TIPS & TRICKS

Develop a Trading Plan to find your Trading Style

Apr 15, 2022

My plan is understanding fundamentals and master, with the assistance of indicators, currency trading. Some trading plans examine the markets past and current trends, up to date with news and use tools to forecast entry and exit points.


Some Trading Styles are;


Trade Time Frame: How long you hold your position? Are you looking for short term trade opportunities (day trading), trying to capture more significant shifts in currency prices over days or weeks, or something inbetween?


Currency Pair Selection: Are you interested in trading in all different currency pairs, or rather specialize in only one or two?


Trade Rationale: Are you fundamentally or technically inclined? Are you considering creating a systematic trading model? What strategy will you follow? Are you a trend follower or a breakout trader?


Risk Appetite: How much are you willing to risk and what are your return expectations?


Advice: Be Patient and wait for the market to show its hand, it always does, one way or another!