Trading Plan For Consistent Trading

[mgroupfx]

Trading Plan

Successful Trading Must Include 3 Keys
1. Method ( Trading Strategy )
2. Money Management ( Control Exposure )
3. Mindest ( Control Your Emotions )

Writing Your Trading Plan

1. Outline your motivation (your Why?)
2. Define your goal (specifications)
set soft weekly monthly yearly targets
3. What type of trader are you ?
4. Identify Instruments To Trade
5. Determine Your Trading Capital
6. Keep Trading Records (How? & Why?)
Journaling is a critical component trading is a business and you are the accountant

 

[Fin_Trader]

Yes, without a trading plan it is impossible to make money on forex. Our actions must be systematic and reasonable, we must know when to make trades and when to wait. Without this, our trading will be just a game of luck.

 

[pippin]

A trading plan for consistent trading should include clear guidelines for entry and exit strategies, risk management, and market analysis. Start by defining your trading goals and preferred strategies, such as trend-following or range trading. For example I use 1% risk per trade using 1:100 leverage from HFM. Regularly review and adjust your plan based on performance, while maintaining discipline and sticking to your defined rules to avoid emotional decision-making.