Have a trading plan

If you fail to plan, you plan to fail. You’ve heard that. It sounds trite but it’s true, you know. You have to set up a plan in writing which will guide you in your trading. A good forex trading plan should be able to answer the questions about what your goal for your forex account is (double it in a year?), what is the maximum distance between your entry and your stop (53 pips?), what percentage of your equity you can risk in all open positions (2.79%?), what emotional pitfalls your regularly get into and how to go about handling them (if I lose a trade I will immediately try to make up for it no matter what?), and so on and so forth.