|
| |
 | |
|
|
Currency Trading Information Channel |
 |
|
|
| |
|
| |
|
|
Currency Trading Information Channel |
|
|
|
|
|
Writing A Trading PlanAll professional traders have a trading plan. Trading futures is a zero sum game and those with a plan (and the discipline to apply it) will succeed over those that have no plan. A plan details the particular market anomaly that you intend to exploit - your edge. Human emotion creates anomalies - essentially, the fear and the greed of those that have no trading plan. Creating a trading plan and rigidly applying that plan allows the professional trader to eliminate emotional responses from his trading. Let's look at what your written trading plan should cover: Trading concept - What anomaly is your trading strategy intending to exploit? Timeframe - The shorter the timeframe the more trades that can be made. However short term trading leads to lower reward:risk ratio's and higher commission costs. Instrument - There are many different ways to trade essentially the same idea - options, futures, exchange traded funds etc. Which offers the most reward for your trading concept? Entry - How will you open your trade? Exit - How will you close your trade - A stop loss should be placed at a point where the trading concept become invalid, this could be a specific price or a certain length of time. A profit exit must also be established - again either a certain target price or a timed exit. Money Management - How much capital is required to trade the strategy and how much should be risked on each trade to maximise returns whilst minimizing the risk of blowing the account? End of Day Routine - At the end of each day every trade should be compared to the trading plan and any variances should be addressed. Remember the plan is their for a reason and you must trade it exactly. If a change is required then it should be properly tested before being added to the plan. No decisions should be made whilst a trade is live. Brokers - Which broker will you use and how will you trade? Automating a trading plan through the broker's API will help to eliminate any emotional responses. Your plan will require constant revision as the market dynamics change. If you have noticed a market anomaly then it's very like that many of your competitors have as well. "If you don't know where you are going, any road will take you there." Lewis Carroll
 MORE RESOURCES updated Thu. March / 30 / 2023There's a Forex market crisis in Iran. The root cause of its problems is the clerical establishment. Atlantic Council U.S. Dollar Trading Sideways, Waiting For Fed Info Forex Factory FCFmarkets.com Review: How to Earn Money from Forex Trading? Business Review GoldberryCo.com Review: Make Your Fortune in Forex Trading Business Review The benefits of adding forex trading to an investment portfolio Business Review Understanding the different types of forex trading strategies Ripples Nigeria The US Dollar's Impact On Forex Trading ValueWalk USD/CAD to face stickiness in core US PCE FOREX.com US USD/CHF Forecast: USD Looks Supported Against the CHF DailyForex.com Russell 2000 Needs to Break Out of Its Trading Range Investing.com India Form 424B2 CANADIAN IMPERIAL BANK StreetInsider.com Currency trading and its 7 pairs Pulse Ghana Canada shares higher at close of trade; S&P/TSX Composite up ... Investing.com India USD/CAD: Near-Term Lows Challenging Important Support Ratios DailyForex.com Tues. 8:40 a.m.: Wall Street quiet as stability appears to return for ... - Warren Tribune Chronicle Tues. 8:40 a.m.: Wall Street quiet as stability appears to return for ... Warren Tribune Chronicle Asian shares mostly rise on relief over US bank strength KSAT San Antonio TRY/USD Forecast: The Lira Continues to Decline DailyForex.com USD/INR: Steep Nosedive Mirrors Major Currency Pairs Lower DailyForex.com UBS, Citi hire into APAC in desk reshuffles - The TRADE The TRADE News Why does it cost almost $40 to exchange $200 at the airport? It’s time for travellers to get a better deal Toronto Star USD/SGD: Intriguing Price Movement for Speculative Traders DailyForex.com FirstFT: First Citizens agrees to buy Silicon Valley Bank Financial Times Why you can’t get dollars while banks hold billions Business Daily EUR/USD Technical Analysis: Strong Overbought Levels DailyForex.com EUR/USD: Speculative Volatility Facing Day Traders This Week DailyForex.com Canadian Dollar to US Dollar Exchange Rate See-Saws with ... Interchange Financial Gold Technical Analysis: Gold Price Remains Strong DailyForex.com CEO Of Cryptocurrency And Forex Trading Platform Pleads Guilty To ... Department of Justice Federal Court Orders Texas Fraudulent Forex Trader and His ... Commodity Futures Trading Commission Is Forex Trading Legal? Public Finance International What Are The Benefits of Forex Trading Public Finance International Who Controls The Forex Market DailyForex.com What Are the 4 Types of Forex Traders? Which One Are You? DailyForex.com Is Forex Trading Halal or Haram? Public Finance International What are the different forex trading sessions? InvestingCube Best Pairs To Trade In Forex Public Finance International When is The Best Time To Trade Forex? Public Finance International What is FX trading? MoneyWeek What Is Lot Size in Forex Trading? A-Z Guide! DailyForex.com Learn why Binomo is better than Forex? The Economic Times Forex vs crypto: what are the differences? IG International Two Men Plead Guilty in $30 Million Foreign Exchange Fraud Scheme Department of Justice What Is Forex Trading? Finance Monthly CEO Of Cryptocurrency And Forex Trading Platform Charged With ... Department of Justice Is Forex a Pyramid Scheme Public Finance International
|
