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Unusual Things That Will Help You Become a Better Trader. Part I.

6:22 AM Aug 7, 2020
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Trading Psychology

Any person that wants to become a professional trader with a stable income needs only a minute to google phrases like "how to improve trading psychology" or "how to improve trading skills". But such publications usually have much advice that has been known for a long time. So what makes you a better Forex trader?

Professional traders’ success lies not only in a solid trading plan and a well-developed risk management system. Good Forex performance starts with personal growth. You should develop discipline and a set of good habits that can make you a better trader and a more successful person in general.

Start With Healthy Sleep

Let's begin with a quite obvious but important thing. To trade successfully, your brain must work to its maximum capacity. If you don't get enough sleep, your performance will inevitably drop, which will affect your trading results.

Healthy sleep depends on many factors. Not only on the number of hours. The following tricks will help you:

  • Don't look at screens an hour before bed. This applies to any device: computers, televisions, tablets, telephones, etc. Due to the special blue glow and light in general, the level of the sleep hormone decreases which makes the quality of rest decrease.
  • Remove any excess items from the bedroom that might distract you from sleep. The cleaner and freer the space around you, the better you sleep.
  • Get yourself a comfy pillow and quality bedding that won't irritate your skin.
  • Take care of a comfortable temperature. If the room is cold, use a warmer blanket. If it's hot, turn on the air conditioner or fan.
  • Avoid eating a few hours before bed to keep your body focused on rest and not on digesting food.

I hope there is no point in reminding you that you need to sleep for at least 8 hours. And we are talking about actual sleep, not time spent in bed. Pay attention to how much it takes you to fall asleep and go to bed a little earlier. You will be surprised how much your standard of living and your trading results will improve when you start getting enough rest.

Build a Healthy Morning Routine

Have you noticed that almost every successful person believes that you need to get up early in order to achieve something? The secret is that the maximum brain activity occurs in the first half of the day. But before you get to work, you will probably need to complete a number of morning procedures that will set the tone for the whole day.

I advise you to get up at least at 6 am. Most rich and successful people do the same. Many of them start their day at 5 am and here's why:

  1. In order to tune in the right mood, you need to build a morning routine. It will take time that you gain from an early rise. I will tell you how to build your morning routine later in this series of articles.
  2. By getting up early, you train the self-discipline that will come in handy in your trading.

Remember that in order to get up this early, you will need to go to bed no later than 9 pm. Revise your schedule and rebuild to make sure your sleep and morning routine fit perfectly into it.

I understand that these are strange tips for a trading blog. But the title of the article speaks for itself. In the following articles, we will talk about a few more unusual things that will improve your trading and your daily life performance.

In the meantime, you can try the tips from this article and see how they will affect you.

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losing streak perfectionism consistent profits starting capital initial investment market psychology japanese candlesticks PAMM trust management money manager holidays market sentiment CHF CAD Great Britain pound Swiss Frank reserve currency averaging morning routine initial capital potential profit reverse pattern rounded bottom rounded top saucer inverse saucer IB Program IB Commission Sharing reversal patterns deposits payment methods payment systems local transactions trader’s block market balance
trading mindset beginners novice traders trading strategy losses forex mistakes trading habits trading plan forex trading women in Forex female traders risk management broker profit trading instruments pairs price advantages of forex leverage FXCL investments copy trading advantages of Forex social trading professional traders trading psychology demo trading buy/sell bid/ask spread Metatrader 4 market analysis technical analysis fundamental analysis trade trading platform Forex trading novice trading dealing with losses charts timeframe indicators MetaTrader 4 trading routine support level resistance level trend low-hanging fruit stop loss loss trading history long-term goals open trade close trade daily charts swing trading intraday trading scalping trading setup Forex traders bullish bearish resistance support MA 200 trend trading professional trading EMA EA daily chart weekly chart Forex news highs lows account type cent trading Mini Micro Cent Partnership commission fees trading terms Stop Loss news trading economical calendar major news release currency pair currency rate national currency trading journal trades profit/loss emotions news release positions size Expert Advisors platform trading robot cryptocurrency volatility day trading position size lot account types cent accounts Mini account ECN Copytrade ECN accounts swap-free minimum deposit order execution liquidity providers demo accounts real account low-risk trading EUR/USD economic calendar majors cross-currencies exotic currencies base currency quote currency quotes bid ask Brexit United Kingdom European Union GBP Euro GDP WTO price levels moving average 4-hour chart 1-hour chart bulls bears false breakout cross-currency USD price action pin bar trading inside bar trading hands off breakeven stop loss 50% stop loss pin bar high-frequency trading position trading swings breakout strategy trading style Entry order Take Profit hammer shooting star inside bar pinocchio bar head and shoulders harami risk to reward ratio trading calculator trader’s age emotion control stop-hunting false signal trading session New York session Asian session non-farm payrolls fed rates decision central banks mentor teacher Forex education Forex books candlesticks bonuses tradable bonus no deposit bonus deposit bonus cashback pending orders counter-trend trading risk-to-reward ratio 1-2% rule uptrend downtrend news releases slippage emotional trading stop orders limits orders trailing Stop correlation Correlation Matrix EURUSD EURJPY RSI Overbought/Oversold indicator doji morning start candlestick pattern liquidity London session gap requote US dollar greed excessive trading Expert Advisor trading instrument Twitter Trump euro Canadian dollar Japanese yen Mexican peso currency pairs Fed China economic news currency wars USA interest rates trade agreement H1 H4 D1 sell trade buy trade price level trading system COVID-19 coronavirus lockdown checklist Default mode network Nonfarm Payrolls intraday traders lot size Stop Out margin breakeven pip point entry price chart candles weekly candle daily candle engulfing candle Doji W1 fears money management trading signals Charles Dow Dow theory primary trend Relative Strength Index signals market noise trading volume oversold/overbought corrections candle M30 GBPUSD GBPJPY pending order fundamentals Interbank order Stop order Limit order Standard account Interbank account liquidity provider M5 chart gold XAUUSD Chinese yuan flat US Dollar Fed Interest Rates inflation level XPTUSD platinum XAGUSD silver USDCNY Chinese Yuan instruments swap trading hours Buy Stop Sell Stop Average True Range ATR range sideways range price level trading scripts Excel tables entry point equity balance applications highs and lows RSI Fibonacci terminal server proxy OS Windows XP self-trading Forex advantages gap trading Fibonacci levels USDJPY Buy Limit Cherry Blossom market cycle mark-up mark-down consolidation distribution long positions short positions double bottom triple bottom double top triple top pattern signal presidential cycle Elliott wave Kondratiev wave Forex terminology quote standard lot mini-lot micro-lot cross pairs exotic pairs counter-currency terminology Margin Call long position short position buy sell candlestick chart bar chart line chart range market channel high low ADX OHLC patterns profit level martingale aggressive EAs VPS demo account EA tester trading signal chasing the market clicking the button oil trading lot EUR cent account Forex mentor novice trader emotions control fear psychological level round numbers Key Levels indicator MetaQuotes iOS Android mobile trading mobile terminal VPS server financial portals day trader position closing short timeframe fast trading news site news portal FXStreet Investing.com Forex Factory ForexLive DailyFX CPI PPI economic indicators Non-Farm Payrolls monetary policy FOMC retail sales inflation rates program installation intuition apps ECN brokers market makers financial markets indices commodities stock metals trading robots Forex mentors confidence bias low-frequency trading set and forget end-of-day trading exit trade auto-trading OCO trailing stop auto-management competitive advantage partnership IB referral Introducing Broker Sub-IB EURGBP EURCHF Donald Trump Twitter exotics minors trading patterns wedges pennants triangles breakout trading range trading confident trading trading goals Japanese candles inverted hammer hanging man abandoned baby spinning top spinning bottom inverted head and shoulders trading figure trading pattern beginner mistakes unrealized profit/loss Forex scammers money managers overtrading Trader’s Cabinet MT4 trading styles exit point Forex myths currency bitcoin ethereum tether litecoin tick chart education European session cross currency GBP/USD GBP/JPY M15 intraday strategy American session USD/CAD M5 Bollinger Bands MAM investing high water mark currency market stock market cryptocurrency market japanese candles stars morning star evening star figures diamond divergent triangle symmetrical triangle reversal signal financial intelligence financial education long-term investing triangle ascending triangle descending triangle risk control stocks Forex mutual fund EUR/AUD AUD Australian Dollar Australia ECB RBA demo live live account spike bearish spike bullish spike breathing techniques meditation unusual trading tips useful habits nutrition intermittent fasting Three indians pamm mam expert advisors start-up capital business Forex business oversold overbought reverse signals 15-minute chart full-time trading discipline drawdown inflation devaluation IDR LAK export Russia regulations regulators Central Bank quantitative easing quantitative tightening Donald Trump Joe Biden coins indexes DXY ICO Mrs. Watanabe beginner trader carry trading young traders women traders productivity self-discipline rectangle sideways channel trend figure Alexander Elder John Murphy Jack Schwager limit order leaving Forex useful tips motivation on Forex expanding triangle 5 candlesticks signal confirmation loss control currencies Germany market execution instant execution taxes laws remote trading withdrawals time management British pound BoE unemployment rate interest rate breakout Sydney session Tokyo session disposition effect continuation pattern golden rule enter trade high volatility risk trading trading discipline trading strategies Forex risks trading risks systemic risks technical risks force majeure criminal risks self-education self-study professional education Forex forecasts partnership program Forex bonuses Forex contests self-employed trader bars harami cross engulfing belt hold sandwich piercing line dark cloud cover marubozu three black crows upside gap two crows multitasking wedge figure trading sessions major trend million financial literacy budget goal setting Forex resources Myfxbook useful tools account analysis account monitoring trading analysis economic sentiment consumer price losing streak perfectionism consistent profits starting capital initial investment market psychology japanese candlesticks PAMM trust management money manager holidays market sentiment CHF CAD Great Britain pound Swiss Frank reserve currency averaging morning routine initial capital potential profit reverse pattern rounded bottom rounded top saucer inverse saucer IB Program IB Commission Sharing reversal patterns deposits payment methods payment systems local transactions trader’s block market balance