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The Importance of a Forex Trading Plan

Forming a Trade Plan

Trading-PlanMost of us would have used vacations and planned outings at least one time in our lifetime. The thing that is essential to having a good memorable vacation is the master plan made before the start of the journey. The majority of us are also aware that planning is vital in most aspects of life; may it be personal or professional. Then why would Foreign exchange trading be any different? A successful forex investor would tell you that one of the reasons for his/her success is a forex trading plan. A good trading plan these days can make a difference between success and failure. Hence the significance of having a forex trading plan is at the top.


Setting Your Goals

A good forex trading plan will help you identify your goals. As a forex trader, it is crucial to understand the extent you are going to invest, and have an idea about what the output should be. One more point is when to invest and where to commit. They are the basic questions that get answered when setting a goal.

Now you have set your goals, next comes the preparation for the journey. You will have to analyze the markets, understand the analysis given, and keep track of the forex news and the forecasts made. This is the second step toward being a successful trader. As in any plan, preparation is vital. This is when the hard work and minute attention to detail come into play. The forex trading plan is as successful as the preparations and choices made before the real trading. The preparatory stage will give you the direction to consider and when to take the position.

New Forex Regulation in 2018

Fx Regulation

Forex Regulation -What does it mean for brokers, IBs, and strategy providers?


As it is legally defined, regulation is a rule of order having the force of law, prescribed by a superior or competent authority, relating to the actions of those under the authority's control. Find out more about Forex regulation and why choosing a regulated brokerage service is important and can have a significant impact on your trades.


Regulation in the Forex Market

The Foreign Exchange Market, commonly known as FX, or simply Forex – is the biggest and most liquid market in the entire world – with a daily trading volume of around US $5.3 billion. The market is active 24/7, but there is no centralized regulatory body to conduct and supervise the activity of all online forex brokers at all times. Ever since the internet was introduced, hundreds of forex brokerage websites started to appear daily, which made this industry very competitive, but extremely risky, too.

Regulation in the Forex Market is the one that ensures fair and ethical business behavior; and requires brokers to operate in strict compliance with its rules and standards. It is safe to say that being regulated is now a criterion for traders when choosing an online forex brokerage provider. Before you start forex trading and open an account with an online forex broker - the first thing you need to do is check if it is regulated!