Develop your Trading Plan

Тема в разделе "Аналитика Forex", создана пользователем freeforex20, 14 май 2019.

  1. freeforex20

    freeforex20 Новичок

    Develop your trading plan


    Sometimes there is a misconception that you need to be successful. However, it’s a clear plan. Hesitation and doubt, it’s possible to creep in. This can prevent you from taking a step back.


    If you don’t know where you are going. If you don’t need to know your business. It is not a mystery why they lose money. Trading with a plan is comparable to building a business. We are never going to beat the market. In general, it’s not about winning or losing, it’s about being profitable overall.


    Why a trading plan is important

    It is important that you make it. There may be several plans that work together. Always write things down. Why? You can’t use it. A plan helps you maintain discipline as a trader. It should help you to improve your trading strategy. It is also important to use your plan. It would not allow it.


    Key components to develop a trading plan

    Trading plan structure and monetary goals

    Research and education

    Strategy using fundamental and technical tools

    Money and risk management

    Timing

    Trade mechanics, documentation, and testing

    How to build a trading plan

    Make your plan according to your needs. Find confidence in what you know. If you’re not a problem, you’ll have your choice of strategies. Make sure you are on the right track. After you have begun trading, continue testing it regularly. You can see your work. From there you can tweak the elements. It’s not a problem.


    Why am I trading?

    If your immediate answer is “to make money” you should stop right there. If you only want to do so, we can make it so far, because it will never be enough. Managing your losses should not be your primary goal. This will create an environment in which profits can be generated.


    What is your motivation?

    Solid retirement? New career? Spend more time with family and friends?


    Ask yourself, “What are my strengths and weaknesses?”

    Maximize my weaknesses?

    Always one of the trades. Is it a laptop waking up? Intelligent decisions when you're half awake.

    Is it a trademark?

    Look at things in percentages; remember leverage is a double-edged sword. That is why risk and money management are key.


    Deciding what type of trader you are can be tough; especially since the trader you want to be can be very different from the type of trader you should be based on your behaviors and characteristics. Once you have laid out your goals, risk appetite, strengths, and weaknesses it should become apparent which type of trading fits you best. You will notice three columns in the chart; they are labeled short, base and long. Base equals the timeframe charts you spend the majority of your time, if you are not sure, this is the timeframe chart that you keep going back to. Short and long are the timeframe charts that you refer to confirming or denying what is happening in the base timeframe chart. A common mistake traders make is jumping around randomly between chart timeframes.



    free forex signals
    presents special offer


    open trading account with one of the best forex brokers and GET FREE forex Signals via SMS, Email and WhatsApp

    SIGN UP FOR A FREE TRIAL To Access FREE Forex Signals in the Members Area START FREE 30 DAYS TRIAL on https://www.freeforex-signals.com/
     

Поделиться этой страницей