ermaniso2011 Posted January 21, 2012 Posted January 21, 2012 l have discovered that most of the traders dont have trading plan and written rules for their forex business.how about you?do you have written rules for your daily trading?like when to open a position when to quit.what to do when loosing a trade?etc. Quote
traderf Posted January 27, 2012 Posted January 27, 2012 I always have the plan, sometimes i don't understand this, but my mind works like computer and calculates all moments! Quote
luke1 Posted January 28, 2012 Posted January 28, 2012 I usually follow and put the money to the professional and proven traders who have good plans and strategies in Forex trading here. This way is much better than to trade Forex by my ownself. Quote
pinoycity Posted January 29, 2012 Posted January 29, 2012 It can be a blessing if we are going to know the successful trading strategies of experienced traders. We just have to copy this and we are on our way to earning substantially. However, if we can't get these strategies, better for us to construct our own plan/strategies. Quote
rexway Posted February 2, 2012 Posted February 2, 2012 Yes I have a trading plan,which is never to be too greedy and 8pips profit I go to bed if trading was in the night,but Sometime my mind do fluctuate and tell me to collect more profit when the market is going on my direction ,I always follow my mind and leave my mind sugestion. Quote
pinoycity Posted February 3, 2012 Posted February 3, 2012 It is good to go to sleep confident that your plan will work. In some cases, this works for me, but I do not do this often. I do not like leaving a trade hanging. As much as possible, I would like to close out a trade before I go to sleep. Quote
rexway Posted February 3, 2012 Posted February 3, 2012 You are absolute correct pinocity,with this you will have a good night rest with your mind relaxing confortable,leaving a Trade open and go to bed alwas make someone mind unstable. Quote
pinoycity Posted February 4, 2012 Posted February 4, 2012 I really have to follow my trading plan. I do have one but there are times when I become impatient that I will just enter a trade without the benefit of analyzing the charts thoroughly. Quote
flybiz08 Posted March 29, 2012 Posted March 29, 2012 Trading in the forex ,market without a trading plan is just a prerequisite for failure and losses. Forexx trading requires a trader to have a trading plan at all times and then implement or follow the trading plan. Most traders lose because they abandon their trading plan. Quote
Tariq777 Posted June 12, 2012 Posted June 12, 2012 yes I have a trading plan I also know my goals I know what I have to achieve and know how to make it achieveable Quote
luckyvoy Posted June 14, 2012 Posted June 14, 2012 Yeh i have a trading plan and in my view we should not trade without a plan. A good trading plan should consider all aspects a good strategy, capital and risk management etc. Quote
freaky Posted June 15, 2012 Posted June 15, 2012 Every trader definitely needs a trading plan, it is very important. Not having a trading plan is just like making a travel with a direction to your destination. A good trading plan will bring about a greater profit. Quote
rexway Posted June 29, 2012 Posted June 29, 2012 Well I have a decent plan which I think is best for me since am making a good profit out of my plan so I guess its a great thing and idea to continue stig to my plans instead of developing another one so if you are a trader that has no plan you better develop one today for more profit. Quote
Tariq777 Posted July 2, 2012 Posted July 2, 2012 Of course I do, and I guess everyone has one. We never do anything in life without a proper planning and forex is a risky area so planning is important Quote
Idris Posted July 8, 2012 Posted July 8, 2012 I think i followed the wise saying : failure to plan means planning to fail thats why i always read the charts, read the economic news after which i analyze the market so i can draw out which currency pair to trade, when to enter the market, when to exit, which leverage, to set stop loss as well as take profit etc. Quote
indieover Posted July 28, 2012 Posted July 28, 2012 Having a trading plan is very much important so that we would be able to make successful trading. With out a concrete plans that it would be hard for you to learn forex trading well. You must always draw out a plan Quote
hardworks Posted August 20, 2012 Posted August 20, 2012 l have discovered that most of the traders dont have trading plan and written rules for their forex business.how about you?do you have written rules for your daily trading?like when to open a position when to quit.what to do when loosing a trade?etc. Â Â Yes, i do have a trading plan which contains money management rule, when to trade and when not to trade, which pair suitable to trade now, which day is not suitable for trading and recover plans. Let me to get update by further discussion. Quote
budado Posted August 23, 2012 Posted August 23, 2012 I have many trading plans. In fact I trade so many times right now. I guess this year I already have more than 500 trades done and my trading plan is simple. Hold and wait and this strategy really works in long term strategy. I'm sure many will say its not good. But if you have good leverage and good capital I'm sure you going to earn good amount of money without any problem at all. Quote
adnan007 Posted September 7, 2012 Posted September 7, 2012 Everyone should have a trading plans in order to be a successful trader. I myself follow a few rules to keep my trading to a standard level. My plan is to have a strict money management policy and with taking a position for not more than 3-4 days. I also keep fixed SL and TP to keep my trades safe from big losses which I can not afford. Quote
fari Posted September 7, 2012 Posted September 7, 2012 you must have a plan. i believe one should have 2 plans so that if one back fires you can use your other plan. working without planning is very dangerous. Quote
rizal83 Posted October 16, 2012 Posted October 16, 2012 indeed once before we do our best forex trading should have a very good plan and we also can not rely on one plan only, it would be better if we have some plans for if we fail when trading with our first plan then we still have other backup plan Quote
rexway Posted November 10, 2012 Posted November 10, 2012 Trading plan should be the first thing for any trader think of and I do hope that if you really want to make it big then be ready to have a good trading plan first then all others things should come by easyly without hassle but in a case were you dont have a good working strategy that is accompanied by plans then there is nothing good to come out from there. Quote
mang_ncep Posted November 13, 2012 Posted November 13, 2012 Of course, i have a trading plan when trading with my fbs account, because trading plan will make our trading is more focus.. Quote
rexway Posted November 13, 2012 Posted November 13, 2012 Yes that is true having a good trading plan is more good and you can as well make something more fruitful out of it a trader without a trading plan is like a rock witout sandbed so its much more important to have a good trading plan I think i have one that is more function for me. Quote
luke1 Posted November 16, 2012 Posted November 16, 2012 Well, I sometimes have the trading plan here. Because we have to realize here, we have to have the trading plan on Forex trading. In this way, we will not trade without any direction here. This is such a good thing for us here to do. Also we need to share with other trader here Quote
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.