Forex Automation of processes
Automating his process was very easy. By doing the same activity day after day and week after week Barry effectively automated his trading. No thinking was required – he merely had to follow the process he had created without thinking too much about it. The true test is that your subconscious should automatically know what to do – a bit like driving a car.
By following his automated process he cemented secrets 1 to 3 as a success routine and created the 4th secret: – The automation of a success formula. He created a success habit that is difficult to break for over 10 years and also easy to follow and adhere to.
His daily automated process was.
- Review the Forex market and plan the trading for the specific day and trading period ahead.
- Review the relative strength of currencies using most trading time-frames
- Review trading currencies in the various time-frames to determine the trading phases they find themselves in.
- Trade the European session until the open of the US session
- Trade the US session until the close of the European session
- Record all reasons for entries and reasons for exits for all transactions
- Do a postmortem of all transactions at the end of each session.
At the end of the week the automated process was
- Review all charts for missed transactions and determine the reasons why they were missed.
- Plan for next week’s trading using technical analysis and fundamental information.
But he did not do this on his own. He did not do these activities by himself. That would have caused all kinds of problems to stick to the routine. Boredom and bad thinking would soon creep in and his success activities would become undisciplined. He had lots of outside help to keep him on track. But, that is the subject of the next modules.
Most of the above process will be reviewed and clarified in the modules to follow.
Have you identified the real Forex trading secret?
By now you should be realizing that the actual trading method he used did not matter. He would have succeeded if he used Fibonacci methods, Pivot point methods, Support and resistance methods, indicator based methods or any method for that matter, to start with.
It is not the trading method that made him a trading success. It is the his strong mental strength, burning desire, clear thinking, work ethic, discipline, focus, objective outlook and many more personal qualities that produced his exceptional success. The trading method he started with is actually irrelevant. He would have succeeded using any method.
It is very likely that you already know the Forex technique that will make you Million a year Forex trader but very few traders have the desire strong enough to do what it takes.