Is Trading Success depends on Plan and Patience?

Discussion in 'General Forex Discussion' started by SweetPrincess, May 12, 2017.

  1. SweetPrincess

    SweetPrincess Trader

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    In Forex trading, we must have a good trading plan and requires a lot of patience in order to become successful in the business. What do you think?
     
  2. Enivid

    Enivid Administrator Staff Member

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    Yes, both planning skill and patience are huge requirements for consistent success in Forex trading.
     
  3. Banni

    Banni Trader

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    Plans are understandable, but I don't know how patience helps in trading, I wouldn't say that patience helps, but perseverance helps most of all. But it has to be justified, not just to persevere in draining, one should learn from his mistakes.
     
  4. Michelle Yeoh

    Michelle Yeoh Trader

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    No doubt, plan and practice are very important parameter here! But, 1st of all, knowledge is the key point here! Without having enough knowledge, you won’t be able to make a suitable trading plan to you!
     
  5. Kevin Murdok

    Kevin Murdok Trader

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    Maybe. But not for everyone. Many traders trade intuitively and do not have a plan. But patience is certainly the most important factor that is necessary for scalpers and fundamentalists alike.
     
  6. James Williams

    James Williams Newbie

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    Yes trading depends on plan and patience. But there are more important thing. Knowledge and skills are the most important. Then come how well you can manage your trading emotions. People lose money due to lack of knowledge and emotional decision. Trading is combination of all these things.
     
  7. Ben12

    Ben12 Newbie

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    the tranding depends on the handling of emotions and a good strategy
     
  8. Archer

    Archer Trader

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    Completely agree. Forex trading require good strategy to make profit.
     
  9. Rayford Adam

    Rayford Adam Trader

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    Hi

    According to me patience and plan play vital part in trading & these two come to us after much practice and experience.
     
  10. PolinaPolly

    PolinaPolly Trader

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    Completely agree that one needs both.
    First of all, you need plan: choose a strategy, choose a broker you can trust and learn a lot. By the way, be sure a broker suits your strategy, cause some brokers do not allow to scalp, for example.
    At the same time, do not underestimate the role of emotions! Cause the ones, who do, may fail in trading very quickly.
    If you trade on demo accounts (which is also important, I believe), do not expect the same emotions when you trade on real ones. Here you need control and patience!!!
     

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