Analysis
Trading plan
Written rules covering entry, exit, risk, hours and no-trade conditions.
A trading plan answers in advance the questions you would otherwise answer badly under pressure: which markets and timeframe, what a valid setup looks like, exact entry, stop and target, risk per trade, and when to stop for the day.
Rules must be testable after the fact — conditions rather than impressions. Equally important are the no-trade rules, since the losing trades you never take require no recovery. Amend the plan between sessions with a written reason, never mid-trade.
Taught in these lessons
- What is a pip? — Forex Foundations
- The bid, the ask & the spread — Forex Foundations
- Risk management basics — Forex Foundations
- How to choose a broker — Forex Foundations
- Order types in practice — Charts & Execution
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