- October 22, 2021
- 4:00 pm
- Technical Strategy
HOW TO PASS OUR NEW EVALUATION PROGRAM
Our new Evaluation program will consist of two phases in which you will demonstrate your ability to manage large amounts of capital as you grow with us.
We believe Forex Traders UK is the best place to be to experience an extremely fulfilling and rewarding Forex trading career. We’ve devised a sophisticated multi-level evaluation system that identifies individuals who will profit when the time comes to pass the evaluation!
Here, we’ll go over some tips that will help us all pass like pros. We put Forex traders to the test to see whether or not their hard work truly pays off.
Practice your Forex trading strategies
Establishing pre- and post-trade routines will assist you in tracking your evaluation progress and concentrating your attention on your Forex trading strategies. Because no one can prevent you from making wrong decisions, a strategy that has consistently demonstrated its effectiveness may become unprofitable in an instant.
When Forex traders go through our trading verifications, they frequently suffer severe emotional leveling, which results in impulsive decision-making. Oftentimes, they do so without considering all available information about the Forex market or other factors impacting their trade execution strategies.
A professional Forex trader will always make every effort, not just during Forex market sessions, but also outside working hours. To avoid being swayed by human emotions such as anger and fear while trading on Forex trading platforms, where self-control should always reign supreme.
Strict stop losses are key
The more experienced a Forex trader is, the higher their chances of successfully closing their trades. However, without experience, there is a risk of failure and unwanted volatility that can only be controlled by the use of stop-loss orders. It is important t o eliminate possible losses due to unexpected events or circumstances that occur outside of trading hours.
It’s fair to presume that all successful prop traders place a premium on risk management when dealing with prop money. Understanding each trade you make in detail, including the percentage risk, will help you remain on track and demonstrate to the firm that you are capable of taking on additional capital and responsibilities.
Understand the news drives
There is no urgent need to monitor important economic news around the clock. However, experienced Forex traders realize that the values of certain assets are heavily influenced by current events, and that anticipating how events will unfold enables them to succeed in the Forex markets by opening positions at optimal times.
Many people believe they need 24/7 coverage when it comes to Forex trading, but the majority of professional prop traders do not operate on this schedule because their livelihood is highly dependent on what occurs outside of the hours mentioned previously, such as market open or close timeframes, which can affect whether you make money.
Along with the news, traders should consider the time zones in which they are trading. The ability to operate throughout and familiarize yourself with more volatile sessions will offer you an edge when managing and holding trades.
