ForexSecret123 (1)

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Forex trading plan why you need it and how to
make it?

• Theforexsecter.com

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• If you want to be successful in forex trading you
  have to plan for the future. If you decide to
  enter the forex market without preparation, it is
  very unlikely that you will be successful in the
  long run.
• You have to learn what you are looking for.
  Experts always emphasize the importance of Forex
  trading. It not for the new traders only but also
  for the advanced traders.
• This article will help you to understand the
  importance of Forex trading so that you can use
  it properly.

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What is Forex Trading Plan? The Forex trading
plan is not different from any other trading
plan. We try to give you an outline of trading
activities. There will be some specific
activities that you will follow. Once you have a
proper guideline it will be easier to follow them
and put them in your practical life.  A trading
plan can help you to understand the market better
and then you can apply it in your real life. A
proper trading plan can help you to manage your
trading decision in a batter way. A proper
trading plan can save you from silly mistakes and
also help you to evaluate your gain and loss. 
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Making a good forex Plan     At the beginning
developing a plan is very simple. The first step
is to determine how frequently you want to trade
and how many trades you want to open per week or
par day. Then determine the duration of your
trade. This is very important, your plan should
indicate the time dimension you are going to use
on trading.  If you want to be a day trader you
should plan for 24 hours. If your position is
near to a few days, it is better to have a plan
for over a week. Once you determine the day
trading it is better to consider a day or a week
as an aspect for your trading plan. 
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In a few cases, you have to use months which is
very unlike. For example, assume that you are a
day trader, So lets consider the day a unit of
our plan because most of the trader use the day
as a unit.   Now add a few limitations to your
trading plan. Take the number of winning trades
and then multiply the amount to 1.2 which means
if a trader performs 20 trades on a daily basis,
on a day six traders are wining ones so a trader
should not trade more than seven times a day.   
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What fault we make in Forex Trading Plans
    Most traders prefer setting up a trading
plan which has to be solidified on paper. The
plan should be very clear in your mind. The
trading is not a Shortcut or an instant guarantee
for trading. In fact, it is simple that you do
not follow the rule.   
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Conclusion     The main thing is the trading
plan is theoretical in nature, they sound good on
paper but it cannot be compared with the intense
pressure of the market. From the traders point
of view step by step, the guideline is needed to
cover the gap between the trading plan in theory
and action. Use a proper demo account to develop
your strategy.