Analyst
You have probably already heard that it is important for
traders to set up a Trading Plan. This should be a must, in my opinion, for
novice traders but also for those who have experience (but they know this by
now).
One of the most important attributes of a Trading Plan is
that it helps the trader to be disciplined. Discipline is a quality that cannot
be taught that easily, but it can be learned in time. Another attribute would
be that it keeps details that a human being at some point would forget. It also
helps the trader to avoid the mistakes that he already did in the past, but
also those that comes from negative emotions like greed and fear.
Trading Strategy
For a novice in this domain to get to have a strategy,
he/she would first have to learn about the markets, to get to know the
opportunities and to get to know the risks. When a trader found a working
strategy or strategies he/she would then have to write every detail of the
strategy in the Trading Plan, so that nothing to be forgot. This way the trader
will always keep an eye on the trading strategy and will lower his probability
to make unnecessarily and unforced mistakes.
Money Management
At least as important as a good strategy is a good Money Management.
If you fully understand your trading strategy you can, then, adjust the money
management so that you will get even more money from the market.
A good money management, adapted to each situation is one of
the best weapons that traders have in their arsenal. You will find different
types of Money Management in the trading books, but you cannot take them and
apply without any changes. As well as for the trading system, each trader
should consider adjusting their Money Management to their own personality.
Trading Schedule
It is important for a trader to set up a trading schedule.
Taking into consideration the strategy that he/she has, the time that has at
disposal for this activity. It is important to how much time to invest in
reading the news, analyze the market, review your instruments and apply the
strategy. If you do not allocate properly your time you might end up doing
mistakes.
Trading Journal
Each Trading Plan should include also a Trading Journal.
Writing the motives of your entries, the emotions that appeared during the
trader, but also other details that could help in the future is very important
in each trader’s evolution. With the help of the Trading Journal the trader can
fine tune his strategy or adjust the money management and the emotion
management to improve the results.
These are the main points to be discussed that can be
included in the Trading Plan. Even though everybody knows about them, but there
are few who use the full power of this weapon.
When I joined the Rally family, I had zero knowledge about forex. I attended their seminars and lectures and it was a thorough and quality experience. Talking about my success in forex , it’s a steady process , I’ve enjoyed lots of profits and a few losses. I’m grateful for the rally trade foundation I have, I look to grow from under the wings of Rally.
Kobi
I was told I could make money in my comfort zone, then I thought; “this could actually happen in my dreams”. But guess what, I made money and I’m still making money in my comfort zone with RALLY TRADE. To my account manager OLUWASEUN: thank you for keeping to your words and for being nice at the same time, thank you for having my back, you’re the best.To RALLYTRADE: thank you for this opportunity and for letting me know I could do more and better with myself..
Ebere Uzodinma
I am so much impressed not by anybody's action or motivation to pronounce my encounter with rally trade company. I would love to say this company has done so much in my life; personally. I listen to a radio station programme about a seminar/training on how to trade forex, I planned to attend though I don't believe it will work for me. After the training I got a call from one of Rally trade staff, in person of Tamuno who done so much to convince me to go in for the trade. This young girl have been so impacting since I stated the trade and she has never for once ignore my request for support and advice; I so much appreciate you...
Oluwatuyi Timileyin Samuel
THANK YOU, THANK YOU, THANK YOU Rally trade team for the excellent work you are doing. I recommend rally trade for anyone who want to profitably trade Forex on a consistent basis.
Oluwaseun Kayode
I have been with rally trade broker for one year now, they are reliable broker and they have excellent performance in term of training, customer service and prompt payment of profit withdrawal. Morealso, i am also beneficiary of one of their partner program (introducing broker) which I have been receiving payment for monthly commission on it. I recommend Rally trade to d prospective individual and company that intend to trade in forex . Thanks to Rally Trade
Adefuwa Ayodele