A successful trader will understand how important it is to prepare before trading? These include: account balance, trading sessions, strategies, etc. It is very important to be done properly when participating in the forex market. This Kind Martin strategy review will show you whether the quality of your trades is good or not depends on the level of caution you analyze and prepare beforehand.
The market never forgives the unprepared
If you decide to trade without analyzing the information about current trends and economic news of the asset, then you run the risk of misinterpreting the market that leads to inaccurate predictions. It makes you easy to fall into consecutive losses with wrong judgments.
The market will punish investors who are not ready for trading but still stubbornly rush to seek profits at all costs. Those one will have to accept an unevitable outcome – losing money. A lesson learned for newcomers that preparation is the best thing a trader can do to win the market.
Let’s start making profits at Olymp Trade when everything is ready. It will help you to be more confident, more comfortable in opening orders. Besides, your chances of winning will be enhanced by previous careful analysis.
Don’t make trading decisions based on emotions
In order to have an ideal trading order that fully meets the set conditions, it is necessary to prepare a long time in advance. Do not enter an order just because it gives the feeling of winning.
Stick to the criteria of the plan and do not be tempted by the attractiveness of the market. In the long run, profits will come to you as a matter of course. Remember, only good preparation brings profit.
Prepare as long as possible before trading
In the preparation stage, you just need to try to focus on analyzing and sticking to your trading plan.
As a result, you will confidently answer the following questions:
+ What important news will be released today?
+ What trading strategy will I use?
+ Which asset should I pay more attention to?
+ What trends prevail in the market (e.g. Japanese Yen is rising against all other currencies)?
Good preparation will help you to get rid of indecision and misinterpretation of the market. It only takes about 20 to 30 minutes to get the job done.
You would think experienced traders would do this in less time, but in reality things are quite different. Professional traders spend more time preparing for the trading process because they know the key to winning lies at that stage.
Review of Kind Martin trading strategy on Real account in Olymp Trade
- EUR/USD currency pair on May 27.
- Kind Martin trading strategy.
- Balanced capital management.
Order 1: On May 27 at the EUR/USD currency pair, the parabolic indicator was above the candlestick chart and the MACD cut the 0 line from the top. Opened a LOWER order when the signal candlestick has met those 2 conditions.
Order 2: A long lower tail red signal candlestick + the parabolic indicator was on the candlestick chart. At the same time, MACD cut the 0 line from above. Immediately opened a LOWER trade there.
Order 3: At the EUR/USD pair on May 27, a green signal candlestick appeared. At that time, the parabolic indicator was below the candlestick chart and the MACD cut the 0 line from below. Safely opened a HIGHER order.
Order 4: At the beginning of the European session of the EUR/USD currency pair, the Parabolic indicator was below the signal candle + MACD cut the 0 line from below => Opened a HIGHER trade.
Order 5: The price formed a green signal candlestick with a short upper tail. Meanwhile, the parabolic indicator was below the chart and the MACD cut the 0 line from below. Opened a HIGHER order immediately.
It was a successful day trading with Kind Martin strategy. 204$ profit after 5 Fixed Time Trade orders. To get this result, I had to prepare very carefully before entering the market. From strategy, news, account balance, everything is ready.
After that, I just waited for trading signals and nice entry points. I hope after reading this article you will start to prepare carefully before trading and make profits after hard-working time.