StillAlive Posted September 25, 2013 Share Posted September 25, 2013 It would be better if we have some plans for if we fail when trading with our first plan then we still has other backup plan. 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 easily without hassle. Quote Link to comment Share on other sites More sharing options...
sakai Posted September 30, 2013 Share Posted September 30, 2013 The market is very dynamic and all plan and rules 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. Quote Link to comment Share on other sites More sharing options...
Samar Posted September 30, 2013 Share Posted September 30, 2013 Trading plan is like guidance to traders to keep stay away with the worst scenario. Even sometimes, all psychological problems can be handled. 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. Quote Link to comment Share on other sites More sharing options...
StevenBendre Posted September 30, 2013 Share Posted September 30, 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 Link to comment Share on other sites More sharing options...
euro Posted September 30, 2013 Share Posted September 30, 2013 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. I guess we will always need a plan when we trade. I can see that without any kind of clear direction, we're setting ourselves up for failure. I think if we want to succeed we have to have good plans. plans are like the maps for a trip out to sea. We will get lost without a map and never be able to come home. Like me, I know I can never trade early morning hours cause there are no trends or off business hours as there are no trends. Its hard to earn that way. Quote Link to comment Share on other sites More sharing options...
StillAlive Posted October 1, 2013 Share Posted October 1, 2013 Surely I have a trading plan, which is never to be too greedy and 8 pips 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 suggestions. Quote Link to comment Share on other sites More sharing options...
HarryPotter Posted October 1, 2013 Share Posted October 1, 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...
ivan Posted October 1, 2013 Share Posted October 1, 2013 It's known that trading in the forex, market without a trading plan is just a prerequisite for failure and losses. Forex trading requires a trader to have trading plans at all times and then implement or follow the trading plan. Most traders lose because they abandon their trading plan. Quote Link to comment Share on other sites More sharing options...
Samar Posted October 2, 2013 Share Posted October 2, 2013 Failure to plan means planning to fail that's 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 Link to comment Share on other sites More sharing options...
sakai Posted October 2, 2013 Share Posted October 2, 2013 Actually 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 sting 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 Link to comment Share on other sites More sharing options...
StevenBendre Posted October 2, 2013 Share Posted October 2, 2013 For sure 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. I think you must always draw out a plan. Quote Link to comment Share on other sites More sharing options...
euro Posted October 8, 2013 Share Posted October 8, 2013 Of course all forex traders must have a plan. I would not go without one. My plan is long term trading. I find it profitable for sure and its less risky and also a very good way to earn with forex. I think its a way for me to trust in forex and to have something when I invest my money in forex. Yep, long term trading is my plan and it works just fine for me. I also suggest newbie to do long term trading and make more money that way. Its a sure way and scalping will cause a lot of losses and should be for the experienced only. Quote Link to comment Share on other sites More sharing options...
StillAlive Posted October 8, 2013 Share Posted October 8, 2013 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 easily without hassle but in a case were you don't have a good working strategy that is accompanied by plans. Quote Link to comment Share on other sites More sharing options...
ivan Posted October 8, 2013 Share Posted October 8, 2013 Well, 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 has other backup plan. Quote Link to comment Share on other sites More sharing options...
HarryPotter Posted October 8, 2013 Share Posted October 8, 2013 We should have 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 4-5 days. I also keep fixed SL and TP to keep my trades safe from big losses. Quote Link to comment Share on other sites More sharing options...
euro Posted October 9, 2013 Share Posted October 9, 2013 If you want a good trading plan, try to buy really low and then sell high. Long term trading for at least one day is also good as the profit is much higher in pips. Also you should scalp but buy really low and sell in time so you don't lose. Copying successful traders on Etoro is a good one too with traders over 96% successful trade rate so I would not mind copying them but I can always trade for myself. Now, if you are not good you can also get mentoring or help out there to become good and ask questions if you have some. Quote Link to comment Share on other sites More sharing options...
Samar Posted October 9, 2013 Share Posted October 9, 2013 Actually 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 problems can be handled if traders have good trading plan. Quote Link to comment Share on other sites More sharing options...
StevenBendre Posted October 9, 2013 Share Posted October 9, 2013 I think that 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. Quote Link to comment Share on other sites More sharing options...
sakai Posted October 9, 2013 Share Posted October 9, 2013 I see that having a good trading plan is better and you can as well make something more fruitful out of it a trader without a trading plan is like a rock without sand bed so it's much more important to have a good trading plan I think I have one that is more function for me. Quote Link to comment Share on other sites More sharing options...
StillAlive Posted October 12, 2013 Share Posted October 12, 2013 It's 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 success than we even ever imagine going to the forex market without good trading skills is like going to the river without a pot. Quote Link to comment Share on other sites More sharing options...
HarryPotter Posted October 12, 2013 Share Posted October 12, 2013 The good trader always sticks with their plan or rule but great trader knows when to break it. The market is very dynamic and all plan and rules 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 dynamicity. Quote Link to comment Share on other sites More sharing options...
ivan Posted October 12, 2013 Share Posted October 12, 2013 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. Quote Link to comment Share on other sites More sharing options...
budado Posted October 12, 2013 Share Posted October 12, 2013 I always have a trading plan. IÂ can invest big amount of money in forex and just earn 10% a month. I don't like to loss money in forex and I do hope that in two to three years time I can earn thousand of dollars each month. My main goal and objective is really to make it big in forex trading. So lets just hope we can sustain and maintain our account in here for good. Lets just hope that we can continue trading each month. Quote Link to comment Share on other sites More sharing options...
rexway Posted October 13, 2013 Share Posted October 13, 2013 I think every trader have a trading plan if you dont have a trading plan tell me how will you survive in this type of atmostphere that is very risky I think our plans do produce experience which we have to apply to make succees Quote Link to comment Share on other sites More sharing options...
StevenBendre Posted October 14, 2013 Share Posted October 14, 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. Quote Link to comment Share on other sites More sharing options...
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