Strategic planning in Forex Trading

That proper planning is the foundation for each step in life as well as in the Forex trade. Therefore, strategic planning is key, especially if you want to put the proper context for everything in your life.And we'll talk in this article about the proper way to plan in Forex trading, the following are talking about planning steps in detail, and We will implement these steps in the trade.

The strategic planning in general consists of the following steps:

First, develop long-term goal

You should put long-term goal, and you have to adhere to the characteristics of the development goals, namely, that the goal which can be reached, and that the target is selected, and capable of being calculated, and has a relationship to what you're coming, and within a specific time frame. To clarify the picture more accurately give an example of careful, you do not have to say that our goal of Forex we get the profits of many, but we must say that our goal after 10 years that is reaping the profits of 100 thousand dollars and Forex behind.

Secondly vision of the future

You formulate vision of the future in order to give you the motivation behind your business in the forex market, for example, how you want to be after 10 years of Forex trading.

Third, analysis of the current situation

You have to analyze the current situation, in terms of identifying your strengths and weaknesses as well, and then identify opportunities and risks. The analysis of the situation requires a market study very accurately, in terms of the currency pairs that represent the biggest opportunities for trade, as well as the study of the political situation and economic pairs you have chosen, and identify times where the pair is in a state of instability and determine the times of reflection, by studying the charts and the use of indicators art in the forex market provided by the trading platform. Van did not have to have the ability to understand the market in this way you have to stop your trading and now begin to learn Forex as sound.

Fourth, the development of strategies

You have to put the right strategies to reach the long-term goal, and there are several kinds of strategies are limited in the following categories: strategies offensive and defensive strategies, and survival strategies, and exit strategies. For example, if you are from the merchants who love adventure assault do to develop strategies to capture opportunities in the market.

Fifth set short-term goals

You have to disintegration of the long-term goal into short-term goals, in order to regulate the way you think, and in order to facilitate the application process, and put it within certain limits, in order to prevent the dispersion element, as well as to prevent any malfunction in the process.

VI develop tactics

You have to put the necessary tactics to reach short-term goals. That many of the people They can not distinguish between tactics and strategy, but the difference and clear Valtktic is the way to get into short-term goals, while the strategy is to put the proper way to get into the long-term goals.

VII Application

Beginning in the application process, which is considered the toughest of planning, because the application process in general is thought to Article collision, and an attempt to tame the physical world to fit with the moral world.

Eighth feedback

Start to the feedback, a process that is simple, consisting of the following: compare goals with results in the case of the different goals of the results you should review the application, and in the absence of any defect in the application then you review and modify goals.

After you steps up to you, I advise you implement your plans on Forex demo account before deciding to trade in a real account, because in the case of any fault, either in planning or in the application that can discover and modify easily without losing a little something.