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Foreign exchange trading system of trading plan 1 - trading plan is what

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S forexrebatesef="">forexcashrebatece you have now gone through nearly half of the journey of the university, the following piece of advice you must keep in mind to do your own traders do not blindly believe in the Forex rebate for Exness advice of others because some people trade very well with their own methods, but th cashback forex does not mean that these methods cashbackforexexness equally applicable to you we have a different view of the market, we have different thinking process The most important two trading principles are the risk tolerance and market experience you need to have a personal trading ForexrebateforExness and update your trading plan based on what you learn in the market With solid principles, your trading will be like this develop a trading plan and stick to it, which are the two most important trading principles but trading principles alone are not enough, even if there are solid principles it is not enough it must be rock solid principles repeat We dont want to be piglets. We want to be successful traders. Having rock-solid trading principles is the most important characteristic of a successful trader. It covers your trading personality, expectations, risk management criteria and trading system If you follow a trading plan, it will help you reduce the number of mistakes you make in trading and minimize your losses After all, if you dont have a plan, it means you are prepared to accept failure Trading plans eliminate bad decisions made on impulse When your money is going down the drain, your emotions consume your mind and cause You make irrational decisions that you wouldnt want to happen The best way to prevent this from happening is to reduce (notice were not talking about eliminate) impulsive thinking by having a plan that can handle all potential market movements With the right plan in place, with every step planned out, then in times of impulse you dont have to make any more decisions You just have to stick to your plan Before we continue We want to talk about the difference between a trading plan and a trading system a trading system is how you are going to enter and leave a trade a trading system is part of a trading plan but is only one of many important parts such as analysis, execution, risk management, etc. Because market conditions are constantly changing, a good trader usually has to create multiple trading systems in his plan trading systems are described in detail in subsequent courses However, we think it is important to point out the differences between the two to avoid confusion
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