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Thread: Close your Position as you originally Planned

  1. #1
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    Close your Position as you originally Planned

    I am newbie in forex trading and i have not much experience in trading but i still a successful trader because my tradind style is always start and ends with discipline I never do greed and always say to others that
    "Be disciplined , don't be greedy .Always close your forex position as you originally planned in the form of profit or loss"
    Its the key of success for me. just tell me is it well or not.

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  2. #141
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    some time modifications can be good but not all time, because when we modify own plan we got some issues, we can not trade here accurately we can not understand reality and we also become confused so i think we should make plan and work on it, don't try to change again and again but on confirmation we can

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  3. #142
    Registered user newentry's Avatar
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    the plan is set to make us easy to achieve the goals, but sometimes we see that market give us a new thing or views where we have to make improvements to follow it, and here is we need to be a flexible trader who understand with the conditions and take the benefits from it, and of course we have to always follow the rules and especially for risk managements tightly, there is a time for us to close the position earlier when we see the situations is not good, accept small profit or small loses is much better to keep trading safely

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  4. #143
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    Quote Originally Posted by naeem555 View Post
    some time modifications can be good but not all time, because when we modify own plan we got some issues, we can not trade here accurately we can not understand reality and we also become confused so i think we should make plan and work on it, don't try to change again and again but on confirmation we can
    Modification also can make another next decision which can make the order plan get worst, based on my trading history last trading order, I can get enough profit to get amount 13 USD per single trade, because stick on the trading plan, make my trading set up is better and easy to achieve the goal.
    Quote Originally Posted by newentry View Post
    the plan is set to make us easy to achieve the goals,
    Because the plan, we can easily to achieve the goal, by focus on the goal, any problem on way to achive the target point can be ignored and just focus on the target point,
    please take a look at my trading chart below, I plan to make sell, and now I focus on selling order. Despite now my order is on the floating loss.

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  5. #144
    Trader cozard007's Avatar
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    Quote Originally Posted by newentry View Post
    the plan is set to make us easy to achieve the goals, but sometimes we see that market give us a new thing or views where we have to make improvements to follow it, and here is we need to be a flexible trader who understand with the conditions and take the benefits from it, and of course we have to always follow the rules and especially for risk managements tightly, there is a time for us to close the position earlier when we see the situations is not good, accept small profit or small loses is much better to keep trading safely
    It is better to have plan as part of the work of the trader, the trader will not make it when they have good strategy without having the good plans that will work out the trading strategy for the trader. All things have to be done well, and with time, the trader will get to know things in the best possible ways.

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  6. #145
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    Quote Originally Posted by cozard007 View Post
    It is better to have plan as part of the work of the trader, the trader will not make it when they have good strategy without having the good plans that will work out the trading strategy for the trader. All things have to be done well, and with time, the trader will get to know things in the best possible ways.
    Originally, the good traders will have to do things in the way they will not be affected, that is why it is of good quality for traders to work with the sets of trading functions like the good strategy, plans and others that will keep on helping traders. They are the possible best which traders can blend together to give them the success they need.

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  7. #146
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    Quote Originally Posted by aris90 View Post
    Modification also can make another next decision which can make the order plan get worst, based on my trading history last trading order, I can get enough profit to get amount 13 USD per single trade, because stick on the trading plan, make my trading set up is better and easy to achieve the goal.

    Because the plan, we can easily to achieve the goal, by focus on the goal, any problem on way to achive the target point can be ignored and just focus on the target point,
    please take a look at my trading chart below, I plan to make sell, and now I focus on selling order. Despite now my order is on the floating loss.
    My these order is getting loss because I stick to the plan, eventhough the price is coming back again reach my entry price, but I must cut losses, because the losses is too higher, I know as the major trend on EURUSD is on the buying uptrend, but I do the speculation to sell the price and I got the bad consequences. I close manually if the price breaks the resistance point.

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  8. #147
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    every order we open there must be some reasons why we open or close so i think if our reasons are strong we can earn but if our reasons are not strong then we can be in confusion or can be in loss, mostly i prefer to use news because it give us some global reasons to place order

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  9. #148
    Trader cozard007's Avatar
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    Quote Originally Posted by naeem555 View Post
    every order we open there must be some reasons why we open or close so i think if our reasons are strong we can earn but if our reasons are not strong then we can be in confusion or can be in loss, mostly i prefer to use news because it give us some global reasons to place order
    It is true, there should be reason for our opening of positions in the market, but at times, some traders will do this wrongly. And i can telly you that when you open more than three position at a time, then, you are not helping yourself in the market. There are might be times that the news might want to affect all that positions at ones, panic will now set in.

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  10. #149
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    yes we should close own position just when order achieved the target or touch the sl,there are many reasons actually if we do not have good analysis then we can lose also and we can lose order which almost near of tp but its business if we break rule one time without specific reason we can break all time and that is one cause of loss

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