A forex trading plan is a set of guidelines and strategies that traders use to make decisions about their trading activities. It includes details on the currency pairs that will be traded, risk management methods, and an overarching trading strategy.
Why is a forex trading plan important for beginners?
A trading plan is important for beginners because it helps them set clear goals, develop a strategy, and establish trading rules. It also helps them track their progress and evaluate their performance, as well as avoid impulsive decisions and manage risk.
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