Everyone
is talking about that they have a plan for trading in Forex, and for that they
have a strategy for trading in Forex. And have seen these two things that they
are alike, especially for novice traders, but they were not the case, although
that all traders in the Forex markets is bound to have a plan and Forex
strategy, and that traders are successful already have these two things, there
is no You must know the difference. Trading plan must include a strategy for
trading, but Forex trading strategy would not have a trading plan ... Is it
confusing? There are more than words can we use games, but there is no time for
that.
1.
Forex trading plan:
Forex
is the plan which will be doing today, and do not mean that determine what will
sell or buy, and where will the buying and selling, but planning is the process
of behavioral tactic. Select the hours that will work out on paper, and record
in your own trading plan Which currencies will handle the pairs. As you must
register aspects of the discipline required of the person, in other words, some
traders considered shy and they would like to do more daring attempts, and vice
versa. Put your own trading plan, and remind yourself that you schedule
adherence, and to not let your emotions become a barrier or a burden and it is
the worst. In short, without the daily financial goals (logical is the basis,
taking into consideration that some days will be closed).
Keep
a record, and do not record it all the wonderful things that you have made on a
particular day, but (and more importantly) respects she feels need to develop,
where you will use this day as a list, and will work to develop your trading
operations on an ongoing basis . If so focused on all of these things, you will
be able to be more objective and less reactionary in your actions. And nothing
is more destructive of the non-trading in the Forex calculated.
2.
Forex strategy:
And
then there are Forex strategy. Strategies include things like "Elliott
Wave Principles," "Fibonacci tools", "Bollinger
restrictions" and other names that fit orchestras. In order to develop
your own Forex strategy, you have to take the time to study the multiple tools
deployed in the market. The reason that these tools work is that there are a
lot of people who use them, if there were a large number of people who do the
same work and getting the same results, you cannot discuss the quality of this.
Other
parts of the Forex strategy includes simple notes, for example, if you look at
the historical tables of any currency pair in the Forex (or any goods market)
will notice that when the market is divided after reaching its peak, it is
strongly divided and speed. However, when reflected After reaching the bottom,
it is rare that it is moving to the top directly, but rises wavy. Such things
must affect your strategy in terms of determining what kind of trader you are
in terms of time frames.
Every
time you change Forex trading strategy, do her experience first in the Forex
demo account, because when you are trading real your money, it is better to be
assured of the system you are using. The Forex Forex plan and strategy are a
women with two units and one value, and it takes time and patience and
thinking. When bringing your trading account, you will learn how this is done.