Price Action Forex Trading Plan

Price action Forex strategies are only powerful if you have a detailed trading plan to follow.

Sometimes price action traders think they don’t need a written trade plan because the strategies they are using are so simple and effective they can remember everything. -- Price Action Forex Trading Plan--

But in the heat of battle, when you have real money at risk in the live markets, you are going to be thankful for having a trading plan for your price action strategies.

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The first thing you need to understand is “why” you need to write down a plan. The trading plan for your price action systems is the glue that holds your trading together.

When you don’t have a plan, it is easy to get distracted and let your emotions rule your trading.

Throwing the rules away and trading on what you “think” is going to happen is the fastest way to lose money.

So, even though price action trading strategies produce excellent results, you need to have a plan you can follow before and after the trade is placed.-- Price Action Forex Trading Plan--

Trading Forex is not like other jobs you may have had in the past. Since most of you will be trading from home, you are without a boss.

Better said, you are your won boss.

Since there is not a higher power you need to be accountable for, it is easy to throw the rules away and base your decisions on whims or emotions.

So, think of a trading plan as a way to hold yourself accountable every time you engage in trading in the live markets. -- Price Action Forex Trading Plan--

Coming up with a successful trade plan is more than writing down the rules of the price action trades you are going to be looking for.

You trade plan should have much more than just trading rules. The trade rules are the guidelines for the particular setups you are looking for.

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But the trade plan is the WAY you are going to engage in live trading using those rules.

Your trade plan must be personal, and take into account your lifestyle, goals and trading personality.

Trading rules you can get from someone else, but how you are going to trade those rules must come from you.

Next, go to Learn Forex Live to find out some of the best price action Forex strategies.

Then go to Forex Insider Pips to access free video training and unique trading tools designed to help you trade your price action trading plan like a true pro.