What Should Be in your Trading Plan?

Yesterday, we talk of the importance of having a trading plan. Today you will know exactly what should be in your trading plan.

1. Trading System: This is your heart of your trading plan. Include all the necessary information about your system: time frame, risk, etc. This system should have been tested for at least two months in a demo account.


2. Your trading routine: This will determine three very important things: when you will analyze the market and plan your trades, when you will actually watch the market to take trades, and when you will evaluate your actions during your trading day.


3. Your mindset: One of the most difficult things to do when you are trading in Forex is to take out your emotions from it. Example: I will see what is in the chart and not what I want to see; I will not get revenge at the market if I lose a trade.
   
4. Your weakness: We all have our weakness, but instead of not talking about it, we should know where we need to improve. Examples: I tend to overtrade; I tend to exit early on trades.


5. Your goals: To make a lot of money is not a good goal. Think about what you want to accomplish as a trader.


6. Your trading Journal: This will make you became a better trader.

And remember we all need help, we just can do it alone, so if you need help try our forex signals, at http://www.fx-megaforex.com/ or invest in a robot trading system at: http://www.forexmegatrion.com/.

Why Have a Trading Plan?

You can have lots of information but if you don´t have a plan to stick to it you will not be profitable. Think of your trading plan as your map to success. It will be a reminder on how you will make money in this market.
I will give you a few reasons why is better to have a trading plan.

1. It keeps you in the right direction: Consistency is very important to have in your trading routine because truly measure how successful you are as a trader. Your trading plan will keep you on target.
2. Trading is a businees and successful businesses ALWAYS have plans: I have never seen a successful business without a plan. Whether it’s by luck or experience, everyone can make money in the forex. However, the difference between a losing trader and a successful trader is the PLAN. If you have a good trading plan and you are disciplined enough to stick to it, you will be successful!

And if you need and extra help, go to http://www.forexmegatrion or

http://www.fx-megaforex.com.