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Do you believe in using a Trading Plan?

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

  1. momo3HC

    momo3HC Corporal

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    Yeah. That`s good too. Even 5% can be used but ONLY if you`re sure and in very rare situations.
     
  2. 7Bulletin

    7Bulletin Private, 1st Class

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    You know - trading is so much unpredictable so no I am not using any plan at all and I do not get the people who do use it. Something may change and whole your plan totally will be out of touch anyway. What you will do then ? So do I, don't do it.
     
  3. momo3HC

    momo3HC Corporal

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    I`m curious what exactly did you mean as trading plan?
     
  4. Quinuiacl12

    Quinuiacl12 Recruit

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    You must have to work on a typical plan for getting success for a long time. Planning is the key to success in the field of trading as far as I think. You need to make a good plan on the base of money management. Then, you have to stick to your plan. Am I right?
     
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  5. JamesForexSlayer

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    A trading plan is a must..........sticking to that trading plan is an ABSOLUTE must!
     
  6. bigdolly

    bigdolly Sergeant Major

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    Profit and loss targets. The point of the trading plan is to not get unexpected trading results in future so you won't experience mental discomfort from loss or excessive enthusiasm from profit. This will keep your emotional state stable = less trading mistakes, wrong entries and exits.
     
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  7. JamesForexSlayer

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    Essential a trading plan is!
     
  8. Thoris

    Thoris Private, 1st Class

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    I maybe believe in that, but in reality I never use it anyway for any of my latest trades so let's prolong with something else and not just this plans. Lot of people doing it simply as such and do not require anything in advance really. Good luck;)
     
  9. JamesForexSlayer

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    Whatever works for you :)
     
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  10. momo3HC

    momo3HC Corporal

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    Yes you`re right but at 50% I can say. I`m consider this as a part of risk and money management. There`s no sense to clear small picture without the big one to be cleared.
     

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