Do you believe in using a Trading Plan?

[EURUSD]

I think every successful trader has his trading plan, that is cheked and verified

I think you right, they as successful trader is not gambler, and they work with proper plan business and plan trading, and managed money also with money management and risk management, while they work with accuracy trading analysis

 

[downtrend]

I think every successful trader has his trading plan, that is cheked and verified

You are right, for a trader to get success in forex market, trading plan is a must have. If you don't have a trading plan, then you cannot achieve long term success in forex market.

 

[Franc]

If a trader has a good trading plan, you can see that his performance will be far more better than a trader trading without any plan. A trading plan makes a huge difference in a successful and an unsuccessful trader.

 

[downtrend]

If a trader has a good trading plan, you can see that his performance will be far more better than a trader trading without any plan. A trading plan makes a huge difference in a successful and an unsuccessful trader.

Having a good trading plan is very effective in a trader's life. The main difference between a successful and a failure trader is having and not having a trading plan.

 

[EURUSD]

I am still use plan trading here in forex trading activity, although not always success in all plan but with keep plan trading I can manage the risk in trading and learn the market behaviour also

 

[kingsman]

In order to get the success in forex trading you should have a good trading plan, I ever trade with proper planning and I am stick with my trading plan, some time I get the profit while some time I have to face the loss but I learn from my mistake.

 

[holycow]

A trade management plan is important in my opinion and more important is to stick with it, i also suggest new traders to keep a trading journal to review it weekly and evaluate their performance.

 

[dianajs]

A trade management plan is important in my opinion and more important is to stick with it, i also suggest new traders to keep a trading journal to review it weekly and evaluate their performance.

I would even say that it's a good idea to evaluate one's trading on a daily basis. Figure out what you did well that day and what could use a bit more study and practice.

 

[hitfx]

I never stick with one trading plan as forex is risky and difficult business and I always earn from this business with different strategy and plan. Some time I might face the loss but I never rely on one trading plan, I am using several trading plan.

 

[Pharaoh]

I never stick with one trading plan as forex is risky and difficult business and I always earn from this business with different strategy and plan. Some time I might face the loss but I never rely on one trading plan, I am using several trading plan.

This can work if there is logic behind it.

You can have a trading plan for ranging markets and a different trading plan for trending markets. You can have a long term trading plan and a shorter term trading plan.

What won't work is jumping randomly between plans for no particular reason.