Let's discuss your views about Forex Trading

A successful trader would tell you that all you need is
-- to master your psychology, and stick to your trading plan.
-- But, what makes a good trading plan?

Here are 5 simple tips on a good trading plan.

1. Set according to your financial objective(s)
- You should take into account what is your current capital, and how much returns do you aim to (realistically) generate from it on a monthly or annual basis.
2. Caters for the specific strategy of your choice
- Your trading strategy highly depends on your personality and lifestyle, short term trading would require more time. While the longer term trading or investing would require less. Are you a more laid back investor seeking returns in the long run, or do you prefer to be more active and trade daily? Regardless of which, your trading plan should be designed according to the strategy of your choice.
3. Has clear entry & exit criteria ( Risk to Reward )
- What criteria will you use to decide when to enter and exit the market? Not knowing this will cause you to buy and sell based on hearsay or emotions, which aren't sufficient to give you confidence in your trades. Having a clear entry and exit strategies and criteria will provide more clarity and confidence in your trades.
4. Is a repeatable process
- Your plan should have a series of actions that can be repeated on a regular basis. Not only it simplifies the investing/trading process for you, it also helps you approach the market in a systematic way. This will eventually help you save lots of time compared to using a different process each time you trade.
5. Includes journaling
- A journal tracks the outcome of your plan execution. It helps ensure you follow your strategy instead of your emotions, and that you learn from your experiences (especially your losses).

Every investor and trader should have their own trading plan so that they are able to avoid emotional investing. As Warren Buffett said:

"If you can’t control your emotions, you can’t control your money".

Let us all take a step towards managing our emotions and our money. That's all for this week. Look out for our email on the 3 essentials that you need to do before investing next week!

HI DEAR,

I am part time day trader and in search of profitable strategy whose

win rate atleast 60% and risk to reward ratio would be 1:2.

if do u have that type strategy plz share .

thanks

Dear you have to at least spend 12 hours every day to get this type of Results

If you can spend 12 hours every day in a Row than this is possible.

Let me know :-)

We are designed by society.
Red = Stop
Yellow = Ready
Green = Go
When we are waiting on RED we look at Light to become Green and we go.
In Trading we should wait for the Right signal to go.
Do not Rush for trades, Stay Calm and Focus :-)

STOP has a meaning.

S = Stop ( Look for Signal )
T = Think ( Think about risk management )
O = Observe ( Observe each trade carefully )
P = Practical ( When correct setup open trade immediately )

Use this approach in Trading.

Successful traders never count winning trades.

They count max $$$ earn.

Max $$$ can be earn with high reward strategies.

Example :

I use
1:1 risk to reward
I need more than 50% successful trades to be profitable.

I use
1:2 risk to reward
I need more than 40% successful trades to be profitable.

I use
1:3 risk to reward
I need more than 30% successful trades to be profitable.

Higher the Reward less times you have to be winner on each trade.

If you are luck you have 50% profitable trades.

50 hit loss 1% = 50% loss
50 hit profit 3% = 150% profit

150 - 50 = 100% profit

Once you will approach trading in this way you will become highly successful.

YES. I can spend 12 hours every day . let me know if u have 50% or 60% win rate with atleast 1:2 risk and reward strategy.

Dear go to this thread and see strategy

https://www.forexfactory.com/thread/1106985-successful-trading-strategies?page=4

You will definitely make good money of you follow this strategy :-)

GBPJPY
BUY 153.10
SL 152.90
Target 163.20

Hi Friends
Anyone can give answer to my Questions.
If you give answer I will give you FREE prop Account.
Send me answer in DM.
I have answers to these Questions that's why I am asking these Questions.
1. How to make Trade Breakeven without moving Stop Loss.
2. How to add on trades without risking money from capital amount.
3. How you can remove 90% of Losing trades from your trading

Happy Trading :-)