Plan your goals and Stick to the plan!

Ary Barroso

Active Trader
Jul 9, 2017
908
61
39
32
You are absolutely right . A trade without a plan is surely going to take you nowhere. I spend a good amount of time making a trading plan for myself . A plan helps me decide when to enter or exit a position. Also ,when i have a plan i remain more disciplined and emotionless as a trader than when i am without it.
When you are trading with a plan A, plan B then surely you’ll be able to recover your losses! Because, only one trading plan isn’t enough, since it’s a decentralized market!
 
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Baazex

Trader
Oct 28, 2019
53
1
14
21
Don't just buy and sale based on price only , plus too much focusing on win rate may also lead you towards trouble trading without proper plan may also discourage you Focus , Patience and yes Risk management will lead you towards desired goals just plan and be constant :)
 
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Ary Barroso

Active Trader
Jul 9, 2017
908
61
39
32
Don't just buy and sale based on price only , plus too much focusing on win rate may also lead you towards trouble trading without proper plan may also discourage you Focus , Patience and yes Risk management will lead you towards desired goals just plan and be constant :)
I think traders need to focus on their trading process mainly; instead of focusing profit and loss!
 
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Feswyn

Trader
Nov 22, 2019
10
3
8
48
Your point of view is true. One side. But what if a newbie doesn't fit the plan? Then he will begin to get nervous and lose confidence. And it is very dangerous. Constant planning puts pressure on traders morally. And forex is already so very much affects the psyche. When trading, we are constantly afraid to screw up. And with the plan, the trader is afraid not only of losing money, but also not being in time for the plan. This will be an additional moral pressure, which will leads to rash conclusions. Of course, the questions "What are you striving for?" is important before starting any career. But set the time frame isn't worth it. Someone can become a successful trader in a month, and someone in 5 years. But in the end, both will be equally successful. Should 5 years later, the one who was going to the same success longer worrybecause of this? I think not. But if he was guided by the plan, then he would be worried.
 
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james_5

Newbie
Oct 19, 2019
13
2
4
35
I understand beginners have a hard time managing their trades as well as plans. But planning is indispensable for successful trading.

It might not be possible for traders to actually follow the plan they have built.. but with time and experience traders will be able to manage all of it. So no need to worry, experience teaches a lot.

 

Zack King

Active Trader
Mar 4, 2019
130
26
44
i try and create my 3-4 day plan and stick to that. not always easy to do though