Planning for Profitability - Forex Trading

It's the start of another year! 2016 was a great year for me and I am excited to see what this year will bring.

Each new year, I set a number of goals (or new year's resolutions). In the past, these goals have helped me to become a better trader, father, husband, and person in general. This year is no different. I already have my trading and non-trading goals written down and my plan of action of how I am going to achieve those goals.

For some of you, your new year's resolution may be to finally "crack" the Forex market, become a profitable trader or something similar. To help you on your journey, I have written this blog post and uploaded a short interview-style trading video that offers my advice on how to become profitable and how to achieve trading goals and make trading visions become a reality!

Before I was a Forex trader, I was an accountant (one of those really fun guy's that everyone finds interesting). During my career as an accountant I saw a lot of businesses fail and a lot of businesses succeed. Generally, the key difference between those that were still trading after 18 months and those that weren't was that those that were successful had business goals and a clear plan (a business plan) on how they were going to achieve those goals. The expression 'if you don't plan, you plan to fail' comes to mind. It is a business/life/trading principle that I live by. It you are struggling to make money trading Forex or other financial markets, perhaps my suggestions below will help...

#1 - Have a vision

Having a clear vision for your future and where you want to be short-term and long-term is vital in the trading industry. Why? Because vision gives you motivation and determination. Without these, you will give-up after the first few days of being beaten by the market. I have had trading days, weeks and even months that have resulted in losses. I have also missed exceptional opportunities and made numerous mistakes. Trading is a very exciting and rewarding career but it can also bring discouragement from hell. It is emotionally challenging and extremely difficult to master. If you don't have the determination to get-up after every slap in the face then you will not succeed. Vision can fuel you with determination.

What is your vision? Is it a lifestyle? Is it earning a specific amount each year? Do you have a trading vision?

Even though many Forex traders have vision, many still don't make it as profitable traders. Vision is just 1 of my 3 suggested steps. Vision is just the beginning!

#2 - Set Appropriate Goals

Once you have a trading vision, you need to set trading goals that will help you make your vision a reality. Goals should be specific and be written down. If your vision is to become a full-time trader, then appropriate goals may be 'to earn x amount per year trading Forex' or 'to make a minimal x amount return every month'.

Do you have trading goals for this year?

#3 - Create a Plan to achieve your Goals

This is the important step. How are you going to achieve your goals? This step is often the most neglected step as it requires thought, time and often money. Planning and pursuing goals is how goals are achieved. Below are some ideas that may help you create worthwhile plans that will help you achieve your trading goals...

Learn from those who are already successful

To learn anything effectively, you need to learn from someone who already knows how. If you wish to become a successful trader, learn from someone who is already successful in trading. This is not a Samuel Morton sales-pitch. I am only 1 of many successful traders and you don't necessarily have to purchase anything to learn from someone. Find a successful trader and learn from them. This can be done by reading their blog posts, watching their YouTube videos, purchasing publications, taking their trading courses, being taught by them and by other means.

If you already follow and actively learn from a successful trader, then learn from more successful traders or consider purchasing their services.

Create a Trading Plan

Many traders have a goal to become profitable in their trading but don't actually have a trading strategy or detailed trading plan. I have met so many traders that fall into this category. If you don't have a trading plan then get one - you won't become successful without one!

Follow your Trading Plan

Some traders have a trading plan but don't stick to it. This is usually due to the emotional and psychological aspect of trading, caused by a lack of confidence. If you struggle with this, try the following...

- Listen to my Forex Trader's Mind-set eBook (free on YouTube)

- Watch my free Beating Trading Discouragement webinar

- Gain more confidence in the strategy by trading it on demo and seeing the results

- Gain more confidence in the strategy by back-testing further and collecting more positive data


Make this year the year of Forex profitability. Get yourself organised and commit to a plan of action that will lead you to your vision of successful trading.

I wish you all the best in your trading

Forex Trading Signals

Advanced Forex Price Action Course

Forex Mentor Program

© 2015-2021 love-the-pips

  • Grey YouTube Icon
  • Grey Instagram Icon
  • Grey Facebook Icon
  • Grey LinkedIn Icon
  • Grey Twitter Icon



*There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Samuel Morton, and all individuals affiliated with this site assume no responsibilities for your trading and investment results. The indicators, strategies, columns, articles and all other features are for educational purposes only and should not be construed as investment advice. Information for Forex trading observations are obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. Your use of the trading observations is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the information. You must assess the risk of any trade with your broker and make your own independent decisions regarding any securities mentioned herein. Affiliates of Samuel Morton and may have a position or effect transactions in the securities described herein (or options thereon) and/or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading Forex, Options on Forex, and any retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Samuel Morton and is not an investment advisory service, is not an investment adviser, and does not provide personalised financial advice or act as a financial adviser. exists for educational purposes only, and the materials and information continued herein are for general informational purposes only. None of the information provided in the website is intended as investment, tax, accounting or legal advice, as an offer or solicitation of an offer to buy or sell, or as an endorsement, recommendation or sponsorship of any company, security, or fund. The information on the website should not be relied upon for purposes of transacting securities or other investments. You hereby understand and agree that Samuel Morton and does not offer or provide tax, legal or investment advice and that you are responsible for consulting tax, legal, or financial professionals before acting on any information provided herein.

*All services and products on this website (and all services and products offered by SM Web Capital Ltd) are for educational purposes only. SM Web Capital Ltd and love-the-pips is not an investment service and does not offer financial advice. No client funds are managed. There is no need for SM Web Capital Ltd or love-the-pips to be regulated by the FCA. 

*All trading products and services are non-refundable.  It is hardly fair to process refunds just because you change your mind after receiving materials and the education. Just as and iTunes, we do not offer refunds for digital products, there are NO refunds on any digital products offered on this site. Past results are not a reflection of future gains.  Our Mentor Program is non-refundable upon the start of the first training session. Our time is priced at £250.00 per hour, the mentor program offers 2 paid hours with the remaining program free of charge. Our Advanced Price Action Course is non-refundable once the purchaser has logged-in. is dedicated to learning profitable Forex price action trading