Sample Action Plan for the trader

From a practical point of view, to make the transaction in the foreign exchange market is simple. But you do need profit, and not just a process, right? What should the trader to receive the income from their activities? Let's look at the whole cycle stages of the transaction the trader.

Briefly, the action plan is as follows:
A. Monitoring the schedule chosen tool.
Two. Drawing up a trading plan.
Three. Entering the market, opening positions.
4. The output from the market, closing a position.
Five. Analysis of the acts committed and the result.

Now in more detail.

Monitoring schedule. You turn on your computer, download the trading terminal and start the analysis of the market. - Your task is to track the emergence of a favorable situation for entry into the market. For this purpose, you can use the graphical analysis, to study the behavior of various indicators to monitor economic news - depending on your trading system.

Drawing up a trading plan.

And then came the moment when all the conditions of your trading system and you are ready to make a deal. Before you do this, you make a trading plan, which states:
A. Date and time of the plan;
Two. The instrument on which plan to open a transaction and the nature of transactions (buying or selling);
Three. The reasons that think it is possible to open the transaction;
4. Levels of limit orders, and their rationale;
Five. Risk management for the current situation. Here you specify the size of the transaction, the balance in the free margin, applied tactics, etc.
6. The reasons for changing the trading plan. Here you specify the conditions under which your plan may be changed. For example: the market is not developing as you expected, breaks the trend line for the sake of reducing the losses close position without waiting for the stop-loss. Or a significant acceleration of the market will allow you to move the Take-profit to another level.

After writing the plan you have on hand will actually direct instruction, which will save you from having to analyze the market, with an open transaction when the analysis is not objective because of human nature.

Opening of the transaction. After writing a trading plan the opening of the transaction will not be for you as significant stress, as if you did it without a plan. You're just following his own instructions, open market transaction or a pending order with an indication of a stop order and take-profit. Began the most exciting stage of trading. You can watch the market, or do other things, the main thing - to retreat a single step of his plan. After you have considered the reasons why the plan could change?

Closing the position. This is the moment when, in accordance with your trading plan, the deal is closed. This can be closed by the stop or the achievement of a TP. Or, to take effect the changes you've provided and the position is closed manually. No matter how you did it, now is the last stage of trading.

The analysis was done. Deal is closed, emotional stress has passed. Now is the time of analysis was done. And it must be done regardless of whether profitable or unprofitable was a deal. All of you have taken into account in their trading plan? Maybe you have opened any new circumstances that must be considered in the future. Or maybe you do break your plan? Then why not? Brought to your success, or vice versa, you have recorded a loss? These and many other questions you will find answers for the sake of successful trading. In this you greatly help your trading plan that you can analyze not only immediately after the closing, but after a year or two, from the perspective of new knowledge.

Now you imagine what it consists of successful trading. Most of the time - trading, it is tedious work and not everyone can afford to sustain it. Just the diligent work you will be rewarded, otherwise you will have to pay the money. If you are not afraid of such difficulties, begin to act now. Write down on a sheet of paper, you still need to learn and make a plan of improvement. After all, you have to change yourself. Perhaps, reading books about success, you came across the idea of ​​separation of days to a successful day and not successful. The day on which you have done something to get closer to your goal, call it a success. If you have not done anything for his purpose, that such a day you are not successful, since the day your dream pushed further.