Novice traders don't want to take time to build Forex investment plans, develop a forex trading strategy and maintain a trading journal. They would like to make most money in the shortest time! Ha ha, it is absolutely impossible. Now I will show a forex trading investment plan.
First, what a real forex trading goals for beginners? Rookies are expecting a 300% return per month. In fact, experienced traders are able to get 13% per month. Therefore, they always set investment goals about 10%.
Second, why would you want to invest in forex? Rookies just want to make extra income in forex trading. They never loved trading forex. But veteran traders really love it from the bottom of their hearts. They want to learn how to trade forex.
Third, how much can you afford to invest in forex trading? Many beginners only have $1000, but they want to make $50000. It is obviously impossible! A professional forex trader will open an account with at least $10000.
Fourth, I will open a trading account with $20000. But I just use a small percentage of it. For example, 30%-40%. I will never risk more than 10% per trade.
Fifth, before trading, beginners never check the direction of the trend. So I will build a checklist before trading forex.
Sixth, which currency pairs should I trade? I will use the moving average strategy. So I will select a pair that is right for my trading strategy.
Seventh, how to build your forex investing strategy?
First, what a real forex trading goals for beginners? Rookies are expecting a 300% return per month. In fact, experienced traders are able to get 13% per month. Therefore, they always set investment goals about 10%.
Second, why would you want to invest in forex? Rookies just want to make extra income in forex trading. They never loved trading forex. But veteran traders really love it from the bottom of their hearts. They want to learn how to trade forex.
Third, how much can you afford to invest in forex trading? Many beginners only have $1000, but they want to make $50000. It is obviously impossible! A professional forex trader will open an account with at least $10000.
Fourth, I will open a trading account with $20000. But I just use a small percentage of it. For example, 30%-40%. I will never risk more than 10% per trade.
Sixth, which currency pairs should I trade? I will use the moving average strategy. So I will select a pair that is right for my trading strategy.
Seventh, how to build your forex investing strategy?
- I will use the multiple time frame analysis to find the best entry and exit points.
- Use a trend line to identify the direction of the trend on the weekly chart.
- Once I have identified a trending market, I will trade with the moving average strategy.
- Once I have determined a ranging market, I will use the grid trading strategy.
Eighth, I should try to avoid large losses. So I will open a demo account and practice my forex investing strategy.
Ninth, professional traders will keep a forex trading journal. They think it can measure, track their trading performance. So I think it is important to keep it and I will update it every evening.
At last, there is an old saying: "success comes from hard work". So if you don't create forex trading investment plans, you will not make more money as a trader. Now it's time to write your forex investment plans.
At last, there is an old saying: "success comes from hard work". So if you don't create forex trading investment plans, you will not make more money as a trader. Now it's time to write your forex investment plans.
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| Forex investment plan can clear your trading goals |
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