In creating a trading plan, make sure it answers four questions: What? Why? When? How?

Simple. Failing to plan is planning to fail. Remember, 90% of new traders don’t survive their first year of trading.

Contrary to popular belief, the end doesn’t justify the means. Let us explain why profiting despite deviating from your trading plan is still a loss.

Yeah, it may sound like a question on a Facebook quiz, but knowing yourself is critical in finding the right system.

Good goals should be specific and realistic. Why?

How much money can you trade with? Can you afford to lose all of it? You don’t want to risk what you can’t afford to lose!

Your time availability will determine your trading style. How much time per day can you dedicate to trading?

Figuring out what kind of returns you expect to make plays a role in determining what type of trading strategy you should implement.

Your pre-market routine is critical to your success as a trader. Think of it as a warm up before you start going after those pips!

What software, hardware, and other tools will you use for trading? Don’t forget to think of your backups as well.

Don’t plan to fail. Here are critical questions that you should have an answer to as part of your trading plan.

Your trading plan should be tailor-fit to your goals, risk tolerance, and lifestyle. Stick to it at all times!

No matter how good your trading plan is, it won’t work if you don’t follow it. Check out the benefits of having a trading plan.

No two traders are alike. Our unique personalities will lead us to trade differently from one another.

Scalping requires laser-sharp focus, the ability to thrive in fast environments, and high tolerance for stress. Do you have what it takes?

Do you think day trading is for you? Check out the things to consider before day trading.

If you like holding on to trades for more than a few days, swing trading could be for you.

Position trading requires patience to hold on to trades for months or even years. Is it for you?

Make sure that your trading style matches your unique personality. Here are the characteristics of each type of trader.

Mechanical systems generate signals under a certain set of predetermined conditions. The first step is to figure out the goals of your system.

Need help creating a mechanical system? Here are six easy steps for you to follow.

Here’s a simple example of how you can build your mechanical system. It’s as easy as pie!

What time frame should you trade your system on? The smaller the timeframe, the more difficult it is to develop a successful system. In other words, developing a system to trade on a 5-minute chart is more difficult than developing a system that trades on a daily chart. There is a lot more noise on …

Check out our simple mechanical trading system in action. Always remember to stick to your rules!

After setting the goals for your system, build it in six simple steps. Oh, and stick to the rules!

There has to be a way for you to track, measure, and analyze your performance. A trade journal will do the trick!

A well-kept detailed trading journal is just as good as having a trading coach to mentor you. Here’s why…

Your trading performance is determined by how well you analyze the markets so make sure you have all these elements in your trade journal.

Your potential trading area is where you will have a high probability of scoring profits. How exactly can you reach this?

Once price is in the potential trading area, you need to figure out when you will pull the trigger.

How much are you willing to risk per trade? Proper position sizing is crucial in determining whether you’ll live to trade another day.

Figure out what you plan to do for every possible outcome even before you enter the trade. You don’t want to get caught without a game plan.

Here are some questions you can ask yourself as you review how your recent trade went.

Make sure you look at these “vital statistics” to find out how you can improve your overall trading performance.

Find out what works and keep doing it. Find out what doesn’t work and stop doing it.

It’s tough to keep a trade journal but your hard work will eventually pay off. In fact, it’s equivalent to an athlete’s practice!

It takes a lot of discipline to stick to your trading plan and a trade journal can help you do just that! Here’s a reminder of why trade journals work.

Never heard of MetaTrader4? Here’s the 411 on the popular trading platform!

Don’t be intimidated by all the tabs, windows, and buttons! After awhile, you’ll get the hang of it and it’ll be like riding a bike!

The advantage of using an EA is that if you already have a system in place, you can create an EA to replicate the actions required once your system gives you a signal.

MT4 is highly customizable. You can run all sorts of things on it, install your very own indicators, and tweak the settings almost any way you want!