Ray Arias – Creating A Trading Plan
Archive : Ray Arias – Creating A Trading Plan
As a trader you are running a business. If you haven’t already, you’ll find that your biggest enemy comes from within. Most traders learned the necessary tools to understand price patterns, strategies and trade setups, but often are not able to make money even though they appear to be right in their analysis most of the time.
This is due to a whole series of psychological issues that traders encounter. Psychology in trading cannot be underestimated. However, realize that all traders’ psychology starts out flawed because of human nature. It can be corrected and flourish with a trading plan. A well-developed trading plan serves as both your trading guide and a way to evaluate your progress. Checking on your consistency in following your plan once created is the answer to success. After this online session you will understand why traders fail, how important it is to have a plan and exactly how to write one. If you fail to plan, you plan to fail.
What is forex trading?
Forex, or foreign exchange, can be explained as a network of buyers and sellers, who transfer currency between each other at an agreed price. It is the means by which individuals, companies and central banks convert one currency into another – if you have ever travelled abroad, then it is likely you have made a forex transaction.
While a lot of foreign exchange is done for practical purposes, the vast majority of currency conversion is undertaken with the aim of earning a profit. The amount of currency converted every day can make price movements of some currencies extremely volatile. It is this volatility that can make forex so attractive to traders: bringing about a greater chance of high profits, while also increasing the risk.
Ray Arias – Creating A Trading Plan
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