Trading Plan on Forex

Trading Plan on Forex , Why Have A Plan (Trading Plan)?. You may have learned so much and have learned so far with your education, and still you still haven't graduated high school. No, you are not stupid, but you do not have a trading plan.


The bottom line is You can fill your brain with so much information, but without a good trade planning and the discipline to follow it, You will never succeed.


Suppose Your trading plan as a map to success. The success of the plan will be a constant reminder of how you will make money in this market. Of course, such a plan is not required, and if you can make your life with trading without a plan, we're going to bend down and worship You as a god Zeus Forex market.


So you can trade without a plan if it wants you, but before you make that decision, let us give you a little reason why you must have a Trading plan or Plan.

Why Have Plans Of Trade (Trading Plan)

Reason 1: the trade Plan maintain You in the right direction

Consistency is very important for dimilikidi in ruinitas your trade because the consistency allows you to truly measure how successful you are as a pedaganag. If you have a trading system sounds but you always break the rules, how can you really know how good your system? Your trading plan will keep You to still point to the target. Read it every day and follow the rules.

Reason 2: trading is a business and a successful business ALWAYS has a plan

I have never seen a successful business without starting with a plan. Do You honestly think that Wal-Mart just created with action and then magically be successful? Or how about McDonalds? I'm sure almost all oarang could make a more delicious hamburgers than McDonalds, but the difference between them and the individuals is they have a successful business plan which guides them to success.

In the same way, you can link the story of McDonalds with Your trading career. Whether it's by luck or experience, anyone can make money in forex. However, the difference between a trader who loses with a successful pedgang is his PLAN. If you have a good trading plan and you enough discipline to follow it, you will succeed!


Now you know why you are required to have a trading plan. Let's see what form a trade rencanan ...

What should Trade in the plan?

The trade plan can be simple or complex as you want, but the most important thing is that you actually HAVE a plan and you follow the plan. Thus, the following are some important things to be owned by each plan.

1. Trade System

This is the core of Your trading plan. This system should be one which should be tested again thoroughly, and have been used to trade for at least two months on a demo account.

Including all the important information about your system, such as: the time frame that you are running, the criteria for entry and exit, how much your risk on each trade, which currency pair You are trading and how much lot You trade.


Example: I was an intra-day trader and I traded with 10-minute charts. I entered at the moment there is a moving average cross and all the indicators I favor him. I just traded currency pair EUR/USD and I are at risk of not more than 2% of my account on each trade. For now, I trade mini lots 5 and will increase the size of my lot in accordance with rule 2% money management I.

2. Your trademark Routines

This is a very important part of your plans because these routines will decide three important things: when you will analyze the market and plan your trades, when you'll really see a market for trade, and when You will evaluate Your actions on the day of your trading.

3. Your mindset

Just ask every trader out there and they will tell you that the one thing that most heavy to do is bring Your emotion when trading of such trade. On the part of your trading plan this will explain what a frame of your thinking when you trade.

Example:

I'll see what's on the Charts and not what I want to see.
No matter how I usually towards a direction, I would make sure to trade just what my eyes see and not based on what the word feeling.
I'm not going to "revenge" to the market if I lose in trade.
I'm not going to hit myself if I lose in trade. In addition, I will take the defeat as a learning experience and continue to trade.

4. Your weaknesses

Yes, we all have weaknesses. We just don't like to talk about it. But to just ask yourself, "How would you get to be better, if you're not doing what you should be doing anyway?" This section will become the destination in order to stay on track with regard to the things that you need to do to become a better trader.

Example:

I tend to trade excessively. Whenever I lost my position, I am outraged and immediately attempted to "revenge" on the market.
I tend to kaluar earlier in the trade
I don't abide by my system at any time
I don't keep my money any time management

5. Your goals

"To make a lot of money" is not a good goal. Sit down and really think about what you want to achieve as a merchant. You want to trade as a livelihood? How much profit can you expect realistically from trading based on your knowledge and experience? Your goal is not necessarily a matter of making money. You might want to be more disciplined or gain the confidence. Those goals could be with personal reasons. What you want on this subject? Use those goals as your motivation at times difficult. These goals will become your vision and you should always focus Your eyes to view the prize!

6. Your trading Journal

This can be a valuable tool to help you become a better trader. Pastika you do all Your poerdagangan and why you do it. Then took to the streets then you can look back and evaluate your trade see the progress you have achieved. I have seen back to back on my trade journal and have seen how I've grown as a pedangang. My first entry is very basic and I have forward, trade me mean a lot to me now. I have gained a lot of confidence through my career and with a look back to back in my trade, I really felt able to evaluate myself and see if I am getting closer to my goal. This tool will help you tremendously in the long run, so take a moment each day and make a note of your trade. You will be happy because it managed to do so.

Summary

Plan Your trade will be a "Holy Book" your trade.

Read daily and adhere to.

You can get the whole trading vessels in the world, but if you don't have a plan about how you use it, you will never succeed. Remember, you are initiating a business, and if you want your business to succeed, you must have a Trading plan or Plan is right!