Forex Trading Plan

Forex Trading Plan

all retail traders use a Forex trading plan everyday in order to get money out of it. You would not invest all this time in something that would not return any money usually. Hey, noticed I used the word ‘invest’ this time? Yes, it was written on purpose because when you are educating yourself and forming a Forex trading plan than you are investing your time into yourself.

This is most probably the best investment you would ever do in your life, invest in yourself. Retail trading can be very lucrative from a financial side and can get you to replace the job paycheck if done carefully and with the proper mindset. I know day traders who do this as a full time job so it is possible to live a decent life out of trading and collect money each and every month out of the trading activity. It is not just hype or rumors. All you need is a decent Forex trading plan.

So how can you do that? Simple;

1.Create your Forex trading plan

2.Follow your  Forex trading plan

3.Exit when the trade is mature

4.Collect the profit every month

Might seem easy when you write it but some retail traders leave the money they have collected with trading there into the account. This is then usually used in during a risk trade or to over expose a position and that extra money is wiped out very soon, sometimes even very fast too.

So you should avoid this by using an amount of money that enables you to trade as your trading capital and every month end any surplus you would just collect it and enjoy that money. This is also part of your Forex trading plan, have a determined amount of money as your trading capital, enough not to leave you out of the market but also not too much to avoid overtrading and do collect any surplus.

Try to do something from that money, even if in the beginning is not a lot, try buy something for yourself with that money, it will always make you remember that the item was bought thanks to your discipline in trading and your hard earned invested time to educate yourself in the forex jungle.

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