The quest for the “Holy Grail” perfect trading system among forex traders around the world has turned forex trading into a money drainer rather than money maker for a great many people. Many still run from seminar to seminar today in search of the “HOLY GRAIL” system that could pull in over 100 pips daily consistently. Unknown to this category of traders, such quest has remained an illusion since the history of mankind.
The main purpose of writing on this topic is to bring to the knowledge of millions of Nigerians, one of the most important ingredients every forex trader must have to survive in this very market. After reading this piece, your endless search for the best system in the forex trading world should come to an end. I will be giving you clues that will sustain you for the rest of your trading career without you losing your shirt or house.
As you read I am sure you are very eager to learn and master this trading system that has been adjudged by every seasoned professional trader as the very best in the world. Don’t be in a hurry, we will land there shortly and safely too.

A Good Trading Plan
You must have heard it said several times over: ‘Plan your trades and trade your plan.’ This, unfortunately, is all most traders have known and nothing more. It’s simply about using a good trading plan and not many know how to even design the components of a trading plan and subsequently write on the details.

What is a Trading Plan?
A trading plan is a trader’s guide or roadmap to the successful accomplishment of his trading dreams. Without it you are lost in the market.

Why You Need a Trading Plan
Just two reasons for having a good trading plan will do here: First, it keeps you in the right direction and second, trading is business and all successful businesses always have plans.

Components of a Good Trading Plan
There are basically six components of a decent trading plan. I will give you the checklist now. But note also that planning is a plan. The components of a decent trading plan are as follows:
• Your trading goal
• Your Mindset
• Your Weaknesses
• Your Trading Routine
• Your Trading System
• Your trading Journal

Each of the above components is very vital to your trading success. Develop them and half the job is done, develop the discipline to follow your plan and your success in trading is a guaranteed.