December is the perfect time to slow down on your trading
While prepping for the new year, I believe it's best to chill and refine your trading into simple methods to save you time and money.
If you feel this way, the best way to prep for 2023 is by ✨repetitively✨ trading your best strategy from 2022!
Here are 3 tips for planning your Q1 2023 strategy repetitively:
Tip 1. Analyze your past trade to find your strengths
You want to start with how you traded well. You can find this out by looking at your past winners in your trade journal and/or backtesting log. From there, filter out the steps that led to each trade winning.
Look at the timeframes, structure, entry, stop loss, length of trade held, and risk management rules. They are great indicators I find to be the most valuable.
Tip 2. Decide what rules you'd like to use repeatedly:
When choosing what rules to use, I recommend you not use more than three and think the trade will be set up the same way each time.
Instead, try changing the currency pair you trade that meets your rules. For example, trade AUDUSD if your 3 rules are met on your preferred analysis timeframe. Giving little effort to stay consistent trading currency pairs that meet your rules vs. trying to find a setup on a currency pair that's not ready to be trading can make a huge difference in how your trade performs while allowing you to keep most of your profits.
Tips 3. Update and refresh your every week to stay ahead and in the know:
Even though you're saving time repeating the same strategy, you still want to update your content to know what it's doing.
You can do so by updating your charts every Sunday & midweek. You can also set alerts or pending orders to keep you alert without you stalking your chats for change.
As change happens, this gives you time to refresh and adapt to minor and major changes without stressing yourself out.
After implementing these tips, you have new trade ideas to kick off your new year without stress or overwhelm.
As I've been developing a new curriculum and updating my 1 on 1 forex coaching services for my signature TMP Coaching Program, I developed a 3- part method to make repeating one strategy even more intentional.
If you love saving time trading strategies like this, I talk in-depth about my 3 steps "yes" trading strategy inside the TMP Strategy Curriculum.
Price Action/Pending Orders
In this program, I cover:
How price action creates the direction you should trade in and how to know before the move happens
How to decide where your best entries and exits are for profits and losses
How to use pending orders to automate your trades, so you don't miss your best trade setups
TMP Coaching Program is launching in January with a COMPLIMENTARY end-of-2022 watchlist party. Join the waitlist to be the first to join me in the zoom room to prepare you for 2023.
You can see how it works by watching the video below.
If you have any questions on these 3 tips for repeating your best trading strategy, reply and let me know. I'm here(in my pajamas, at my desk with coffee, of course), and I'm always happy to help.
PS. My Signature Program is coming back, revamped with an amazing framework to automate your best trades to come! Make sure you're on the waitlist, so you don't miss out on joining in January!
-Your Forex Coach,