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Trading plan

It varies from person to person. Every trader has his own trading plan. For me I mostly trade in Nwe York tme session. I find this session more liquid than other sessions. At this time I open my chats and start to see it with my checklists. If I find any set up I open the trade.
 
Well my trading plan is so simple; I just want to make sure the quality of my trading entry points; otherwise no way to jump in.
 
besides learning beginners level have to practice trading on regular basis ,
otherwise all learning attitude from baby pips can be useless.
 
as a newcomer i was successful with BB in demo but when kicked off a live account ,
this approach not worked as like before , it was my experience about BB.
 
Managing 2% risk until until closing any order its not an easy task , pro trader can manage their risk ratio accurately because of having long term experience. but as a beginner there is no chance to keep 2% risk for all time , but if we practice more and more above all in demo account there is a possibility to become knowledgeable about risk management.
 
The beginner should use demo account minimum for three months, sometimes many brokers organize demo contest with real money prizing. Newcomers can join here. It could be great to acquire real trading exeprince.
 
before some years ago , demo was the first choice for newcomer, but time has changed right now , beginners kick off live trading instead of demo , but result not actually.
 
only randomly trading not means casino , to bring profit from casino is also a great skill but we don't support this skill , because its not legal , trading and casino there is no different if we greedy and emotional. so, we have to controlled our bad trading habits by discipline.
 
For avoiding risk I always use 1:100 leverage in spite of having up to leverage 1:2000 , actually leverage is an important financial tool which always contains risk , so it is better if we avoid using high leverage in real account.
 
without passing a long time it is not possible at all to lead a healthy trading life with certainly, because the success in this market is related with long term process. But practically mostly traders in particularly the newcomers try to make success very rapidly and fall a great loss when trading practically.
 
make sure regular basis profit is very effective even though its smaller, 5% sounds minor but when it comes regular basis , it can make huge amount.
 
The newcomers cannot avoid losses by their greediness and emotions, it’s true. But the regular traders cannot come out their losses because of having most powerful risk management and MM. they always fours on just acquiring good trading knowledge . of course we have to do it. But besides it must be focused on risk managing approach if we want to avoid losses.
 
beginners not willing to serious in demo , no emotions and real money in here for that , so they can participate in demo trading contest. its minimum better than as usual trading
 
still the rnewcomers should trade all kind of pair in demo or micro account to see the real performance , this approach is very supportive to increase knowledge very rapidly. e is no answer , sounds not good and active.
 
mostly traders kick off trading just after finishing demo account very shortly ,but in practical this is not enough to start a live trading , because there is far difference between two demo and live.
 
as a newcomer i was successful with BB in demo but when kicked off a live account ,
this approach not worked as like before , it was my experience about BB.
 
According to me, the trading can be easier if you have proper trading plan , real money managing approach , knowing the ability how to manage risk , real time of using Stop Loss , proper trading analysis and much more. Otherwise not.
 
My trading plan is very simple; I use only 8 major FX pairs & when I have entry point according to my strategy’s call only then I open a new position; otherwise not!
 
successful from Forex trading is a big deal , just want to say as a newcomer you should focus on this forum including practicing account. happy learning.
 
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