Friday, 18 December 2009

Forex Trading Tips: My trading plan (example)

I never trade when I am tired, upset or rushed. I check the markets when I get home from work. I set up signals just before I go to bed. When an alert sounds I check the market and place my trades based on entry signals. I never anticipate what the market will do I trade only with signals. I always trade with a stop loss. I check the market when I get out of bed.I always trade in the direction of the trend on the 4-hour chart. I enter the market on the time frame that is easiest to read. I always use signals to enter and exit a trade. I always make my own decisions to enter/exit a trade. I always start a trade with one lot.I only add to a trade when there are signals. I never trade with more than 10% of my trading account. I record my trades in my trading journal. I accept losses and move on to the next trade.(Losing is part of trading) I take responsibility for my successes and failures in the market.(I do not blame others)