How do I develop a Forex trading plan and how do I evaluate my performance as a trader?

[jelousgal]

Developing a Forex trading plan and evaluating your performance as a trader are essential activities that can help you achieve success in the Forex market How can one achieve them?

 

[Enivid]

Reading, watching, learning, practicing, backtesting, and forward-testing - these all are necessary steps to develop your trading plan. You will be able to track your performance with a trading journal you keep and account reports from your platform.

 

[AlexOZ]

Do some google searching on that topic. But it is essential and needs to be tested before risking real money. Also once in place stick to it and expect losses (even consecutive) without panicking and fiddling with it. I'm assuming you will have a very strict risk management setting for all your trades (with something like 1% of your account balance risked on a trade). Best of luck

 

[CallahanSinclair]

For making a trading plan you must define your goal, choose a trading style, set a risk for your trades, and also by keeping a trading journal and review it regularly analyze your trades.

 

[NatureGirl]

you need to set clear goals choose Ur strategy use technical and fundamental analyses, risk management and entry and exit criteria. its way more than a single paragraph

 

[jelousgal]

Thanks you all for the perfect replies, I was not expecting so many people that are willing to help, god bless you all.