Do you believe in using a Trading Plan?

[Kikkert]

Unless we will be having a good and reliable trading plan we will not get much success in our trading and this is what we have to always follow

what for you is good and reliable trading plan?

 

[EuroTrader]

what for you is good and reliable trading plan?

I know that if i am able to make Profits in 1 week but then at other weeks i do not have any income then it will be useless for me. So for me a good and a Reliable trading plan is one using which i would be able to get consistent income from the Forex markets

 

[Kikkert]

I know that if i am able to make Profits in 1 week but then at other weeks i do not have any income then it will be useless for me. So for me a good and a Reliable trading plan is one using which i would be able to get consistent income from the Forex markets

That's rather vague answer, I expected some story about your strategy and techniques and so on

 

[EuroTrader]

That's rather vague answer, I expected some story about your strategy and techniques and so on

How do you expect to give details about my strategy and techniques which i have developed and perfected slogging days and nights for over 2 years

 

[kingsman]

I always stick with my trading plan and I am enjoying my trading, I would like to say that forex is risky and tough business and trading blindly can be dangerous, so always trade according to the planning in order to get the desirable results.

 

[ElaineMDG]

IN the past couple of weeks, since really developing and WRITING DOWN my strategy;
-Of the trades I've taken NOT following the strategy, acting impulsively, or exiting the trade earlier than stated? I lost MOST of these trades, and the ones I won, I closed them out too soon, resulting in barely any profit.
-Of the trades I followed TO THE LETTER of my strategy? I've profited 80%, Lost 15% (all 20Pips or less!), Broke Even 5%
I've decided to stick with my strategy.
PS: the difference in how it affects you psychologically seems even greater than any profits made! It's actually MUCH nicer to know EXACTLY what's going to happen-or not; than taking a wild guess and constantly returning to the platform to see where the trade is & what action I should take next

 

[Kikkert]

How do you expect to give details about my strategy and techniques which i have developed and perfected slogging days and nights for over 2 years

But this topic is made exactly for sharing such details

 

[EuroTrader]

But this topic is made exactly for sharing such details

What the topic has to do with it .. it depend on the trader himself

 

[nick.bern]

Yes I do, and I work on developing my own one. I don't like doing trading unplaned. Ofcouse, there were many bad strategies in the past but as time passes, I develop better strategy everytime. And I think that everyone should have one!

 

[hitfx]

We should follow the trade plan with discipline and stick to it and by doing this we can achieve our targets because trading plan helps us to minimize the trading risk and improve profit.