Create trade plan system, one by one.

[d5358]

There is an old saying in business: "Fail to plan and you plan to fail." It may sound glib, but those who are serious about being successful, including traders, should follow these eight words as if they were written in stone. Ask any trader who makes money on a consistent basis and they will tell you, "You have two choices: you can either methodically follow a written plan, or fail."

If you have a written trading or investment plan, congratulations! You are in the minority. While it is still no absolute guarantee of success, you have eliminated one major roadblock. If your plan uses flawed techniques or lacks preparation, your success won't come immediately, but at least you are in a position to chart and modify your course. By documenting the process, you learn what works and how to avoid repeating costly mistakes.

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Whether or not you have a plan now, here are some ideas to help with the process.

Disaster Avoidance 101
Trading is a business, so you have to treat it as such if you want to succeed. Reading some books, buying a charting program, opening a brokerage account and starting to trade are not a business plan - it is a recipe for disaster. "If you don't follow a written trading plan, you court disaster every time you enter the market," says John Novak, an experienced trader and developer of the T-3 Fibs Protrader Program.

Once a trader knows where the market has the potential to pause or reverse, they must then determine which one it will be and act accordingly. A plan should be written in stone while you are trading, but subject to re-evaluation once the market has closed. It changes with market conditions and adjusts as the trader's skill level improves. Each trader should write their own plan, taking into account personal trading styles and goals. Using someone else's plan does not reflect your trading characteristics

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Building the Perfect Master Plan
What are the components of a good trading plan? Here are 10 essentials that every plan should include:

Skill Assessment
Are you ready to trade? Have you tested your system by paper trading it and do you have confidence that it works? Can you follow your signals without hesitation? Trading in the markets is a battle of give and take. The real pros are prepared and they take their profits from the rest of the crowd who, lacking a plan, give their money away through costly mistakes.

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Mental Preparation
How do you feel? Did you get a good night's sleep? Do you feel up to the challenge ahead? If you are not emotionally and psychologically ready to do battle in the markets, it is better to take the day off - otherwise, you risk losing your shirt. This is guaranteed to happen if you are angry, hungover, preoccupied or otherwise distracted from the task at hand. Many traders have a market mantra they repeat before the day begins to get them ready. Create one that puts you in the trading zone.

[awannadeem]

Forex trading main aik munazim tariqy par chalna boht zarori hae, Jab tak ham khas strategy par amal nai karain karain gy trading main kamyabi kay chance tab tak nai hon gy. Jaisa k aap ny kaha hamain trading kay duran rules follow karain parain gy, wo cha'ay kisi expert kay hon ya phir trader kay pany kuch rules ko follow karna zarori hae.

[powallhda]

I find that it is very important to be able to clearly identify the trend in forex trading activity and trend is what we work on in forex and if there is no movement of trend then it is impossibles as a to make money from forex so we should think that forex is our friend and as a respected its then If you trading by countering trend you should know when the market make some correction trading liked this will make you ha in fact ket since it's hard for me to identify when the trend will comes !

[Hishamsaeed]

Hello .......................
In my opinion might be able to catapult to all who trade fores this well and there are some traders get much money from forex and even get success from forex. Thanks............

[hudaj]

I find that its a very important to be able to clearly identify the trend in the forex trading activity and trend is what we work on in forex and if there is no movement of trend then it is impossibles to makes money from forex so we should think that forex is our friend and respected as it then If you trading by countering trend you should know when the market make some correction trading like this will make you ha in fact ket since it's hard for me to identify when the trend will comes !

[orni308]

yeah you should have a proper trading plan, and that is good as then you can have all the positive aspects that are necessary for making positive trade.

[smb0364]

ji han hum ese hi kr skte han k hum aik plan bana leia hay k aap ne aik hi aik dn se pal create krne hote han aur wo jo hote han us ko tu hum apne faide k laie hi use krte han tu aik hi esa hi hota hay k nahi tu nahi hi na sahi tu aik dn hum apne laie hi kcuch kr skte han nahi tuna hai

[PRAYOGO]

if you are not sure of the direction of the price accordingly to find the trend i use indicator moving average but so always trade the trend not trade the price while when a trend is formed then the price will move in one direction

[mukeshfx]

Trading plan jaruri hota hai jis se humen trading karne me help milati hai, agar hum pahle se hi trading ke liye prepare rahte hai to trading karte time hum achche decision le sakte hai, aur sab kuchh humara plan ke mutabik ho sakta hai agar humara trading plan achcha ho.

[CooKies]

Hello my friend,, Yes, of course, the merchant must have a plan to trade in the Forex market through this plan and to experience the demo first so recognize how successful the plan profits.. So I totally agree with you, my brother