"Plan your work and work your plan." I remember seeing this phrase and remembering how vital it is, especially in the forex market. It can be tempting to jump out of your game plan once in a while. If you get in a habit of trading by the cuff you will most likely lose ground on your trading path. Steady focus is the best plan in the long run.
Planning is crucial to the success of any endeavor we undertake. Whether it be in our marriage, in our career, a family vacation, or even for the next day, making a plan will increase our opportunity for success dramatically.
Have a plan for study, a plan for a time to trade, a plan for how to trade, a plan that doesn't allow giving up, a plan of what you will be like when you are successful, and a plan for your whole trading career.
I've heard forex traders say, "I have $300 left in my account-I am going to put a trade on a currency pair and go for broke. It might not be easy, but I might be able to make it work." Trust me, you will need a plan to make it work-not a stroke of luck.