Do you believe in using a Trading Plan?

Manalmeena

Private
Messages
26
No matter who you are or how good you are at forex you will always need to have a trading plan. The good traders who get to be the expert raiders do to jsut trade without a plan. When you have a plan you become organized and you are able to make better and well informed decisions. A trading plan saves you from making the sma mistakes that smot for the newbies make because of their emotions. if you do not trade with a plan then you will trade with emotions and that's what makes most people fail in forex trading. You need to know when to start and when to stop and the only way you can do that is if you have a plan. It will save you from a lot of trouble.
 

Dutchy86

Recruit
Messages
69
You definitely need some sort of plan, knowing how to manage your times, emotions and also your criteria for entering trades
 

ele020

Sergeant
Messages
188
Trading without planning is similar to making endless efforts to clear the trail without knowing where to head ultimately.
 

Eryk Martin

Recruit
Messages
166
No matter who you are or how good you are at forex you will always need to have a trading plan. The good traders who get to be the expert raiders do to jsut trade without a plan. When you have a plan you become organized and you are able to make better and well informed decisions. A trading plan saves you from making the sma mistakes that smot for the newbies make because of their emotions. if you do not trade with a plan then you will trade with emotions and that's what makes most people fail in forex trading. You need to know when to start and when to stop and the only way you can do that is if you have a plan. It will save you from a lot of trouble.
Well said.
 

sam.peters

Corporal
Messages
99
Absolutely essential, otherwise you're just gambling in my opinion.
Your strategy needs to be clear, concise and well thought out - it doesn't and won't ever be perfect.

But it does need to be structured with a goal, and measures.
 

Joshevans--

Private
Messages
54
Hello FPAins,

What do you think about Trading Plan, Do you stick with your plan, How it goes everytime?
4 trades max a day, 0.25% risk. I use tight stops, and high risk/reward. If I lose 4 trades I'm out for the day.

Stick to this long term, and my trading plan and I'm successful long term. Sometimes hard to stick with it, though.
 

sarah2701

Recruit
Messages
69
Yes of course, you must have a trading plan, without a plan how can someone think of trading, plan must be small and informative and fulfilling your objectives.
 
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