The Forex Trading Strategy All good plans start with a proven trading strategy.
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You could lose all of your money fast due too: Unlike scheduled economic data, unscheduled market tape bombs cannot be planned for, nor can they be predicted with consistent accuracy.
By joining us as a member you acknowledge that we are not providing financial advice and what you do with the information provided by us is your decision. We have no knowledge on the level of money you are trading with or the level of risk you are taking with each trade.
You must make your own financial decisions, we take no responsibility for money made or lost as a result of our website, signals or any additional communication. The strategies, methods and information, signals provided us are our opinions and should not be viewed as investment advice. They represent our personal views and trading experience and are subject to change without notice.
It is important to know that past results and performance are no guarantee of future performance. There is no guarantee that you will earn any money using the techniques and ideas or software provided with this website.
All results and performance figures stated by us are estimates, hypothetical in nature and do not represent evidence of actual results achieved. Risk per trade is based on the potential percentage reduction of the example trading account if the trade is closed at original stop loss. No information contained within any form of communication from us constitutes any recommendation to buy, sell, order, or trade any product in the financial or spread betting markets.
The information contained in this website is not necessarily real-time nor accurate, and analyses are our opinions only. Your use of this website and any dispute arising out of such use of the website is subject to the laws of England, Northern Ireland, Scotland and Wales.
We reserve the right to amend or replace the website at any time and undertakes no obligation inform the user or to provide additional information. Every trader however must examine themselves personally, only then can you custom fit a trading strategy properly. Adjusting Your Plan Although I agree that one must have a plan to achieve their goals, I also believe that expecting everything to go exactly according to the plan is unrealistic at best.
Before becoming a full time forex trader I owned a serviced based company. Many times I had a great plan to achieve the desired goal or task, only for that plan to be thwarted by some unpredictable human variable. No doubt there were a few times where things did follow the plan to the letter, but these times were few and far between.
The same could be said of anyone who has plans to trade forex full-time or part-time. It seems like every other day a major tape bomb creates an unexpected market spike. Unlike scheduled economic data, unscheduled market tape bombs cannot be planned for, nor can they be predicted with consistent accuracy. This is but one example of how the ever volatile currency market can thwart your well drawn out trade plan. As our members know, several months back I had to adjust my trade plan due to market conditions.
Doing so was not easy as it went against my personality. The part of my trade plan that was in need of adjustment was the way in which I took profits. I am someone who really enjoys seeing the market run 70, 80, 90 pips or more when I am in the trade.
In general if we have correctly identified what smart money is doing this is normally not much of a stretch during normal market conditions.
With the much tighter ranges however I knew a tighter take profit would result in greater overall profit, and therefore I made the necessary changes. The market was telling me something and I had to make myself listen although it was not necessarily easy to do. The point here is you have to find balance with your own personality and the changes that will be necessary along every traders career.
One can never know all the changes that will occur over a trading career, and knowing ahead of time is in no way necessary to having a profitable trading career. The main point to take away is that you will have to adjust over time. Doing so does not mean that your original plan was wrong. Often the path to success is never perfectly straight nor without obstacles, and as such we must learn to adapt and change our plan as circumstances dictate.
Having A Trade Journal Do you have a trade journal? A trade journal is not just a log of your trades, rather it should include a detailed summary of not just the entry but the trade management as well as the exit. Did you stick to the plan? What were your emotions like during the life of the trade? At the end of each week as you go over your trades you will quickly identify negative patterns that need correction. This will help you create a trade plan that better suits you personally.
Use your emotions to your advantage rather than letting them be a hindrance. In Conclusion I hope this training article has shed some light on the importance of a clear, well defined trade plan. There is without a doubt a direct link between a trade plan and your chance of success. Do you have a clear well defined trade plan that you have actually written out rules for? Does that include rules for not only a trades entry, but also complete trade management?
If you have not done so and you are still struggling to be consistently profitable I would strongly urge you to do so BEFORE placing your next trade. Though this article we also discussed how a journal of past trades can help you develop and progress as a trader.
If you do not have a journal, this as well should be a priority! Well, if you intend to create a trade plan you must have a trading strategy as we discussed at the beginning of the article. Once you understand exactly how the banks tend to move the market you will have a clear well defined trading strategy from which to develop your trade plan. As you begin to put that trade plan into practice you will then be able to create a journal, from which you can identify and correct mistakes.
The term 'Intelligent Forex Trading' or 'us' or 'we' or 'our' refers to the owner of the website. All kinds of trading (including but not limited to Forex, binary options and spread trading) carries a high risk to your capital and it is possible to incur losses that exceed your initial investment. Trading is not suitable for all investors.
Without a doubt there is a clear link between not having a plan, and not achieving your end goal. How though does a trader begin laying out a plan that will lead them to consistent successful trading? The Forex Trading Strategy. All good plans start with a proven trading strategy. Intelligent-C is a forex broker. Intelligent-C offers the MT4 and MT Mobile forex online trading top platforms. lokersumbagut.ga offers over 20 forex pairs, stocks, shares, indices, gold, commodities, cfds, bitcoin and other cryptocurrencies for your personal investment and trading options.
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