Forex Trading System Trading Plan 2 - Why you need a trading plan to trade Forex

{}Posted in2023/2/25 8:26:05 | 6Browse

A forexrebatecommissionef="https://www.ccityrebates.com">best forex rebate company rebatesforexbroker will make trading easier than when you bestforexrebatecompany have a trading plan Think about when you use a GPS navigation device, you just enter the location you cashback forex going to fxrebatecentral it will analyze your current position and tell you how to get to where you are going You can constantly verify through the GPS that you are on the right path If you make a wrong turn, it will The trading plan is your trading GPS that will tell you where you are as a trader and then help you get there: consistently profitable. But we dont know what that is. Please stop making such ridiculous suggestions. Trading without a trading plan is as bad an idea as driving without a GPS. Its like having a GPS, you can constantly monitor your performance which makes trading less emotional, less stressful without a trading plan, which is basically impossible instead you become a cowboy trader, acting recklessly, trading without thinking, relying only on your guts and strangers guesses and signals trading thats not trading thats gambling every time you trade, youre very nervous, emotionally Every time you trade you are nervous, emotionally out of control, in tears because your roller coaster account is torturing your nerves (too dramatic, but I think you know what its like) just like you use your GPS to find your driving route and judge the process, your trading plan helps you determine the path to continued profitability and tells you if you are on the right path or not and more importantly, if you are not good at trading (which you will be at the beginning), you know it is due to One of the following two causes: there are problems in your trading plan, or you dont stick to your trading plan If you dont have a trading plan, you dont know what to precept You have no way to evaluate your results and you cant know how to grow We cant stress this enough…… If you dont have a plan, youre bound to fail Obviously A trading plan does not guarantee success, but follow a good trading plan and you will survive in the forex market longer than traders who dont have a trading plan Its better to survive than to fail, and thats your first goal as a newbie Remember, 90% of new traders cant do this You must want to be part of that special 10% Youre probably thinking, Liar! A trading plan? I can be one of the 10% who trade blindfolded without sticking to a trading plan. It may be nice, but if you dont have a clear and well-defined trading plan and dont stick to whats in it, you certainly wont benefit consistently as a trader!

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