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Posted in Strategy

Setup Ideas for the upcoming work week 06

Hello, you know trading is risky, before trading please read the risk waring.

You are responsible for any decision you do in the markets. Below reflects just my personal opinion is no advice to trade.

GBPUSD short scenarios

for upcoming week there might be interesting opportunities coming up.

First we see the Cable GBPUSD pair started a consolidation last week. The consolidation might still take some time. Maybe on Tuesday, Wednesday the market is prepared for another short entry.

Short Setups form GBP USD

 

 

 

 

 

 

 

 

 

 

 

USDCAD prepared for further Long Setups?

The canadian dollar was pretty weak last week. Maybe there is coming up further opportunities to go a long. But before going long the starting consolidation must need to indicate a reversal in trend direction.

USDCAD Long

 

 

 

 

 

 

 

 

 

 

AUDJPY did not make a decision yet

Another interesting pair seems to be the AUDJPY as it has not made a decision yet. The market goes in wide range with lately soft tendency of being slightly more bullish than bearish. Depending on price action coming up there can come up interesting opportunities to take some range trades.

AUDJPY Sideways

 

 

 

 

 

 

 

 

 

 

 

Last but not least

Posted in Technical Analysis

The magic about GOAL Setting

Hello, this article captures your benefits you receive if you have set your goals right.

The magic about goal setting is to do it right.

First let’s look about what can go wrong on the goal setting process.

The role of motivation

Well, the very first mistake is to not have the right motivation. Think about what drives you in hard times to proceed if you do not have the right motivation? Nothing, because the doubts and hurts in hard times are getting much bigger than your motivation. If that is the case to escape is easier that to proceed.

In other words your motivation must be the rock solid base of your goal setting process. So first step to get your goal right is to answer Why! Why do you want to be a trader? What is underlying reason to be a successful trader.

Only specific goals can be reached

Mistake number two is to not phrase your goal specifically. Let me provide you an example: A nonspecific goal would be: “I want to be rich”. Rich of love, rich of money, rich of experience. What specifically you describe as rich? This is important that you always can look back and exactly can recognize what exactly the goal is about.

Measure your goals

Mistake #3 is to define yourself goals that are not measurable. Let us take the example from above. How exactly you measure richt and when rich is achieved? Hard to say, right? So always define goals that are measurable. If a goal is measurable you get the advantage to always know if you are on track towards the final state.

Goals must be acceptable/attainable

Think about what it takes to get your goal achieved. It does not make much of a sense to define a goal that you by yourself cannot achieve. Also think about your goals if they match with your life’s’ situation. Will you get in trouble with family, friends and or colleagues?
It is always needed to check back the acceptance of your goal.

Every goal must be relevant, it must keep you inspired

Here it comes where your goal ties into your motivation. Your goal must 100% fit into making your motivation come true. The goal will not persist for long if your goal goes totally into the wrong direction. Think about it well to build up your goals based on your motivation.

Don’t create a never ending story

Ensure that at a planned point of time you come to an end with your goal. By that I mean that by planned horizon you finish your project and define a new goal. Like that you ensure you stay motivated by closing a chapter and at the same moment you open a new exciting one.

 

Be SMART

The goal setting criteria above are borrowed from the project management arena and follow the SMART concept. Do you guess it what SMART stands for? Look it at how it does all make sense. Go ahead and use it as well.

SMART Gaoal

 

 

If you need support on the SMART concept, please read our conditions and register for our trader coaching program. It does not cost you any $ to participate.

 

All the best,

Frank

Posted in Goal Setting, Trading Plan

Trader Coaching

Hello, you are interested in receiving trader coaching? I am very happy you found your way to my service.

My services provides the possibility to establish your own trading business from scratch.

Trading Coaching Framework

My mission is to provide you tools & techniques to stabilize your performance at the markets.

Your benefit is to receive guidance developing a business process from a business process professional. Combined with a strategy to trade the financial markets underlying optimmized risk & moneymanagement rules provides a professional toolset to stabilize/optimize your trading edge. All this you receive in 1 on 1 coachings. In total 5 coachings are for free.

Coachings are held 1 on1 through Skype or Google Hangouts. This guarantees best practice for both of us.

Additionally the trader coaching framework contains two areas, knowledge and discipline, that are important and totally under your responsibility. Of course, there is advice given but execution is on you. To simplyfy  and structure that my trader coaching program follows five simple process steps.

5 Step Process

  1. First step is Goal defintion using the SMART method and will be closed with your mission statement.
  2. Second we define actions around your knowledge base to get you to a level that allows to apply your knowledge best.
  3. Third step is to transfer your knowledge into an idea  to trade the financial markets. Key on the third step is the documented process around your idea including preparation, execution as well as risk & moneymanagement rules.
  4. Fourth step ist to put your idea alive following the processes.
  5. Fifth step is to get the hands around after trade management and check back to the SMART Goal. Are you track? Yes, the you just proceed executing, else the improvement loop starts.

By completing the fifth step  with the result of an after trade management process we close the coaching.

Let me wrap up thing:  Having completed our free trader coaching program you received

  1. SMART Goal Mission statement
  2. Trading Process, including preparation, trader execution, risk & moneymanagement applucation.
  3. After trade management process inclusive statistical performance tracking package.

All that I provide to you for free if you agree to our conditions.

Interested? Please check our conditions  that apply to the trader coaching and register.

Any questions left you address using Skype Call/Chat Button placed in the right menu.

All the best and meet you soon!

Frank

Click to get know more about me.

Posted in Trader Coaching