For most traders, a comprehensive trading plan is an unmet ideal. In the foreign exchange markets in particular, the lure of easy money often distracts the trader from the reality of hard work. But as anyone who has had success trading can attest, trading is a discipline. It requires a plan informed by extensive knowledge of the markets and the ability to carefully, consistently apply that knowledge. The main ingredient of any trading plan is an understanding of the context that defines the trading environment


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