The main difference between making money and losing is trading with or without a plan.
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76% success rate
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Amount to risk per trade
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Up to 5 signals daily
76% success rate
Entry, take profit & stop loss
Amount to risk per trade
Risk reward ratiomonth
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Up to 5 signals daily
76% success rate
Entry, take profit & stop loss
Amount to risk per trade
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Up to 5 signals daily
76% success rate
Entry, take profit & stop loss
Amount to risk per trade
Risk reward ratioSeparate Swing Trading Group
Up to 5 signals daily
76% success rate
Entry, take profit & stop loss
Amount to risk per trade
Risk reward ratiomonth
1 - month
Subscription
Up to 5 signals daily
76% success rate
Entry, take profit & stop loss
Amount to risk per trade
Risk reward ratiomonth
3 - month
Subscription
Up to 5 signals daily
76% success rate
Entry, take profit & stop loss
Amount to risk per trade
Risk reward ratiomonth
Most popular
6 - month
Subscription
Up to 5 signals daily
76% success rate
Entry, take profit & stop loss
Amount to risk per trade
Risk reward ratiomonth
Lifetime
Subscription
Up to 5 signals daily
76% success rate
Entry, take profit & stop loss
Amount to risk per trade
Risk reward ratioSeparate Swing Trading Group
Up to 5 signals daily
76% success rate
Entry, take profit & stop loss
Amount to risk per trade
Risk reward ratiomonth
Eightcap - Regulated Platform With Tight Spreads
- Minimum deposit of just 250 USD to get lifetime access to all the VIP channels
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It is essential to know that a trading plan in the forex market refers to the organized method of effecting a trading system that is developed but centered on the market analysis, while also considering the risk management.
Even though a trading plan is well-structured and efficient, it won’t work unless it is executed. Forex traders that a well-organized trading plan is the once that earn lots of profits daily.
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Trading platforms
Regulated by
Support
Min.Deposit
Leverage max
Currency Pairs
Classification
Mobile App
Rating
Total cost
$ 0
Commission
3.5
Min.Deposit
$100
Spread min.
Variables pips
Leverage max
100
Currency Pairs
40
Trading platforms
Funding Methods
Regulated by
FCA
What you can trade
Forex
Indices
Actions
Cryptocurrencies
Raw Materials
Average spread
EUR/GBP
-
EUR/USD
-
EUR/JPY
0.3
EUR/CHF
0.2
GBP/USD
0.0
GBP/JPY
0.1
GBP/CHF
0.3
USD/JPY
0.0
USD/CHF
0.2
CHF/JPY
0.3
Additional Fee
Continuous rate
Variables
Conversión
Variables pips
Regulation
Yes
FCA
No
CYSEC
No
ASIC
No
CFTC
No
NFA
No
BAFIN
No
CMA
No
SCB
No
DFSA
No
CBFSAI
No
BVIFSC
No
FSCA
No
FSA
No
FFAJ
No
ADGM
No
FRSA
71% of retail investor accounts lose money when trading CFDs with this provider.
Rating
Total cost
$ 0
Commission
0
Min.Deposit
$100
Spread min.
- pips
Leverage max
400
Currency Pairs
50
Trading platforms
Funding Methods
Regulated by
CYSECASICCBFSAIBVIFSCFSCAFSAFFAJADGMFRSA
What you can trade
Forex
Indices
Actions
Cryptocurrencies
Raw Materials
Etfs
Average spread
EUR/GBP
1
EUR/USD
0.9
EUR/JPY
1
EUR/CHF
1
GBP/USD
1
GBP/JPY
1
GBP/CHF
1
USD/JPY
1
USD/CHF
1
CHF/JPY
1
Additional Fee
Continuous rate
-
Conversión
- pips
Regulation
No
FCA
Yes
CYSEC
Yes
ASIC
No
CFTC
No
NFA
No
BAFIN
No
CMA
No
SCB
No
DFSA
Yes
CBFSAI
Yes
BVIFSC
Yes
FSCA
Yes
FSA
Yes
FFAJ
Yes
ADGM
Yes
FRSA
71% of retail investor accounts lose money when trading CFDs with this provider.
Rating
Total cost
$ 0
Commission
6.00
Min.Deposit
$10
Spread min.
- pips
Leverage max
10
Currency Pairs
60
Trading platforms
Funding Methods
What you can trade
Forex
Indices
Cryptocurrencies
Average spread
EUR/GBP
1
EUR/USD
1
EUR/JPY
1
EUR/CHF
1
GBP/USD
1
GBP/JPY
1
GBP/CHF
1
USD/JPY
1
USD/CHF
1
CHF/JPY
1
Additional Fee
Continuous rate
-
Conversión
- pips
Regulation
No
FCA
No
CYSEC
No
ASIC
No
CFTC
No
NFA
No
BAFIN
No
CMA
No
SCB
No
DFSA
No
CBFSAI
No
BVIFSC
No
FSCA
No
FSA
No
FFAJ
No
ADGM
No
FRSA
Your capital is at risk.
Rating
Total cost
$ 0
Commission
0.1
Min.Deposit
$50
Spread min.
- pips
Leverage max
500
Currency Pairs
40
Trading platforms
Funding Methods
What you can trade
Forex
Indices
Actions
Raw Materials
Average spread
EUR/GBP
-
EUR/USD
-
EUR/JPY
-
EUR/CHF
-
GBP/USD
-
GBP/JPY
-
GBP/CHF
-
USD/JPY
-
USD/CHF
-
CHF/JPY
-
Additional Fee
Continuous rate
-
Conversión
- pips
Regulation
No
FCA
No
CYSEC
No
ASIC
No
CFTC
No
NFA
No
BAFIN
No
CMA
No
SCB
No
DFSA
No
CBFSAI
No
BVIFSC
No
FSCA
No
FSA
No
FFAJ
No
ADGM
No
FRSA
71% of retail investor accounts lose money when trading CFDs with this provider.
There may even get more losing trades than winning once, but still get lots of profits, due to the fact that they are orderly and follow their methods.
Why every trader needs a trading plan
Trading is more straightforward and easy when you have a plan. This is because you follow a defined rule and become disciplined in your choices and way of trading.
It is essential to know that the most successful traders out there trade to a plan, and they often have other plans working together to achieve one goal – to make profits.
A trading plan reduces stress, which improves your health. A trading plan will relieve you of the headache of trying to make trades to make profits.
Due to the fact that you already have a defined plan that works for you, then effecting this plan to earn daily profits will be easy for you.
Having a trading plan helps prevent irrational behavior even when the market is going in the wrong direction.
Because the same plan has worked for you when the market is down, you will still retain your discipline and make bad decisions that will result in further losses.
There are lots of benefits to having a trading plan. Hence, every trader should know that a trading plan is a work in progress.
How to develop a trading plan
Before coming up with a forex trading plan, it is essential to make research and findings. After then can you build a plan according to your own needs.
However, the type of tools, applications, type of chart, drawing tools, and other strategies that you have picked are the keys to building an effecting a trading plan.
After making out your plan, it is necessary to test it to see how effective it is, even after you have started using it. Checking your project regularly will help you gauge your success by know what works for you.
At this point, you can add and remove some basis that may not be in line with your plan.
Furthermore, you will need to ask yourself some vital questions that will help you know if you are on track with your plan. Some of these questions are,
- Why am I trading?
- What is my motivation?
- What are my strengths and weaknesses?
- Will the amount of money I have to trade help me achieve my goals?
AvaTrade - Established Broker With Commission-Free Trades
- Minimum deposit of just 250 USD to get lifetime access to all the VIP channels
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- Leverage facilities available
- Instantly deposit funds with a debit/credit card
Hence, with your trading plan, you will need to align some risk management tips to it, for you to be successful. Such management tips are (but not limited to),
- Investing only with your spare money
- Knowing your risk tolerance level
- Setting your risk ratio reward to a minimum of 1:3
- Setting your timing
- Regulating your risk per trade
- Considering currency correlations
