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

6:22 PG 07/08/2020
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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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Payrolls economic calendar USD intraday traders price action requote Fed Interest Rates inflation level economic news XAUUSD gold XPTUSD platinum XAGUSD silver USDCNY Chinese Yuan correlation Correlation Matrix instruments trading calculator swap trading hours price level support level resistance level risk-to-reward ratio highs and lows oversold/overbought RSI indicator Fibonacci MetaTrader 4 swings self-trading Forex advantages copy trading money management trading signals trading journal profit level emotions emotions control fear day trader trading routine trading setup position closing timeframe low-frequency trading set and forget end-of-day trading Expert Advisors exit trade auto-trading OCO trading mindset confident trading trading goals japanese candles candlesticks patterns stars doji morning star evening star trading psychology morning routine unusual trading tips useful habits leaving Forex useful tips motivation on Forex demo account starting capital initial investment 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market makers financial markets indices commodities stock metals figures diamond divergent triangle symmetrical triangle reversal signal triangle expanding triangle investing stocks Forex mutual fund trading style 4-hour chart 1-hour chart intraday trading 15-minute chart Sydney session Tokyo session EUR/USD USD/CAD GBP/USD entry point exit point H1 M15 devaluation IDR LAK export buy/sell bid/ask Metatrader 4 trading platform cross-currency mentor Forex books lot size breakeven pip point entry price EURUSD fears terminal server proxy OS Windows XP trading signal chasing the market clicking the button checklist Forex news news site news portal FXStreet Investing.com Forex Factory ForexLive DailyFX economic indicators Non-Farm Payrolls monetary policy FOMC retail sales interest rates inflation rates confidence bias trailing stop head and shoulders inverted head and shoulders trading figure trading pattern triple bottom triple top risk trading consistent profits trading styles trading sessions major trend trading strategies oversold overbought reverse signals Fibonacci levels European session cross currency GBP/JPY intraday strategy American session M5 Bollinger Bands Donald Trump Joe Biden coins indexes DXY ICO ECB martingale EMA EA weekly chart false breakout breakout strategy Entry order risk to reward ratio base currency quote currency bonuses tradable bonus no deposit bonus deposit bonus cashback trailing Stop EURJPY RSI Overbought/Oversold hammer morning start candlestick pattern Twitter Trump euro Canadian dollar Japanese yen Mexican peso quotes currency pairs China currency wars trade agreement H4 D1 sell trade buy trade trading system teacher mark-up mark-down consolidation distribution uptrend downtrend long positions short positions double bottom double top pattern signal presidential cycle Elliott wave Kondratiev wave Forex terminology quote standard lot mini-lot micro-lot cross pairs exotic pairs counter-currency candlestick chart bar chart line chart range market channel high low ADX OHLC cross-currencies EUR intuition trading robots Forex mentors exotics minors trading patterns wedges pennants triangles breakout trading range trading productivity multitasking range rectangle sideways channel trend figure Alexander Elder John Murphy Jack Schwager limit order reverse pattern rounded bottom rounded top saucer inverse saucer financial intelligence financial education long-term investing Forex scammers money managers million financial literacy budget goal setting demo live live account VPS remote trading mobile trading ethereum tether litecoin oil economic sentiment consumer price losing streak full-time trading start-up capital discipline drawdown currency CHF CAD Great Britain pound Swiss Frank reserve currency perfectionism women in Forex female traders advantages of Forex social trading trades positions size platform non-farm payrolls fed rates decision central banks Chinese yuan flat US Dollar aggressive EAs cent accounts 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Dow Dow theory primary trend Relative Strength Index signals market noise corrections candle M30 GBPUSD GBPJPY fundamentals USDJPY daily candle Buy Limit Cherry Blossom financial portals bars Doji harami harami cross engulfing belt hold sandwich piercing line dark cloud cover marubozu three black crows upside gap two crows breathing techniques meditation nutrition intermittent fasting self-discipline Three indians initial capital potential profit golden rule enter trade high volatility ascending triangle descending triangle 5 candlesticks signal confirmation loss control reversal patterns Trader’s Cabinet MT4 wedge figure breakout trading discipline pamm mam expert advisors self-education self-study professional education holidays market sentiment Forex myths British pound BoE unemployment rate education disposition effect averaging account types Mini account ECN Copytrade ECN accounts minimum deposit liquidity providers demo accounts real account low-risk trading exotic currencies bid ask shooting star inside bar pinocchio bar stop-hunting false signal Default mode network weekly candle engulfing candle W1 scripts Excel tables equity balance gap trading MetaQuotes iOS Android mobile terminal PPI referral Introducing Broker Japanese candles inverted hammer hanging man abandoned baby spinning top spinning bottom market balance Forex risks trading risks systemic risks technical risks force majeure criminal risks time management partnership program Forex bonuses Forex contests high water mark