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Your forex trading strategy should be very clearly defined and is something over which you need to take your time. It should also be drawn up against current market conditions and should be reviewed frequently as these conditions change. It should for example include elements for trading in markets which are both trending upwards and downwards and should also specify just how long you should stay in a particular market before closing out your position. Perhaps most importantly it should detail just precisely how you intend to time your trading. Time is all important in currency trading and if you enter or exit a trade either too early or too late then your profit on that trade could well simply evaporate. Finally, do not forget that your strategy should take into account your relative inexperience and should allow for the fact that, if you are just starting out, you will be on a steep learning curve and will inevitably make a few mistakes at first.