Trading Without A Trading Plan

It does not matter if the individual trades forex or another investment selection, the initial task in being successful requires you to establish and implement a trading plan. "Failing to plan in advance is a sure way to loose" is my motto that applies for all types of trading and investment. An experienced and profitable forex trader operates within a written plan or strategy that consists of risk management guidelines (set of rules) and specifies the anticipated and or forecasted return on investment (ROI). Following a written trading plan or set of rules will help traders avoid numerous typical trading mistakes and pit-falls. For those who don't include a plan in their every trade, you're selling your own self short in what you possibly could attain in the foreign exchange markets.

Lucjan Roczniak (Forex Trader FT)
www.lrforexfreedom.com