Learn how to develop a trading plan, create a trading system and maintain a trading journal.
9Undergraduate - Junior
Developing Your Own Trading Plan
1
What is a Trading Plan?
In creating a trading plan, make sure it answers four questions: What? Why? When? How?
2
Why Do Forex Traders Need A Trading Plan?
Simple. Failing to plan is planning to fail. Remember, 90% of new traders don’t survive their first year of trading.
3
Why Trading Discipline is the Key to Consistent Profitability
Contrary to popular belief, the end doesn’t justify the means. Let us explain why profiting despite deviating from your trading plan is still a loss.
4
How To Find A Trading Style That Suits Your Personality
Yeah, it may sound like a question on a Facebook quiz, but knowing yourself is critical in finding the right system.
5
What is Your Motivation to Be a Forex Trader?
Good goals should be specific and realistic. Why?
6
What Is Your Risk Capital? How Much Money Can You Afford To Lose?
How much money can you trade with? Can you afford to lose all of it? You don’t want to risk what you can’t afford to lose!
Which Type of Trader Are You?
1
Know The Different Types Of Trading Styles
No two traders are alike. Our unique personalities will lead us to trade differently from one another.
2
Scalping
Scalping requires laser-sharp focus, the ability to thrive in fast environments, and high tolerance for stress. Do you have what it takes?
3
Day Trading
Do you think day trading is for you? Check out the things to consider before day trading.
4
Swing Trading
If you like holding on to trades for more than a few days, swing trading could be for you.
5
Position Trading
Position trading requires patience to hold on to trades for months or even years. Is it for you?
6
What Type of Forex Trader Are You?
Make sure that your trading style matches your unique personality. Here are the characteristics of each type of trader.
Create Your Own Trading System
1
How To Create A Mechanical Trading System
Mechanical systems generate signals under a certain set of predetermined conditions. The first step is to figure out the goals of your system.
2
Design Your Trading System in 6 Steps
Need help creating a mechanical system? Here are six easy steps for you to follow.
3
Build Your Trading System in 3 Steps
Here’s a simple example of how you can build your mechanical system. It’s as easy as pie!
4
What Time Frame Should You Trade?
What time frame should you trade your system on? The smaller the timeframe, the more difficult it is to develop a successful system. In other words, developing a system to trade on a 5-minute chart is more difficult than developing a system that trades on a daily chart. There is a lot more noise on …
5