Rules of Engagement
How to Plan Your Trades and Trade Your Plans
In Part Three, you will learn how to plan your trades. Planning your trades in advance is the secret to success in forex. It will put you in and take you out of trades, but more importantly, it will keep you out of trades, and undoubtedly a lot of the trades you will miss would have been bad trades.
Trade plans allow you to focus your energy on analysis and focus your trading on implementing your analysis. Anyone can pull the trigger. That is the easy part.
Traders who desire to be successful in the long run will need to develop skills that are repeatable, skills they can use every day. Those skills are gathering intelligence and formulating a strategy.
In Part Three, you will learn:
• How to align price, market, and trend.
• How to find support and resistance.
• How to trade S&R role reversals.
• How to use lagging indicators to enter trades.
• How to use leading indicators to exit trades.
• How to get a second chance on your trades.
• How to manage news trading.
• How to use pivot points.
• How to use Fibonacci studies.
• How to manage money.
• How to manage trades.
• How to manage a loss.
• When to not pull the trigger.
• How to take control of your trading.
WHAT’S THE TIME?
Your fundamental bias is created from analysis of economic data and its impact on an economy’s interest rates. A trade plan will take that bias and combine it with technical analysis.
If the currency is ...