Most aspiring traders tend to approach trading like a Casino. Instead of buying lottery tickets, they trade Forex. And usually, they lose.
If you flip the reasoning on it’s head, you actually have a shot at this game. Treat it like a business endeavour, not like a game of chance. In order to help your “start-up” succeed, we’ve put together a 16 Page Forex Trading System Template.
If nothing else, hopefully the Template will stimulate some thought about the requirments of consistency and longevity in trading. Having everything very clear, and down on paper, is a great step towards actually becoming a consistent trader.
The Advanced Forex Course for Smart Traders covers all parts in detail, but below we’ve also added some blog posts on the various subjects, in order to get you started.
- On starting on the right foot: The Right Way to Embrace The Uncertain Path to Consistent Trading
- Be bold and corageous: How to Push Through Fear
- On avoiding the dark side of the Force: Why The Process Is More Important Than The Money
- Objectives in Trading: One Size Does Not Fit All
- How to Define Objectives for your Trades
- Some help on finding “what to trade”: Using Relative Strength in Forex Trading
- Some help on how to trade trends: Long-term Trading in Brief: Low-risk Strategies for Bull and Bear Market Types
- Some help on how to trade breakouts: Using the Relative Width Indicator to Identify Low-Risk Entry Points
- Some help on how to pick reversals: Being Selective with Reversals
System Position Sizing
- Volatility-Based Position Sizing
- How to Tailor Your Position Size to Fit Your Objectives
- What we learned going through our Maximum Drawdown
- Challenges of Living the Trading Lifestyle
- Don’t Get Emotionally Involved With Your Trade
Get a Second Opinion
The 16 Page Forex Trading System Template is a great way to set a solid foundation for your future trading endeavours. After all, if you fail to plan then you’re actually planning to fail! The Template, along with the links above, will alert you to some components you might not have thought about in-depth; or it might help you find some weaknesses in your model.
But also, know that you’re not alone. If you have any doubts about the efficacy of your trading model, send it back to us at email@example.com when you’ve completed it, along with whatever doubt or sticking point you have.
We want to help you succeed because we’ve also had to push through those seasons of doubt, when it seems we would never make it. The market tests both our personal and our professional maturity. When compiling this template, be mindful about any resistance or conflicting emotions that arise. Write them down. Be mindful about where those emotions are coming from. Then send it to us. We’ve probably been in the same situation or have experienced the same issues.
About the Author
Justin Paolini is a Forex trader and co-owner at www.fxrenew.com, a provider of Forex signals from ex-bank and hedge fund traders (get a free trial), or get FREE access to the Advanced Forex Course for Smart Traders. If you like his writing you can subscribe to the newsletter for free.
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