Forex Do you Follow a Trading Plan?

[moonchild]

As a forex trader to do you follow a trading plan at all? It is always advised, a trading plan is the sum of rules and regulations you adhere to as a trader, it contains the most important thing in your trading, which is your strategy, I'll implore every trader to read the book 'The Playbook' by Mike Bellafiore, it contains a comprehensive details on how to create a play book, which is essentially a trading plan.

With a trading plan you can escape many trading mistakes, a good trading plan contains all the rules that makes trading easy and enjoyable for the trader without compromising your capital.

 

[Nite]

I completely agree with the importance of having a trading plan as a forex trader. Without a solid plan in place, it is easy to let emotions take over and make impulsive decisions that can lead to losses. Following a trading plan helps to keep you disciplined and focused on your strategy, ultimately increasing your chances of success in the forex market. I will definitely look into reading 'The Playbook' by Mike Bellafiore to further enhance my own trading plan.