If you are planning to trade Forex for more than anything but a hobby, you should. As a trader, you need to build a winning system that fits you and your personality as a trader, and a written trading plan is a crucial part of that.
Your trading plan will give you a framework of rules for you to use as you trade what’s in-front of you. It is perhaps the “rules-based discretionary trader’s” most important tool.
(The opposite of a rules based discretionary trader is a “non-rules based discretionary trader”, or a trader that operates on a whim.)
We have developed a 16 page interactive Forex trading system template for you to use as part of the Advanced Forex Course for Smart Traders (get free access). All you need to do it join the Forex course and it will be emailed to you, no strings attached.
(For current members, I have added the template here for you to download.)
In the following graphic you can see how the different elements of your trading plan come together to guide you in what, when and how much to trade.
Throughout the Forex course, you will get lessons covering these elements, along with course work each week that will help you to fill out the trading plan so you can have a winning trading system that fits you.
About the Author
Sam Eder is a currency trader and author of the Definitive Guide to Developing a Winning Forex Trading System and the Advanced Forex Course for Smart Traders. He is a key team member at premium FX services provider www.fxww.com and part owner of Forex Signal Provider www.fxrenew.com (You can get a free trial). If you like Sam’s writing you can subscribe to his newsletter for free: https://fxrenew.com/newsletter-sign-up.
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