Successful traders do several things that amateurs often forget. They plan a trading strategy, they follow the markets, and they track, and analyze each of their trades. The first step is building a strategic trading plan. This is often overlooked by novice traders. A trading plan does not only incorporate your strategies and how you will decide to make a trade, it will incorporate risk management as well as defined entry and exit plans.

You may have heard the adage, "if you fail to plan, you plan to fail." This is particularly true in online trading as well as investing. Successful traders start with a sound plan and they stick to it at all times. This will help take the emotion out of your trading.

In this class, I will help guide you along your way to build your own plan, including

Choose the assets that are right for you

• Trading goals

• Your trading strategy

• Deciding how long you will stay in a position

• Set your targets

• Set your risk tolerance

• How to set up your trading log

• How to evaluate your performance

Be aware trading carries risk and not all strategies or rules work the same every time or have the same results for each trader. You should always understand your risks

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when spread betting or trading CFDs with ETX. You should consider whether you understand how spread bets or CFDs work and whether you can afford to take the high risk of losing your money.