I explained all what you need at Forex world , You can read all Things about Forex through these links
The point that I would talk about it that we must plan for our trade and stick to principles of our plan in order to make high profits , I want from you to consider your plan as a success map at Forex and always this is the message that remembers you the rules of work
?Do You Know The Importance of Trading Plan
The plan keeps you at the right direction , the plan as a daily routine ,the implementation of plan rules make you on the right goal so we advice you to write your plan and read it daily
The trade is a part of work and the successful work need to plan and there is no successful work without a plan and no successful work by luck only , anyway the difference between the successful trader and loser trader is having a plan at work
?What Are The Components of A Successful Trading Plan
The planning for trade maybe simple or complex as you want, it's important to have some of necessaries as below
: Determining the system and your trading style
Trading plan like a heart , the first thing you must practice and try every thing you learned on a demo account for 2 months at most and this includes testing the trading strategy that you made it and as well testing money management system that you intend trading by it , the lot size and the deals instead of testing your analytical ability for the market and how to cope with it
Example : I am a daily trader and I prefer 30 min time frame with my own strategy and all indicators support the trend and I trade at EUR/USD pair and I don't risk more than %2 from my capital and I trade with a lot $10.000 maximum with a profit goal %3 daily ,this we called a perfect trading system
: Trading Routine
The routine is very important part because it decides for you important things during your analysis , watching market and evaluating the daily performance , It helps you focus at work as a result of repeat the work by the same way and avoiding the mistakes
: Your Thinking and Your Emotions
The thinking and emotions are very important , Don't imagine that the market will move as you want but you should move depending on the movement of market
Example : Look to the chart and don't be biased for your emotions and your feelings ,you are not market maker but you are market follower as well control on yourself in a loss case we are all vulnerable to loss
: Determine Your Strength Points and Your Weak Points
Of course, we have Strength Points and Weak Points we never talk about them , best way to face the weak points is face them objectively , If you lose a deal don't crash your PC or revenge from the market by entering in another deal , the solution is abide by your strategy rules and get out without opening any new deals
: Set Goals
Earning a lot of money is not a goal , Don't make your goals are earn money because is a personal goal has no relation with the true success
?So what is the goal
The goal must be earning more pips , it's excellent goal ...yes you have to put your eyes on the pip and where it will move
: Write All Trading Memories
Write all trading memories about your trade at forex market and what happen to your trade day this is best way to make you successful trader ,the time repeats itself
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