I have developed many forex trading techniques as I have grown as a trader. I don't usually share them, but than I realized that they really are just common sense. Give them a try and you'll see you'll add more value to your trades.
Journal, Journal and Journal Some More
This is probably one of the most underrated tools you have at your disposal. It's free, and all you need is some paper. You're not going to do a simple journal, you're going to explain yourself. List the trade and all the other technical stuff. Below it write why you did this trade, what you saw that alerted you, what you expect to gain, finally end with a conclusion of what happened.
This tool will do two things for you. It will make you accountable. You're going to have to think when answering those questions, so you're going to have to have a great reason. Secondly, you're going to create a documentation of good trades and bad trades. You can look back and see what you did in a certain situation. It becomes an invaluable tool.
Don't Be Greedy. Wait! The Profit Isn't Going Anywhere
A lot of us want to be successful. When we do something, we want to be the best. Often this instinct to drive yourself for better isn't the best move in this case. I find it's better to take slow and grow step by step. You don't have to worry about making the big profits. They're going to be there. As long as we have different countries and different currencies you can make profit.
Software Is An Important Tool
You're going to be working on a computer and software is your best friend for making things easier. I use forex Killer because it is an automated software system that searches through currency graphs, looking for profitable trends for me to exploit. The tool has served me well.
This is all that I use for my forex trading techniques. Of course I have more little things, but these are the big things that have moved me forward and helped me during the hard times.
