RodWell Posted September 10, 2013 Share Posted September 10, 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 Link to comment Share on other sites More sharing options...
sakai Posted September 11, 2013 Share Posted September 11, 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 Link to comment Share on other sites More sharing options...
gaban Posted September 11, 2013 Share Posted September 11, 2013 No matter how good our strategic plan and, if we are not disciplined then everything will be useless. Plans that we have made should we run a disciplined manner. If we can discipline execute our plan, we will make trading more advanced. That way we will avoid the risk. Quote Link to comment Share on other sites More sharing options...
Forexfighter Posted September 12, 2013 Share Posted September 12, 2013 I always have a trading plan. Without planning Forex is very dangerous business and can lead us to big losses Quote Link to comment Share on other sites More sharing options...
euro Posted September 14, 2013 Share Posted September 14, 2013 One must have a plan in order to not lose a lot of money and to gain profit. I guess I always have a plan and sometimes that will help cut down my losses since I don't trade when its not profitable to do so. I will not jump in with just any trend but it has to be one of the best trend or strong trend in order for me to trade. I can almost tell when its a strong trend or a weak trend. I guess an experienced trader have intuition that guide them as well and the sixth sense can help out sometimes. I tend to think that trend helps me more than anything since I scalp and not a long term trader. I do and many should too. One of those plan is to avoid large losses. Quote Link to comment Share on other sites More sharing options...
StevenBendre Posted September 16, 2013 Share Posted September 16, 2013 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 Quote Link to comment Share on other sites More sharing options...
Decub Posted September 16, 2013 Share Posted September 16, 2013 A trading plan is inevitable to a Forex trader. It is where he draws out his strategies before opening a trade. It should be understood that one thing is for someone to draw a plan and another is to stick to it but this can be achieved if we instill discipline. Quote Link to comment Share on other sites More sharing options...
HarryPotter Posted September 16, 2013 Share Posted September 16, 2013 For sure trading plan is very important to make systematic approaches to achieve your set goals. The truth is that everyone has got goals, but only a few have made plans to achieve the goals. And in Forex, this is a limiting factor to enjoying success. Quote Link to comment Share on other sites More sharing options...
Samar Posted September 17, 2013 Share Posted September 17, 2013 I see that if you don't 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 success. Quote Link to comment Share on other sites More sharing options...
sakai Posted September 17, 2013 Share Posted September 17, 2013 I 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? It's 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 maximize your trades. Quote Link to comment Share on other sites More sharing options...
ivan Posted September 18, 2013 Share Posted September 18, 2013 I like to have a trading plan. I do make sure that in the long run I can make good income without any problem. I know it's really hard to make good income online. It's been a while since I last invested big money in forex and I got MC. And since then I make sure that each time I trade it's all been check and it's been supported by research and good analysis. Quote Link to comment Share on other sites More sharing options...
StillAlive Posted September 18, 2013 Share Posted September 18, 2013 I do weekly and daily analysis just to make sure that I'm trading in the right side of the track. I do hope I can make good income in forex trading for a long time. I'm sure many will go to end up losing big money in forex as they don't know how to trade. Quote Link to comment Share on other sites More sharing options...
standart Posted September 18, 2013 Share Posted September 18, 2013 every trader should have a trading plan. it help them to trading properly and avoid them make mistakes. trading plan here including risk management, risk tolerance and trading strategy. if trader have no proper trading plan, usually they will end up with aggressive trading or even trade blindly. Quote Link to comment Share on other sites More sharing options...
sakai Posted September 20, 2013 Share Posted September 20, 2013 Well, about me, it’s clear that any trader should have a trading plan because whatever we do will not run without a plan directed. And a trading plan will be produce maximum results if we are disciplined in implementing them. Quote Link to comment Share on other sites More sharing options...
Samar Posted September 20, 2013 Share Posted September 20, 2013 We should have such a good strategy. It will serve us our guide and that we will able to have trade properly and know of the different management towards success in Forex. If we don't have a strategy, then we are doom because we don't know what we are doing. Quote Link to comment Share on other sites More sharing options...
StevenBendre Posted September 20, 2013 Share Posted September 20, 2013 I see that hold and wait is the best way to make good profit in forex. As I'm sure I can really make something good in here in the long run. I know many don't like to invest big money in forex but it is important to earn good amount monthly. Quote Link to comment Share on other sites More sharing options...
HarryPotter Posted September 21, 2013 Share Posted September 21, 2013 Having a strategy will be good for traders because they can trade systematically and also will give them better result if they can follow and also act so fast in based on our trading plan. It will make us become a different in that business. Quote Link to comment Share on other sites More sharing options...
ivan Posted September 22, 2013 Share Posted September 22, 2013 In my own case, I do hope that my strategy is good enough to make me earn money in the long run. I know many do end up getting MC but I'm happy that some how even though I got multiple MC I still end up recover and will never give up. Quote Link to comment Share on other sites More sharing options...
StillAlive Posted September 22, 2013 Share Posted September 22, 2013 For sure if we are not disciplined then everything will be useless. Plans that we have made should we run a disciplined manner, if we can discipline execute our plan, we will make trading more advanced. That way we will avoid the risk. Quote Link to comment Share on other sites More sharing options...
standart Posted September 22, 2013 Share Posted September 22, 2013 trading plan is very important. and in making trading plan, trader should know their risk tolerance, trading strategy performance, and calculation about money management. when trader have good plan and they are able to keep discipline, they will able to avoid mistakes and generate maximum result in trading. Quote Link to comment Share on other sites More sharing options...
Samar Posted September 23, 2013 Share Posted September 23, 2013 I still have to learn more and more to be able to depend on myself. 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. Quote Link to comment Share on other sites More sharing options...
sakai Posted September 23, 2013 Share Posted September 23, 2013 Forex trading requires a trader to have trading plans at all times and then implement or follow the trading plan. 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 it’s a great thing and idea to continue sting to my plans instead of developing another one. Quote Link to comment Share on other sites More sharing options...
StevenBendre Posted September 23, 2013 Share Posted September 23, 2013 If you are a trader that has no plan you better develop one today for more profit. 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. Quote Link to comment Share on other sites More sharing options...
HarryPotter Posted September 25, 2013 Share Posted September 25, 2013 With out a concrete plans that it would be hard for you to learn forex trading well. It's known that trading in the forex, market without a trading plan is just a prerequisite for failure and losses. Getting such a good strategy need to be well-trained in that business. Quote Link to comment Share on other sites More sharing options...
ivan Posted September 25, 2013 Share Posted September 25, 2013 Our plans must be well studied. 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 four to five days. Quote Link to comment Share on other sites More sharing options...
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