Do you believe in using a Trading Plan?

JayDee3000

Recruit
Messages
44
It’s good to stick to something and adjust as you go along. I have a few rules I follow and varies between pairs.

mostly I learn about the different outcomes fundamentally as I mostly follow news and trade long term. I then use technical analysis to choose and confirm entry for trades.
 

fxoday

Recruit
Messages
496
A trading plan, I think we should have a plan in trading, so we can measure the risk limit will be taken and also what kinds strategy that will implement, and also about position size that will be used etc.
 
Messages
121
I'll join the ranks of those who say it's important to have a trading plan. Having a plan is essential in my opinion - except maybe those who are very experienced traders. For the rest of us, a plan can be a huge help in trading rationally instead of trading emotions.
 

nahiyar

Private, 1st Class
Messages
881
I will like to use a trading plan because it is a part of good trading . With experience I learnt that a plan should be with a trader so that he can do right decisions . His emotions not distract trading t wards any wrong movement of market or he should not trap by market vitality to gain much profits. All skilled traders are in favor of trading and management plan of trading.
 

Regalm_

Private
Messages
18
In my view, planning gives you a good hold on what you're doing, A trader who is planned and organized, trades with much more confidence as compared to the one who hasn't planned much.
So yes, for me planning is important.
 

fxoday

Recruit
Messages
496
Yes, actually plan trading not give a guarantee will obtain profit, but at least we understand what we did. if we have a mistake then can evaluate the mistake ahead can protecting from intention to repeat the same mistake
 
Top