In our forex course comes a time when you’re asked to download a couple of files and to make your forex trading plan. This is lesson 35 of our free forex training course, towards the end of the boring part (meaning the part where you don’t learn any strategies, boo).
I say boring part, but obviously I’m (only half) joking. Your forex trading plan is one of the most important things you’ll need to succeed in forex. We didn’t put this lesson up there as a joke and we sure didn’t write that whole forex plan file as a joke either. Have you seen how long it is?!
It’s very important and I want to cover a few points about it with you in this short article.
|Did you know? You can download a trading plan template but also money management spreadsheets or strategy rules! Have a look!|
Importance of a forex trading plan
The lesson 35, aside from the fact that it contains the link that allows you to download the forex trading plan is also a very long sort of article telling you why it’s important to fill out and build your plan.
I personally think that it’s one of the most important lessons and piece of writing that you’ll read on this website. The rest is obviously very important, the strategies are awesome and the other lessons are very useful. But the trading plan lesson is one of these things that set us apart.
Many forex training companies, websites or mentors will teach you a strategy. They will give you some rules, sometimes even good rules, and then let you work on it yourself. You’ll basically learn the strategy and they’ll say “alright, have fun bye” and leave you alone.
In the forex trading plan lesson, we put you in charge. We are telling you how it is in the real forex trading world. We, professional traders, live by our trading plan every day. I know mine by heart and I update it from time to time when my focus has shifted or I believe that I’ve reached a milestone that I set for myself a while ago.
This is exactly how you have to use your trading plan. We don’t want you to feel left alone and just mindlessly applying our strategies. We want you to have a strong idea of where you are now, what you are working towards and how you’re going to get there. That’s what real traders do and that’s how you have to do it. Don’t think that you’re better than this – you’re not.
Write your forex trading plan now
I’m sure that out of the thousands of people who will read this article in the next couple of days, 94% of them (why 94? why not?) have gone through our forex trading course. I’m also sure that all of these 94% have gone through at least one full forex strategy lesson.
I am however also sure that less than 15% of the people that went through our course and/or our strategies have actually taken the time to create their forex trading plan. Shame on you!
It’s now time to redeem yourself. Take half an hour and download the file. Lock yourself up in your office, take a piece of paper and write down your plan. Do it right now, or today at least.
You’ll thank me later.