Your Trading Plan
If you are interested in trading for an income – whether it be to supplement or replace your income, it is important to have a “business plan” for your trading venture, just as any business that is looking to make a profit from their venture would.
This trading plan should cover your “Rules of Business” – specifically how you will apply your Trading Method to produce a Profit (the Consistent Application of a valid trading method should produce a Consistent Profit result)
Aspects should include Your Education as a Trader, Your “Business Hours” (the times of day and/or market events you will trade), your progress from “Paper Trading” through to “Demo Trading” through to Live Trading, the Analysis of Your Trades to Improve your application of your trading Method and possibly even your methods for clearing negative self talk, correcting destructive habits or other psychological barriers that you may face.
It may seem a daunting task to develop your own Trading Plan, but starting with a good Trading Plan Template, such as the one included in the Forex Mastery Program Seminar will make the activity easier.
The statistics are very clear – the overwhelming majority of traders who do not have and follow their Trading Plan, who do not analyse positive and negative trades to look for areas to improve, WASTE THEIR TIME AND MONEY, while they become increasingly frustrated, with most quitting without making consistently profitable trades.
Be one of the Successful Traders who Plan their Trade and Trade their Plan!
How to Get Started
Our Lifetime Lifestyle Income From Trading Program is a comprehensive Action-based Coaching program with our experienced Trading Coaches. In this program, your Coach will work with you for as you Create, Develop and Grow Your Profitable Lifestyle Income From Trading.
Combining unlimited access to a 2 Live Full Day Workshops, live online coaching resources – including a private Facebook Group and Skype and email coaching, as well as a monthly live coaching workshop, you will be supported as you Learn and Earn as a LIFT Investor Trader!
For more trading term general definitions, visit our A to Z of Forex Trading
To look at these concepts in action, please visit our sister site, Latest Forex Rates
What to do Next
If you have more questions or need further guidance, don’t hesitate to reach out to us at The Trading Coach International for personalized coaching and support.
If you would like to learn more about trading forex profitably and what steps you can take next to get on the right track to build your Lifestyle Income From Trading, you can book an no obligation, Free Strategy Call with our Lead Trading Coach by clicking on THIS LINK
The information, strategies, techniques and approaches discussed in this article are for general information purposes only. The Trading Coach International does not necessarily use, promote nor recommend any strategies discussed in this article. The information in this article may not be suitable for your personal financial circumstances and you should seek independent qualified financial advice before implementing any financial strategy. The Trading Coach International is not a financial advisor and does not have AFS registration.