What trading plan should cover ?
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Thread: What trading plan should cover ?

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    Lightbulb What trading plan should cover ?

    I your plan should cover these thing in the trading and if it cover then it will be a good plan in the trading.

    1 The method and strategy you use foe identifying entry signals

    2 Exactly what entry signals look like

    3 How you enter all trades

    4 How you place stops on all traders

    5 How you manage each trade

    6 Where and how you take profit

    7 How much you risk

    8 How many positions you open

    9 Policy on correlating pairs

    10 Times you trade

    11 Whether you hod over weekends of not

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    Rookie mohamed reda's Avatar
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    Quote Originally Posted by sam9630 View Post
    I your plan should cover these thing in the trading and if it cover then it will be a good plan in the trading.

    1 The method and strategy you use foe identifying entry signals

    2 Exactly what entry signals look like

    3 How you enter all trades

    4 How you place stops on all traders

    5 How you manage each trade

    6 Where and how you take profit

    7 How much you risk

    8 How many positions you open

    9 Policy on correlating pairs

    10 Times you trade

    11 Whether you hod over weekends of not

    yes that is so important things and any strategy must depend on this things to be able to trade successful .and also you must know the type of your strategy is it a scalping or a long term strategy ?? all this things will give you the ability to trade with any strategy successfully .

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    According to me first of all we have to check with the fundamental news and after we can find out the best support and resistance parts for entering in the market and before making any trade we should have knowledge of our profit and risk ratio it will be good for all of us

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    Registered user zintek's Avatar
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    Your plan should protect all factors of forex dealing, you should study it daily until it is for your convenience so that when you are dealing quick paced market.

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    Rookie martyn's Avatar
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    trading plan usually varies depending on the way that we use trading. I usually make a trading plan with a focus on the reserve fund, because I am trading forex with long-term, then I do not need to set when to enter or exit, and I just need the funds ready at any time for me to use to avoid a margin call or stop out

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    Very well specified as regards to what a properly established trading plan is all about, I wouldn't have explained it better, and if a trader puts this into consideration then he or she has laid a proper foundation for his trading career.

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    Trading plan should cover good strategy,technical and fundamental analysis.Money management to face the losses and make profit in this business.A trader must have proper knowledge and skill to make a good plan.Plan should also cover How to enter,manage the trade and how much time we spend to trade.

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    Forex trading business is the most profitable and growing business on all over the world . it is the best source of income .trading plan should cover good strategy ,technical and fundamental analysis .money management to face the loses and make profit in this business. a trader must have proper knowledge about the Forex trading business.

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    My trading strategy is i create and hold my position at one side only and that decision taken by me by analyze moving averages and derive a number which help me decide the support and resistance level, so I create a position and hold it with out using stop loss. Then I do average one more quantity if necessary so that from 2 nd level entry I can have a quick exit. and I made over all profit.
    So always trade as per your money management skills and risk taking capacity.

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    Forex trading is the most profitable and growing business to business all over the world. It is the best source of income. Good trading plan strategy, technical and fundamental analysis should cover. To gain experience and the business loses money management. A trader must have proper knowledge about Forex trading business.

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