Tag Archives: mt4 trading platform

Importance of Setting a Routine in Forex Trading in Kenya

Work requirements mentioned below can help traders to focus on more trading activity and reduce interference. This is important because it helps them improve their understanding of the market and make the results better than that. However, for the novice, trader develop routines as not just a ritual but quite important for the early success. You can check out forex trading in Kenya via online resources.

Stock trader exchange

Routines of forex traders should consist of the following aspects:

  1. Start early in the day is important with a sound night's sleep. This is important because of the long hours of trading to test the durability and well-rested traders may help beat fatigue.
  2. Charts the previous week trend of the day – both every day and hourly- should be analysed before starting the online trading activity. The pattern must seek, and traders should be prepared to look for the same in the coming sessions.
  3. Before starting the day, traders should identify key support and resistance zones for the past week.
  4. Getting a look at previous favourite chart and graph of success can help merchants increase their trade with passion and confidence.
  5. Market news reading activity should be performed before starting the market. Traders should not let the market news to distract them during the day.
  6. After a trade setup that meet the criteria have been identified, traders should regulate the trade and walk away until the next morning.
  7. Keeping a record of activities each day on trading platform is very important.