Those forex traders with a trading plan and the requisite discipline to abide by it have an overall higher chance of survival in the market. In the words of Jason A. Jankovsky, “In my experience, I have to say that there was very little critical difference between the net winning traders and the net losing traders in most areas. All of them had good understanding of the basic market fundamentals, used a solid technical analysis or research of some kind, and exercised a lot of personal discipline. The one thing that stood out, the one thing that separated the net winner from the net loser, all things being equal, was that the net winner had a trading plan in addition to his other skills. The net winner knew he was up against not just the market and his competitors, but he was up against himself, too. To guard against the possibility that he (the trader) could blow himself out of the water at any time if he wasn’t careful, that trader had a plan.”
In this section of our site, we have included a few samples of forex trading plans with the view that you would find them useful and use parts of them in creating your own trading plan.
Attention: do not just blindly follow any one of our samples. Make sure your trading plan suits your personality and knowledge level.