Winning forex mid term trading system

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Enter the characters you see below Sorry, we just need to make sure you’re not a robot. Without a trading plan you’re just gambling in the markets. Learn how to make a trading plan, and put the edge in your favor. Before taking on an endeavor, it is wise to have a plan. A plan is critical, and in trading there are multiple reasons for having one. The plan also gives you objective feedback on whether your style of trading is working or not.

If there is no plan it is very hard to determine what was profitable and what wasn’t after many trades. Why did I take that trade? With a trading plan you always know why you took a trade. Making decisions randomly means there is no research behind what you are doing, it is just an impulse or whim. Trading in such a way is like taking out a boat out with no paddles and hoping the current takes you to the right location.

Each whim has a chance to work out, and may even work out several times in a row, but luck eventually runs you. A trading plan is composed of three basic sections: Entry Rules, Exit Rules and Money Management. All three aspects work together to create a system that suits your personality and that you can actually adhere to. It is upon these decisions the rules of your trading plan are built.

All are viable, but not the same. Pick one, and stick with it. Don’t try to learn all markets at once. It may be better to focus on a trading strategy where you can look for trades in the evening and put your orders out for the following day. Forex and futures trading are open around the clock, making them a more flexible alternative than stocks.

Stocks tend to be the most capital intensive for trading. That said, trade the market you are interested in. Preferred time frame, goals and personality? These may seem like different questions, but they are all linked.