Do you believe in using a Trading Plan?

fxoday

Recruit
Messages
465
A trading plan will help us to map risk tolerance and target profit, with the trading plan also will easy to evaluate trading, sometimes need to recognize the mistake of trading to make betterment trading skill.
 

ele020

Sergeant
Messages
167
r
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.
right. trading without a plan is pure gamble and nothing else.
 

sarah2701

Recruit
Messages
56
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.
Nice explanation, and for new traders trading plan is one of the most important things to keep safe themselves from losses.
 
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