This article will show Forex trading plan examples.
What are your trading goals?
Yes, I love to make money, but should be more focused on the forex trading plan, discipline, trading systems and financial management.
Some successful traders earn 3% a month in forex markets. So my trading goals are 3% a month in forex markets.
What types of trading you are interested in?
I like grid trading strategies.Therefore I always pick range markets. Basically I would choose AUDUSD or USDJPY.
what are you forex trading strategies?
Surely I would use grid trading strategies and multiple time frames,daily chart and 4 hourly chart.
What proportion of your account are you prepared to risk on each trade?
About 50% of my account and I will fund my forex account with $10000.
How many positions am I prepared to run at any one time?
0.01 or 0.02 lots.
What is the maximum account exposure I am prepared to accept?
The max account exposure is $1500.
How are you keep records of your forex trading?
Some beginners always neglect this aspect of the forex trading plan.However Successful day traders write a day trading journal every day.
I will write day trading track records and day trading journals.
A day trading journal includes:
First every day I will look out the forex news events.For example,US presidential elections 2016.Some successful day trader would avoid day trading.
Forexfactory has a calendar with all the red news.
Second analyze the general trend by looking at the weekly or daily chart.Because the successful day trader also read the daily chart.
It is the forex trading plan example.
Creating a forex trading plan is a simple task. As a beginner have to build your own forex trading plan before jump in the forex markets
More reading Formatting Your Trading Journal for Success
What are your trading goals?
Yes, I love to make money, but should be more focused on the forex trading plan, discipline, trading systems and financial management.
Some successful traders earn 3% a month in forex markets. So my trading goals are 3% a month in forex markets.
What types of trading you are interested in?
I like grid trading strategies.Therefore I always pick range markets. Basically I would choose AUDUSD or USDJPY.
what are you forex trading strategies?
Surely I would use grid trading strategies and multiple time frames,daily chart and 4 hourly chart.
What proportion of your account are you prepared to risk on each trade?
About 50% of my account and I will fund my forex account with $10000.
How many positions am I prepared to run at any one time?
0.01 or 0.02 lots.
What is the maximum account exposure I am prepared to accept?
The max account exposure is $1500.
How are you keep records of your forex trading?
Some beginners always neglect this aspect of the forex trading plan.However Successful day traders write a day trading journal every day.
I will write day trading track records and day trading journals.
A day trading journal includes:
First every day I will look out the forex news events.For example,US presidential elections 2016.Some successful day trader would avoid day trading.
Forexfactory has a calendar with all the red news.
 |
| US presidential elections 2016 EURUSD 1H chart from ctrader |
Second analyze the general trend by looking at the weekly or daily chart.Because the successful day trader also read the daily chart.
For example USDJPY daily chart is in downtrend.
 |
| USDJPY daily chart down trend |
Creating a forex trading plan is a simple task. As a beginner have to build your own forex trading plan before jump in the forex markets
More reading Formatting Your Trading Journal for Success
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