Forex Trading has been something that took my attention since the day I started thinking of how to make money online. Not knowing that it will take me more than 2 years till I have not got successful in the Financial Industry.
I have seen and experienced the journey without fully following a trading plan, rules and journal, so I take my chance to try and apply that besides losing more than USD 2K since I started Trading.
Since this is not a History post or article let me get to the point. Note: All the content here is based on my thinking and research, best you read the Disclaimer.
The Steps I Think I Should Take:
- Forex Trading Requirements.
- Look for Capital.
- Create A Trading Plan.
- Create A Trading Journal.
I think that’s all I need right will learn new stuff as I continue this Journey.
Forex Trading Requirements:
- Internet Access.
- Trading Devices ( Smartphone and Laptop)
- Trading Account.
- Trading Platform (Metatrader 5 application).
- Time and Patience.
Well that’s what I have to say about this start it might differ or missed something (you can add in the comment section).
Capital – Trading Capital
$100.00 zwl = USD 4.00 Official Exchange Rate (not even easy to get)
= USD 1.60 Parallel Market Rate (available)
This might be insane small capital one can use to start a business, well looking at my pockets and access to funds that is what I have raised other funds paying for internet access cost $480 zwl – 20 GBs (2 months).
I have created my trading plan basing on my research the plan includes the following:
- Trading Goal.
- Trading Strategy (will be developed as I move with this Trading Journey).
- Risk Management.
Other content will be added as time goes on, so if you need my plan or settle down with me and help each other out to create your Plan well hit the comment section.
In this Journal I will include the following based on my research and thoughts:
- Date and Time
- Currency Pair Traded
- Trade Direction
- Type of Setup taken
- Timeframe used
- Actual Amount Risked
- Volume taken on the trade
The credits for the details on the Journal goes to Traders Support Network Courses and Blogs.
When I will upload the Journal HERE.
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