Forex course: a quest for a consistent approach

A Forex course lesson? Yeah again why not. In this Forex course tutorial I would like to point out something I really think is essential for any Forex course.

So where we are? OK. I am talking about a consistent approach to trade the markets. That means basically a procedure what to do in any moment. And that is important, whatever your trading style may be.

Consider for a moment you use third party signals. However what would be your approach, you need to answer some questions.

1. Selection of the signal provider based on some criteria objective and subjective: You need a consistent approach.

2. Eventually making a basket of signal providers to mitigate risks: You need a consistent approach otherwise instead of mitigating the risk you end up with increased risks.

3. How much risk you are ready to tolerate?  What is the draw down you are ready to accept?

4. If that happens what are you going to do? Stop trading, changing the position size or keep the things unchanged unless your account is blown or your loss recovered at some kind of break - even point.

5. How often are you going to monitor your portfolio of signal providers?

Take a look at those questions, you need to have an answer for them. And in this example you are not even trading at all, you are not even dealing directly with the market but still you need a consistent approach.

Unfortunately I did not find any simple and available Forex trading course that would deal with those questions. If you have any ideas you may comment but ... So still we are looking for the Forex course that would give a methodology to those kind of questions.