Trading strategies As you can probably imagine, trading strategies vary according to the individual trader. Despite the differences, each trading plan should display clearly defined rules of engagement for both entry and exit signals. A setup is essentially a repetitive ‘pattern’ that provides a high-probability signal to trade the market. Whilst we recommend noting each … Continue reading How to build a Trading plan: Part Three
As briefly highlighted in part one, the staple behind any respectable trading plan will place a strong emphasis on risk and money management principles. What is your overall market risk? Overall market risk is the maximum permissible amount of capital at risk at any one time. As an example, let’s say that we have set … Continue reading How to Build a Trading Plan: Part Two
What kind of response do you think you’d receive if you were to ask ten willing traders for a copy of their trading plan? Our guess is less than 30% would reply. This highlights a clear problem and may help address why so many find it difficult to accomplish their goals in this business. A … Continue reading How to Build a Trading Plan: Part One
Trading consistency epitomises financial freedom, providing traders choice and independence. For most, this was the motive behind initially getting involved in trading – being able to live the life you want on your terms. Learning to trade the markets, however, requires a substantial time investment, often underestimated by newer traders. Several factors need checking off; … Continue reading How Long Will It Take Before I Can Expect Trading Consistency?
Updated April 2020 Odd as it may sound, traders often find it a challenge to take profit. This is an issue every market speculator likely contends with at some point. Just as you have a series of rules to enter the market, you must equally have a strategy to exit. A strong psychological element usually … Continue reading Taking Profits in the Forex Market
