euro Posted October 15, 2013 Posted October 15, 2013 It will be like gambling if you don't 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. Yes, that is right. We will be gambling without a plan. Its like sailing into the Atlantic and do not have a blueprint of where we are going and how to get back home. Will you do that without food and safety on the Atlantic. Well, its the same thing in forex. You could lose all of your funds so its like you're losing your resources and then then get lost and then drown or pass out cause you're hungry and have no direction to get you home. So, its very crucial to develop a plan to make a winning trade. Make sure yours is tested and good to go. Quote
StillAlive Posted October 17, 2013 Posted October 17, 2013 In fact 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 not get these strategies, better for us to construct our own plan and strategies. Quote
ivan Posted October 17, 2013 Posted October 17, 2013 Well, 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 on my own. But I still have to learn more and more to be able to depend on myself. Quote
HarryPotter Posted October 17, 2013 Posted October 17, 2013 I see that 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. Quote
kiranchandra Posted October 17, 2013 Posted October 17, 2013 Definitely , How am i suppose to trade without making a plan first ??? For one to go into the market without a proper risk management plan is more like one going to catch a crab without knowing how to clip it. Quote
budado Posted October 26, 2013 Posted October 26, 2013 I do have a trading plan and I do make it sure the I can handle my account in forex trading without any problem. My main goal and objective right now is to make sure that I can really handle my account in here without any problem at all. I'm really excited to make it big in forex trading. I do believe that in forex trading some day I will be making big income in here without any worries. Quote
rofi93 Posted October 28, 2013 Posted October 28, 2013 no, i don't have a written rule...but i have my own trading plan in my mind...i always follow my trading plan so that i don't lose money...and i always try to avoid greed and fear...that helps me to win and gain profit... Quote
davils9 Posted November 10, 2013 Posted November 10, 2013 yes I have a trading plan too. I want to be a good trader and I like forex business so much. However it s a risky business too, but there are no any business without risk in the world. So I like it so much. Quote
davils9 Posted December 7, 2013 Posted December 7, 2013 Planing is most important for every success we need to take a plan to be success in forex market and it will be better for me and it will be better for my work. I want to success in forex market too. Quote
standart Posted December 7, 2013 Posted December 7, 2013 I think every traders who willing to success in this business should create trading plan. plan help them to not being aggressive, greedy and always trade based on opportunity. traders won't trade whenever they want and become patient. Quote
euro Posted December 14, 2013 Posted December 14, 2013 Yes, I do have a trading plan and its wise for all of us to have a trading plan. After all it will cause us to lose less and gain more money. Why walk in and have no plans at all and forex is not the place for impulsive gambling. Even a guru lose so a gambler will surely lose all in five minutes. I do have a plan and I do use it at all time. I have a management plan that keep loss low and earning high. I also have a plan to earn in other arena beside forex. We all need a plan. Quote
screw_twizz Posted January 2, 2014 Posted January 2, 2014 Indeed I've got a new trading prepare, that's to not ever possibly be as well greedy as well as 8pips revenue I go to sleep in case trading was in the night, nevertheless At some time the brain do go up and down as well as tell us to recover a lot more revenue in the event the current market is being conducted the direction, I adhere to the brain as well as leave the brain suggestion. Quote
waleedbinazhar Posted January 5, 2014 Posted January 5, 2014 I always set my trading plan before i put my order. It is very very important for a trader. By doing this a trader can get the full information about his trade before starting his trade. Quote
Decub Posted January 14, 2014 Posted January 14, 2014 A trader who doesn't have a trading plan will definitely find it difficult to succeed in Forex. Even the strategy that comes within is part of a plan to trade. Without a good trading plan, the trader will only have to risk all and without any money management plan. Quote
Stekin Posted April 20, 2014 Posted April 20, 2014 Yes, I have a plan and the trading plan that I use is that if I am trading and I am able to make the type of profit that I want to make, I will have to close my trade in other for me not to over trade and start to lose. It helps me to plan all my trades one by one. Quote
Decub Posted April 23, 2014 Posted April 23, 2014 What is more important is for us to stick to plan and not just having a trading plan. We can make money from Forex when we are really determined to do so but before then, we have to really specify what we want from the business. In a bid to achieve this, we first have to draw a good trading plan or ourselves and be ready to stick to it. That is the only way to achieve something from Forex. Quote
tray22 Posted April 23, 2014 Posted April 23, 2014 I think each and everyone of us have a trading plan to be sincere because from the look of things my trading plan is always there so there is nothing to worry about all I know is that if a trader dose not have a trading plan there is no way which you are going to succeed in forex trading forex is one of the risky market which is here I think there is a need for us to have a decent and good trading plan Quote
tray22 Posted April 23, 2014 Posted April 23, 2014 I think each and everyone of us have a trading plan to be sincere because from the look of things my trading plan is always there so there is nothing to worry about all I know is that if a trader dose not have a trading plan there is no way which you are going to succeed in forex trading forex is one of the risky market which is here I think there is a need for us to have a decent and good trading plan Quote
uncle gober Posted April 24, 2014 Posted April 24, 2014 Trading plan is very important in Forex so its important that trading should always be done with proper trading plan and strategies. Trader can achieve their targets through proper trading plans. Let's Try Armada Demo Cup 2014 : Forex trading contest with 20 000 $ prize pool Quote
tray22 Posted April 24, 2014 Posted April 24, 2014 That is good and i think that if a trader have a trading plan he is plning positive for the future of his trade and that is when you see positive outcome in your trade always ensure that you trade with good determination and proper trading plan to ensure more succees Quote
tray22 Posted April 24, 2014 Posted April 24, 2014 That is good and i think that if a trader have a trading plan he is plning positive for the future of his trade and that is when you see positive outcome in your trade always ensure that you trade with good determination and proper trading plan to ensure more succees Quote
TenkoFx Posted April 25, 2014 Posted April 25, 2014 Trading plan is very important for a trader in this business to trade properly and make profit.start trading without plan is not a good idea.we need to properly analysis the market and then make proper plan according to market situation.in this way we can trade well and make handsome profit. Let's Take our quick survey and we’ll add $5 to your account from TenkoFx Quote
Decub Posted April 27, 2014 Posted April 27, 2014 When trading, it is wise to always think back what the result would be if your plans fail. That is the hub of rising when you fall. There is no way the market must go the way we plan, rather, it favors us in some and we feel the rough end in others. That is why it is good to always plan our trades well and to make it a better haven for us. Quote
myregister Posted October 21, 2014 Posted October 21, 2014 If you said putting SL and TP also keep pointing at the news which has high impact and be ready for it as trading plan then i have. In here what i want to say is like what is trading plan? is that just like other plans or more unconventional plans like what i said above. I am sure that most of traders that already gain more experience in forex know abuot this that forex must be have trading plan, to avoid something bad later. Quote
CahCuncun Posted October 23, 2014 Posted October 23, 2014 Of course, as a trader we must have trading plan. If we do not have it, we will not be successful trader in forex. We must know that forex trading is risky business. We must try to maximize our trading skill to get more maximal result in forex. Try to use small amount first to hone psychology and surely , starting fromdemo account to get trading experience "Invite your friend, get $10 and win $5,000" Quote
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