My Foreign Exchange Investing Routine

So I wanted to create this post.

Not for the purpose of trying to tell you that this routine is something you have to do yourself.

But to share my own thought’s on my trading routine.

I firmly believe, that if I create a set of rules and follow them with discipline.

I will continuously create the results my routine was made for.

So… Let’s talk about it.

WHAT MUST BE DONE TO BECOME A BETTER INVESTOR IN THE FOREIGN EXCHANGE MARKET

1. Continue to check the charts 3 times a day for entries
2. Must have 100% confidence to enter on my live account, based on my analysis of the market. (Anything lower than high confidence is a demo trade)
3. Need to create a checklist to follow for each potential trade. [Create a blog post on Medium on my setup for this]

SO WHAT MUST BE PREPARED BEFORE TRADING

1. I Must set an intention, which is (the act of stating what you intend to accomplish through your actions.) What I intend to accomplish through my actions is following my rules that will be talked about later in this post and keeping a calm and focused mind throughout my trading.
2. Let’s just create the checklist now

• Have phone to the left of me. (Where I place my trades on MT4)
• Have Demo set, in case you overleverage and or mistakenly place a trade. (So you don’t lose your LIVE ACCOUNT money.)
• Have a computer in front of me (Used for the scanner, tracking, checking the news.)
• Have my list to the right of me (Action Steps)
• Open up scanner [Pivots](Where I analyze my trade- setups)
• Open compound plan (Where I determine my risk/reward within 5%)
• Open Trade Journal (Where I track my winners/losers)
• Determine the 4 PAIRS I am analyzing (So I know what to focus on)
• Open NEWS on (To check which currency codes are volatile)
• Open Scanner Sauce & load past markups (Following 4 Pairs)
• Check past trade set up (To read and understand if the price was a winner/ loser)
• Mark up on the 4 hour than 1-hour time frame. ( Can see the price’s truest strength)
• Understand the markets current direction (Bullish, Consolidation, Bearish)
• Find supply and demand (To understand the markets overall HH and LL)
• Find any potential trend line (To find a potential 3rd bounce to buy/ sell on)
• Use scanner sauce to determine the momentum of the market(Using the Awesome Oscillator, Stoch, DMI, 4 Mc Ginnely, 20 Mc Ginnley, Super Trend, DC Channel.)
• Once a potential entry is spotted. (Looking for the cross of the 4 in a bullish/ bearish direction)
• Check all indicators (To confirm Bull/Bear strength)
• Use the rectangle drawing tool. (Used to highlight a candle preferably yellow)
• Highlight the Open and Close of the bull/ bear candle (To determine entry zone)
• Wait for 50% retracement to the open of new candle to the past candle. (So a new candle can form before a decision is made).

AS I Prepare To Place A Trade

If the candle closes outside the opposite direction of the predicted entry, manually close the trade. (Because this is against the trading routine for a clean entry.)

• If the candle closes outside the predicted entry, use the long/short position to determine 20–25pip tp, and 10–15 pip SL (To properly risk manage)
• Go to compound plan, calculate capital, calculate risk, calculate lot size. (To properly risk manage)
• Go to phone (Left of me)
• Determine if it's a market execution, bull limit, buy stop, sell limit, sell stop.(This is based on what kind of trade you find in your analysis.)
• Place the trade ( Place the trade).

AFTER TRADE IS EXECUTED

• Check trade during the next scheduled market analysis. (To see if it is a winner or loser).
• Use trade journal (To mark, Entry Price, Stop Loss, and Take Profit, etc.)

3. SO YEAH…

As of now, that is my trading routine or rules I will be following, and I am grateful to know that I took action on finally creating it because this could potentially help someone become a better investor in the foreign exchange markets by reading this post.

And since we are beings that are constantly improving, this blog post will more than likely be updated as I further grow my own understanding of this routine.

Hopefully, you received some value from this post, and have an awsomelator day.

I purposefully spelled awsomelater if you were wondering.