My Trading Plan

Trading Discussion Risk Management Practices
29

Lots of figures here to go buy this is very helpful so thankyou

30

I agree. For me, building a solid trading plan is the best strategy.

31

A good trading plan is indeed very important and useful too. It keeps one sorted imo.

32

It is very difficult to make a profit without trading discipline. It is not possible to make a profit by trading for a long time without a proper plan. The plan helps to make the trading strategy more suitable. If you have no idea where to give stop loss, where to place the trade, where to give the profit level, how to manage the trade, he will never be able to create successful trading.

33

That’s very informative. I read your whole article. It’s amazing, I like your trading plan. Such a neat idea is not usually seen.

34

Have been into Forex trading for the last few months. Looking for some expert tips that can help me keep my emotions aside. Thanks in advance.

35

Your risk management looks well thought of. Keep up the good work.

36

Strongly agree, Your trading plan can include anything you would find useful, but it should always cover:

  • Your motivation for trading
  • The time commitment you want to make
  • Your trading goals
  • Your attitude to risk
  • Your available capital for trading
  • Personal risk management rules
  • The markets you want to trade
  • Your strategies
  • Steps for record-keeping
37

Proper money management and risk rewards should be maintained to make a consistent profit in trading. Success is never achieved if risk rewards and money management are not properly maintained.

38

I am glad you started with your risk management. Your plan looks okay and can be improved a bit. Also, pay good attention to your money management.

39

I am glad you started with your risk management. Your plan looks okay and can be improved a bit. Also, pay good attention to your money management.

40

I think that you have a nice trading plan. But before you apply it on your live account, use it on your demo account to get an idea of whether it will work or not. If it works on your demo account, start small when you go live because the results won’t always be the same when you demo trade and live trade.