Do you believe in using a Trading Plan?

[downtrend]

Each trader must have a Trading plan using which he can get a good income and the one which can stand the test of time.

This is why whenever we plan to do our trades we must always remember that each trade will make us better traders one day

Every trade is different from previous trades. As a trader we need to have a no memory of previous trades so that we can do next trade without having any influence of previous trades on us.

 

[Aaron Dias]

Every trade is different from previous trades. As a trader we need to have a no memory of previous trades so that we can do next trade without having any influence of previous trades on us.

As a good Forex trader we will have to know about the trades that have a potential of giving us income and then only we can say that we are improving our trading.

 

[EURUSD]

As a good Forex trader we will have to know about the trades that have a potential of giving us income and then only we can say that we are improving our trading.

Yes, you're right. Good traders must know good time for trading with current strategy so the profit can be maximized and the loss can be limited. If there is proper trading plan then it will be easier to make right decision in many different conditions of market. It's hard to realize consistent profit in forex business but it will be easier to be realized if there is proper trading plan.

 

[Aaron Dias]

Yes, you're right. Good traders must know good time for trading with current strategy so the profit can be maximized and the loss can be limited. If there is proper trading plan then it will be easier to make right decision in many different conditions of market. It's hard to realize consistent profit in forex business but it will be easier to be realized if there is proper trading plan.

Our trading plan must be such that we are able to execute it with profits. This means we will have to analyze the trading situation and then only we can take a decision whether we want to do trading or not

 

[EURUSD]

Our trading plan must be such that we are able to execute it with profits. This means we will have to analyze the trading situation and then only we can take a decision whether we want to do trading or not

Good trading plan is not always ending with profit in each transaction but you must capable to limit loss too because no one who can make sure what will happen in the market 100% so there is still possibility for you to make mistake and suffer loss. But with good trading plan, the loss has been managed so it won't be more than you could afford to take in single transaction and you can recover the loss from the next transaction.

 

[nahiyar]

We say many things about trading plans , it is important for traders. But market never moves as we think . We can just manage well with trading plan . Our plan may be weak some times we have to make changes in it. It is good to plan before trading I believe in trading plan it makes us a planned and disciplined trader.

 

[EURUSD]

We say many things about trading plans , it is important for traders. But market never moves as we think . We can just manage well with trading plan . Our plan may be weak some times we have to make changes in it. It is good to plan before trading I believe in trading plan it makes us a planned and disciplined trader.

Yes, you're right. No one can make sure what will happen in the future 100%, all traders can do is only making prediction about tendency of market's movement. That's the importance to use proper trading plan in forex business, it can maximize when the analysis is same with market's movement (at least almost similiar) and minimize loss when the analysis was wrong. If we can be discipline to stick on the rule, then it will be easier to realize consistent profit.

 

[EuroTrader]

Yes, you're right. No one can make sure what will happen in the future 100%, all traders can do is only making prediction about tendency of market's movement. That's the importance to use proper trading plan in forex business, it can maximize when the analysis is same with market's movement (at least almost similiar) and minimize loss when the analysis was wrong. If we can be discipline to stick on the rule, then it will be easier to realize consistent profit.

We may try our luck in trading but we do not get success so the main thing that we have to understand as a trader is that luck may not work for us at all the times.

The best thing is to learn trading so that we can use our trading knowledge for getting the success

 

[downtrend]

I do believe in using a trading plan as it is very important for a trader for successful trading. Having a knowing of your limits while trading is described in a trading plan and this is why its very important.

 

[nahiyar]

I believe in trading plan but not very strict about it. We can not make strict plan for trading .It is changing market so we have to change plan at any step . Just few rules should follow other decisions of trading should be according to the situation to get good results from forex.