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 your
daily trading routine? Or are you just open trades and start trading randomly
without logic behind your actions? If your answer is yes then you are the right
path, either in the case of your answer is no then you should reconsider your
style of trade.
In
the event that the answer to the question is not, then you have to put your
trading to the "road map" to guide your trading about getting what
you want a 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 a program
of holiday and followed at the start of the holiday, and thus avoid chaos and
disagreements, and enjoy the fun and laughter. The plan makes your life simple
and easy in terms of implementation of the projects in your life and your
business, lies the secret behind the planning is very easy to put a plan to
implement a complex target.
Step
1: Put the roadmap based on graphs and economic news
You
have to make sure that the plan and the crystal clear, and to be a simple easy
to apply, and within a clear time frame. With a choice of variables that you
have pursued in the Forex market, you should be aware of the need not to
deviate from your plan The cohesion it is necessary in various market
conditions.
Step
2: narrowing variables to increase focus
You
are in the forex market do not need to follow all the variables, but you have
to narrow the variables to suit the currency pair you have chosen in order to
reach it, and therefore, this stenosis more or less increases your ability to
focus on the market, and reduce the burden on the brain so that your focus
turned to angle one.
Step
3: Stop Loss and accrue earnings
The
importance of this step in being restrain yourself from fear and greed, but it
is worth referring to the need to determine the stop loss and accrue earnings
logical manner levels, there is a high risk of developing such orders
arbitrarily because these orders may turn against your business in the end, you
should determine the resistance levels and support a logical way based on
mathematical theories and therefore you do to reduce the risk significantly.
Step
4: Test your plan
You
have to ensure the effectiveness of the plan, which followed through applied to
the Forex demo account in the beginning to be able to learn 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 record trade progress
The
next part of a simple road map, which is sure to record all facing in the
trading diary, in order to document the experience gained and you can learn
from your past mistakes in the future. The move increases your consciousness
and you are aware of in the forex market, and you can see through the problems
that you experience, and recognize the fields in which decreases your
experience, so that the evolution of yourself in these areas.
Step
6: Challenge yourself
The
challenge of self is an interesting and fun as what you do not find anything
else. Some people find it difficult to complete 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 your plan.
In
the end, you have to have the ability to withstand the risk and responsibility
for your trading, Trade is is your priority, because the profit and thus much
you are in life, patience and consistency are the title success in forex
trading. We have in the foregoing published an article about strategic planning
in the forex market, which will help you to do proper strategic planning for
your trading in the forex market.