How to make a Forex trading plan

Many beginners don't care about the Forex trading plan and journal, they just want to make extra income in Forex trading. So, there is an old saying:"fail to plan and you plan to fail". Today I will show you how making a Forex trading plan. 

First of all, I always develop a Forex trading plan and follow their plans, tips, rules, systems.

• I believe that it will clear a yearly goal.
• I believe that it will define my Forex trading strategy before I enter into a trade.
• I believe that it will define the entry and exit points
• I believe that it will define my money management
• If I follow my trading plan, I can manage the emotions.

Second, it is my simple Forex trading plan.

• I want to set a monthly goal about 5%
• I am going to open a Forex account with $6000 at 10:1 leverage.
• There are many currency pairs to trade in Forex market. However, I focus only on trading AUDUSD. 
• I will create a checklist before trading Forex.
• I will use the time frame analysis to find the entry and exit points
• Use a trend line to identify the dominant trend on the weekly chart.
• Once I have determined a trending market, I will trade with the moving average strategy on the daily chart.
• If a trend is not present, I will trade with the grid trading strategy on the daily chart.

Third, experienced traders take demo trading more seriously, they think they can learn the necessary lessons before live trading. Therefore, I am going to open a demo account and practice the Forex trading strategy. 

Fourth, I'd like to develop a Forex trading journal to track my performance.

At last, if you are planning to start the forex trading career, you have to make a Forex trading plan. I believe that whether you're a novice or an expert, it should be the backbone of your trading.