It’s easy to jump in to things and learn as you go, learn from your mistakes, think you know what you are doing long before you actually do, but when it comes to Forex you don’t want to lose your risk capitol during the learning process. Feel free to dive in and make mistakes on a demo account, learn the ins and outs, just don’t jump the gun on going live. It’s actually a very common mistake and the reason for the ’95% fail’ statistic that you see everywhere. Imagine really starting to figure it out and not having any money to play with! This is why a solid trading plan is a must. Swallow your ego because it doesn’t matter how smart you are, you will not succeed without plenty of preparation work. Below is an example of all the things you should have considered in the development of your trading plan; I will be defining everything in this article for example purposes only.