Develop a trading plan to guide your actions from "summary" of Profiting With Forex by John Jagerson,S. Wade Hansen
Creating a trading plan is essential for any forex trader looking to succeed in the market. This plan serves as a roadmap that guides your actions and decisions, helping you stay focused and disciplined in your trading. Without a plan in place, you may find yourself making impulsive trades based on emotions or external factors, which can lead to losses and missed opportunities. A well-thought-out trading plan should outline your trading goals, risk tolerance, and trading strategy. Setting clear and achievable goals will give you a sense of direction and purpose in your trading. It is important to be realistic in your goal-setting and to have a clear understanding of what you hope to achieve through your trading activities. In addition to setting goals, your trading plan should also address your risk tolerance. This involves determining how much risk you are willing to take on...
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