Imperceptibly, we have entered the last days of 2019. What do you usually do at the end of the year? Do you usually review the activities and achievements of the year? What about your trading activities? The last days of 2019 might be the right time for you to do year-end trading review in the past year.
Try asking yourself, how much profit do you get in your trading? Are you experiencing continuous failure? Or, how many times have you been hit by a Margin Call?
The Importance of Year-End Trading Review
In the basic management concept, you may know the management process called POAC, which consists of planning, organizing, actuating, and controlling. In forex trading, we can also adapt the basic management concept in terms of planning, implementation, and control.
At the end of this year, you might have determined and implemented the trading plan maximally. Now, it’s time to take control. You can compare how the trading plans you made and how you implemented them. When there is no problem at all, it can be said that everything is in control. However, if there is something wrong with your trading activities, then you need to do an evaluation for better trading.
According to Trade Your Edge, a trading review can make you go to the right direction. By taking reviewing steps to fix the deficiencies in the previous year, then you can make target improvements in the next year. However, if you don’t make any improvements, you may repeat the old mistakes that make you lose.
Improvements For Next Year
If you have evaluated your trading activities for the past year, you can conclude what things you should do to maximize profits in the next year.
Keep learning
For novice traders, an evaluation might be based on how much additional knowledge you have gained this year. Ask yourself, are you still eager to continue learning about trading activities? What about the positive and negative effects of trading activities that you have done? Do you enjoy trading activities?
You have to decide whether you will continue to learn forex trading or you must stop it. Do not force yourself to keep trading even though you do not enjoy this activity.
In conclusion, don’t forget to always review all your trading activities to get a bigger profit, traders!
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