You should have one. Simple as that. Of course, there is a total studying method and
you will be trying out specific Forex buying and selling strategies. Eventually you need to decide
what works first-class for you and discover that part.
Your aim is to create buying and selling plan. You have to write down matters like:
- which foreign money pair you trade
- which time frames you trade
- when you enter a alternate (based on what approach / signals)
- when you exit a change (based on what approach / signals)
- quit losses – what is your danger per trade
- taking earnings and cash management
If you do now not have matters like this written down, then you will be altering lot of things
at once. That way you will by no means discover out what you are doing wrong. I noted earlier
that there are merchants who can watch fee motion and wait for 1 or two merchants which fit
entry prerequisites from their buying and selling plan. Thanks to the truth that they have a strategy,
they recognize what they are ready for.
When you do now not have that form of records (from your buying and selling plan) then you act
based on a hunch or emotions. That is no longer a way how you prefer to trade.
As I said, when you begin to research how to exchange Forex, it is everyday that you will be testing
different structures and strategies. In the end, you must pick one and take your time
to grasp it. And buying and selling graph can assist in that a lot.