To make sure of yourself you are going on the right path in your business you have to answer the following question honestly: Do you have a plan of action in the routine of your daily trading? Or you are just open and start trading transactions randomly without logic behind your actions? If your answer is yes then you are on the right path, either in case your answer is no then you should reconsider your style of trading.
In the event that your answer to the question is not, then you have to put your business "road map" to guide your business to get what you want is profit. Even if I wanted to spend a family vacation with your family you have to plan for it to make it a fun-filled and relaxing through the development of a program of holiday and followed at the start of the holiday, and thus avoid the chaos and differences, and enjoy the fun and laughter. That planning makes your life simple and easy in terms of the implementation of the projects in your life and your business, lies the secret behind the planning is very easy to develop a plan to implement a complex target.
The following steps are the only measures should be taken into account when planning for the Trade:
Step 1: Place the roadmap based on graphs and Economic News
You have to make sure that your plan and crystal clear, and be simple for easy application, and within a clear time frame. With a choice of variables that you need to follow in the Forex market, you have to be aware of the need not to neutrality plan that stick out is essential in different market conditions.
Step 2: narrowing to focus more variables
You are in the forex market you do not need to follow all the variables, but you have to narrow the variables to suit the currency pair that you chose to trade him, and therefore, this stenosis more or less than your ability to focus on the market, and reduces the burden on the brain so that shift your focus to the angle one.
Step 3: Stop Loss and collect profits
The importance of this step in being restrain yourself from fear and greed, but it is worth noting the need to determine the levels of stop loss and assembly of profits in a logical manner, there is a significant risk of developing these orders arbitrarily, because these orders may turn against your business in the end, you must determine the resistance levels and support a logical way based on mathematical theories and therefore, you are reducing the risk significantly.
Step 4: Test your plan
You have to make sure of the effectiveness of the plan, which followed through applied on a demo forex account at the outset to be able to learn where the weaknesses and thus can correct these points in order to reach your business to success, when you open a real account.
Step 5: Track Trade is a record of your progress
The next part of the road map is simple, which is sure to record all faced trading in the notes, in order to document the experience gained and can learn from the mistakes of the past in the future. This step increase consciousness and knowledge in the Forex market, you can see through the problems that you experience, and identify the fields that diminish your experience, in order to develop yourself in these areas.
Step 6: Challenge yourself
The challenge is interesting and self where what you do not find pleasure in anything else. Some people have difficulty in completing the simplest tasks, but few people can hold out until the last round. Trade is need to focus and discipline, especially when your commitment to the plan entirety.
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