Category: 1. Developing Your Own Trading Plan

What’s wrong with deviating from your forex trading plan if you make a profit anyway? Making an occasional winning trade, even when you throw your trading plan out the window, may provide a short-term pleasure, but entering trades haphazardly can adversely influence your ability to maintain discipline in the long term. Trading is a marathon, not a sprint!…

A trading plan will make trading simpler than it would be if you traded without one. Think of when you use a GPS device. (Or Google Maps on your smartphone.) You enter where you want to go. It then figures out where you currently are and then shows you how to get to where you…

Now that you’re about halfway through our College of Forex, here’s one piece of advice you should always remember. Be your own trader. In other words: Don’t follow someone else’s trading advice blindly! Just because someone may be doing well with their method, it doesn’t mean it will work for you. We’re all in different situations in…