How to Plan Your Trade?

[wildanahda]

In order to be successful in Forex Trading, an investor must educating themself on the many variables that are related to Forex market. They should enroll in a some course or practice through setting up a demo account on one of the many online sites to familiarize themself with the real currency market condition. A demo account does not require any capital, but it does train an investor in how to approach Forex trading.

[SlaiteR_95_]

There is different ways in planning a trade but this is how I do it.

A. This is the entry point determined by the MACD. There is no mystery
about the entry. When the MACD satisfy the rules as outlined in the 4
Hour MACD strategy document then enter.
B. This is our first area of partial profit taking. We have 3 barriers namely
the 8EMA, 21EMA and the price level of 1.2200 to overcome. Where
you set your partial profit taking is up to you. If you can watch it live you
can always decide real time otherwise set it at what you feel
comfortable with. The order of importance is price level first, then
21EMA and the 8EMA.
C. Next is the 89SMA and the price level of 1.2100. Both very important
but the 89SMA normally halts or turn the price around. At this stage I
will close everything except 20% of my position if there is still room to
go.
D. Just above D we have a trendline that should see our full position
closed. It could go to the 200SMA and the blue zone but only when live
in front of the computer will I give it still a chance below the trendline.

Attachment 799

Take partial profit at B, then another at C and then closed out at D. It
completely ignored the 89SMA and went straight down to the trendline.
When the trendline was hit the MACD indicated a trade upwards with the
89SMA as first barrier and so on and so on and so on.

Dear

The most important thing is practice, of course, after Forex Education

Preferably not less than 6 months

With time you will learn how to adapt to the market and choosing the right strategy

Prefer to monitor your performance

[vbr384]

Yes before going into trade everyone should make some planning and trade according to that. I have also a plan. I target a 50 pips profit or loss everyday and i try to make as quick as i can the profit. Than i stop trading.

[sinaga]

yes, indeed the plan will not be 100% works. but before we make a trade, you should have good trading strategy plan, and manage risk management. This plan must be run with discipline, and we must also be prepared to accept the risks.

[mirror]

It is very difficult and very difficult to predict the business, I know first forex trade that I started my trade properly. I want to make a trade at risk because of any risk. I hope I'm at a time by forex profit. It's easy to make when you go to your platform, trading platform and check only imagine where the business is a good business idea.

[Amitpaul]

in example when a fireman climbs into the roof of a burning building he is scared but does it anyway ..and gets the job done it is same with trading it is ok to be scared but you have to pull the tiger ...no trigger ..no trades and no trader.

[goldenmember]

You should plan your trade ahead of time. You know where you are going to buy and under what conditions. When these are struck to place stop loss and take profit and wait. This is how it should be done.

[Morshedul]

Planing is a real part of forex trading. Because without the proper planning, you cannot do well. If you planned to earn 50 pips and do trade according to your plan and strategy, the you will definitely get success on forex market.

[abbey ak]

alright thanks very much for your analysis i know this will be a of a grate help to the members in the forum but i will like to know if this strategy can be use in all kind of pair i just hope you get this message and get back to the forum as soon as you can because i will so much like to invest into this strategy but more information needed

[ranazm]

my trading plan totally different about another trader. i have 2 years experience about Forex trading and i more profit withdraw her. i follow many trader and i find what the different between me and other and i develop me an other trader.