do you have a trading plan?

[standart]

every trader should prepare their trading plan and even it more important than prepare other thing. trading plan is like guidance to traders to keep stay away with the worst scenario. even sometimes, all psychological problem can be handled if traders have good trading plan.

[tirus]

No trader should be trading without a trading plan in place. This is what will be able to direct a trader in their quest for profits on when and how to trade, when to enter into trades and when to exit for example. This will guide a trader on the best possible way to trade especially if you have taken the time to test out your trading plan first.

[rexway]

Well I accept to that but be rest assured that your level of knowledge and understanding is what hold it all so puting your effort to learn and understand things your self is one of the major advantages to this .

[standart]

there is phrase that good trader always stick with their plan or rule but great trader know when to break it. the market is very dynamic and all plan and rule maybe not suitable with all of market conditions. but by stick with the plan or rule, traders will always know that their loss still under control. and if you are great trader, you will not always stick with your plan or rule because you able to follow the market dynamicization.

[tirus]

But the essence of having a trading plan is to ensure that you anticipate what is to happen and look for ways to handle the scenarios that arise during trades. This is why we take the time to test out a trading strategy in demo account first before first taking it live and the same applies if you want to make changes to that plan again in the future.

[rexway]

Yea this is true for sure its very wrong to trade in the forex market without a good plan our plan give us success rate for sure and as well we obtain good knowledge and profit when ever we trade in this market this do give way to more sucees than we even ever imagine going to the forex market without good trading skills is like going to the river without a pot.

[tirus]

It would actually be like gambling if you dont have a trading plan in place because you will not be in a position to plan your moves while in the process of trading. The plan gives a trader direction on how to approach trading and the best possible way to do so since it will make forex trading much easier.

[budado]

I have a good trading plan and so far for the last six months its making me good money. In fact in the last six months I earn 10% on average. This is what I'm hoping for to achieve. I been earning good and I been earning well that I decided to increase my investments in forex. I hope that in two to three years time I can have a decent earning in forex. And in two to three years time I'm hoping to have a 10,000 dollars capital.

[rexway]

A trader without a trading plan is like a big cat without a mount to catch fish how can you step in to the trading enviroment without having a perfect plan this always make things more complicated here that is why i dont always like to trade without a plan so having a good trading plan is always the best step to take.

[tirus]

A trading plan is the difference between being profitable or not which is why its actually very important have one if you want to increase your chances or being profitable. Without one you are unlikely to make consistent profits out of your trading and therefore would just encounter losses along the way.

[budado]

I update my trading plan every week. I know I'm a long term trader so its really take lots of time for me to react to a market conditions and so far I'm happy that I'm earning good and earning well in forex trading. But that's because I always make sure that I have plans in forex trading. I just hope I can make good income in forex trading using my plans. I doubt that I can make good living in forex if I don't have plans.

[riddick09]

For sure, if we are in Forex, we will need of a trading plan. We don't have same trading plans and we should not copy other traders trading plan because, a trading plan is our own way for achieving our goal. It's like we choose the short term trading and gain few profits while others planned to have huge profits but in a long term trading. There's always have this plans because we want to have success in that field or any business.

[Ghost]

A trading plan is very important to make systematic approaches to achieve your set goals. The truth is that everyone have got goals, but only a few have made plans to achieve the goals. And in Forex, this is a limiting factor to enjoying success. For example, a trader would have a goal to make X amount monthly, but does not outline how to achieve it.

[tirus]

If you dont have the plan then you are not likely to achieve those goals and they would most probably remain a dream until you are able to come up with a plan to make them a reality. The same applies in forex indeed because it gives you direction on what you need to do in order to achieve your trading goals.

[chintu]

I don't have any trading plan and i just react with the movements and fluctuations of the market and i too think that most of the traders will be not having any plans to trade they just be ready to trade in any situation and in any time . Having trading plan will be really good and may be profitable but for me i never followed any trading plan . i will try in future .

[budado]

I don't have any trading plan and i just react with the movements and fluctuations of the market and i too think that most of the traders will be not having any plans to trade they just be ready to trade in any situation and in any time . Having trading plan will be really good and may be profitable but for me i never followed any trading plan . i will try in future .

I agree. most traders those not have plans and in fact its almost 95% of traders those not have plans. Ironically that's how many who end up losing their accounts also in forex trading. 95% of traders loss their account simply because or this type of mentality. But I guess you are not included in the 95% who loses in forex as its seems you are proud of not having a plan.

[tirus]

I would still prefer to have a trading plan than go without. If you are not using a trading plan then how do you get to evaluate your progress with forex. Its easy to look at forex as losing and profit from analysis but a strategy helps you to progress because you are able to determine where you are going wrong and find ways to maximise your trades. For me its obviously better to go with than without.

[budado]

Its either to earn by it or loss by it. At least if you loss you know why you loss. Than just trade at random. A trader without a plan is a loss trader even if he make profit right now. Because in the long run he can't maintain and sustain his account as his action will just going to be base on random occurance. But if you have plans if you loss you simply try to improve it and if you make profit then you try to maintain it.

[chintu]

Actually having a trading plan will be really good but unfortunately i do not have any plan till now and in future i am planing to make a good plan and make follow that plan so that i can earn some more profits with forex . there are most of the traders who will be trying to have some plans and get implement them to earn even more .

[willy]

My plan is for the long term not short term my goal is to make one million dollar in 5 years from now and starting from 1000 usd but also with digital strategy no indicators

[PROPENSITY100]

Its our planning and developing strategies that makes Forex better than gambling. However sticking to our plans is as important as developing a plan. Planning reduces risk and helps us to keeps our capital safe.

[budado]

My plan is for the long term not short term my goal is to make one million dollar in 5 years from now and starting from 1000 usd but also with digital strategy no indicators

Good luck with your dream, I mean your plan. One million dollars earning in 5 years is really a good target if you have enough knowledge and trading capital. Me right now I'm only aiming to earn 500 dollars a month this year. Although my regular monthy income right now is only 100 dollars a month. But that's my goal. To earn 500 dollars a month.

[gaban]

Sure, I have a trading plan. Without a plan, the activities can not walk properly and directed. In fact, sometimes trading with the plan, we are still going to face obstacles.

[lollabun]

trading plan is very good indeed. a trader who recorded and then discipline his plan will benefit in trading. I think trading plan similar to the economic calendar as a standard for fundamental analysis.

[standart]

trading plan is important to keep make trader become logical in every of their order decision. entry the market randomly while we have no parameter to predict where the price will be heading is wrong approach and will not lead traders make consistent profit result.