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Do you believe in using a Trading Plan?

Discussion in 'Beginners Bootcamp' started by FxMaster, Apr 6, 2015.

  1. Notati

    Notati Recruit

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    Honestly, I do not understand quite well what exactly looks like trading without trading plan. If you just enter into position how would you know when to get out? This kind of trading looks to me like huge gambling and FX trading is definitely not a gambling sport
     
  2. alexmarian

    alexmarian Private

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    Trading practice like gambling should be avoided. It is not good to take trading easy or granted that you will do trading without any analysis and experience. Do your best to find out possible outcomes, there must be a plan about your trading sessions.
     
  3. carnelian

    carnelian Private

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    The type of practice where traders not plans is useless. It is like gambling as trader not thinks what he should do for his money. As a gambler trading is totally dangerous. A good trading plan helps to do trading with ease and comfort.
     
  4. pino2000

    pino2000 Recruit

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    Clearly, I am. Since, I know the significance of good exchanging arrangement. It makes us self-control Forex broker. Without appropriate exchanging plan and exchanging technique. it's extremely difficult to make progress for long time. You should make your exchanging arrangement as indicated by your own exchanging quality.
     
  5. Notati

    Notati Recruit

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    Yes, i believe in using a trading plan. You should always enter the market with a trading plan. It doesn't matter whether the trading plan helps you or not, but you should go with it. You could ammend it from time to time if things are not going your way.
     
  6. johngerwin

    johngerwin Private

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    Yes of course you need a trading plan. Silly question tbh
     
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  7. HollyHopScotch

    HollyHopScotch Recruit

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    I agree
     
  8. Esannniki12

    Esannniki12 Recruit

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    Trading plan is very important when need to use during trading execution. For me , I have trade 95% on trading plan but sometime to fit my trading style I have to decision in front of my screen 5% or I feel something isn’t right.
     
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  9. johngerwin

    johngerwin Private

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    How is that working for you?
    I stick to my trading plan 100% without emotion.
     
  10. TrapLok

    TrapLok Recruit

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    Planning is very important in every field of life. It is also a very important thing in trading. You have to plan well before making a strategy. As it helps you to make an effective strategy through which you can achieve your goals. Without planning trading is like a gambling.
     

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