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Thread: Prepare 3 scenarios for a plan per trade

  1. #1
    Registered user ara's Avatar
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    Prepare 3 scenarios for a plan per trade

    Someone asked me, "Do you think the dollar will go down on Monday, what's your analysis?" I hear this kind of question a little less comfortable, I'm not an expert on analysis. For me, the analysis was made to determine the scenario, so if the analysis is bullish on one pair then there will be always 3 scenarios in it:
    1. If the market is bullish according to my analysis, what will I do?
    2. If it turns out the market is even bearish, not according to my analysis, what do I do?
    3. If the market turns sideway, not bearish or bullish, what am I doing ?,

    The essence of the analysis is not guessing the price, but securing equity prevents prolonged loss and maximizes profit so there is no bad tragedy for our deposit, I am a trader not a gambler, so in the trading world there is always a loss and there is always a profit, because:
    1. Understanding market interest (TREND)
    2. Know when market interest will be saturated
    3. Know with Economic order quantity (order in accordance with economic value) in order not to happen overstock, so that when the trend ends stock also sold out and start again stock with new trend.
    4. Know when to stock closeout (cover losses so as not to increase due to warehouse costs and its value will continue to fall).

    so we need analysis for the 4 things above, not guess up or down, but more precisely is what's should i do if?

    Best of luck for you all

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  2. #521
    Registered user pajero's Avatar
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    Quote Originally Posted by ctting View Post
    adjust the trading plan to our needs our busyness and our comfort, not all traders use the same trading plan, because maybe the conditions and conditions of each trader are different, do what makes us comfortable understanding and mastering the system that we make, all will be clear even though we experience loss though.
    Forex trading is a business, and a successful business has a business plan.

    This business plan is important because:
    1. Successful businesses have good planning in their success
    2. Keep us on the right track. A successful trader, he disciplined running the system and getting consistent profits and with the business plan made him more focused.

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  3. #522
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    The sure thing that would move us forward is to plan on our trade and build a strong system that can be capable to bring up profits for us. In this business we have to make the right plans and we have to understand the importance of great trading if we are very going to make it. Plans are essential and what we must do as a trader is to build a strong system that will guide us on the ability to win and realize our goals. I make plans on my trade and its been one of the best way to eventually follow the right signal that will surely comes up.

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  4. #523
    Registered user Lyon's Avatar
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    Your trading method will work for you when you are the kind of trader that really knows what you want from the market. Making a good trading plan is one of the important skills needed, because even when you have a good trading concept that you could make use of in making good amount of money, but when you lack what it takes to make good planning. You will fail and keep on losing your money. Make plans and follow it.

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  5. #524
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    Quote Originally Posted by pajero View Post
    Forex trading is a business, and a successful business has a business plan.

    This business plan is important because:
    1. Successful businesses have good planning in their success
    2. Keep us on the right track. A successful trader, he disciplined running the system and getting consistent profits and with the business plan made him more focused.
    If we actually follow a good plan in market then we develop our successful trade strategy and it also help to make good decision this is really perfect for work and help us to make good strategies i personally like to work with own ideas and plan for trade these will most helpful and useful to trade successfully and get positive results in shape of profits .

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  6. #525
    Registered user snnaky's Avatar
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    This all sounds good. But in the real world, most of these things are easier said than done. Profits don't run sometimes, and sometimes there are a lot of losses to cut short.
    how do we know the dips and bounce. every traders have their own strategy
    managing money is one of success methods , if you don’t have plan for managing your mony you will be a looser

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  7. #526
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    You need to make the right correction so that you can become profitable. You need to make good planning in the business. You need to also have the discipline because when you are disciplined, you can make good decisions in the business. Those who don't make good planning often loss a lot and they don't get to become successful.

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  8. #527
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    Traders should have daily trading plan and know the levels where they should enter the market and where they have to exit the market. Traders should be ready for different maarket scenarios if market moves traders direction or market starts to move against the trader. Trading plan and scenarios will let trader to do trades with long thinking.

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  9. #528
    Registered user cutiekc's Avatar
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    First of all, if you want to earn in the market, making a good strategy ought to come first, in the sense that it gives you a better idea about the plans that you should then have. You know, good trading plan leads to good profitable approach in trading. If you are not making a good strategy, then your plans will fail, so, we ought to know that they work hand in hand.

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  10. #529
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    cutiekc, I agree with you. Everything starts from strategy and the daily trading plan is in the second place. But plan should be in any case and trader should know what he will be doing in such or such market conditions and what entry points are and what exit points are. Trading without plan is very difficult because trader will think too much.

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  11. #530
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    Quote Originally Posted by Krosneles View Post
    cutiekc, I agree with you. Everything starts from strategy and the daily trading plan is in the second place. But plan should be in any case and trader should know what he will be doing in such or such market conditions and what entry points are and what exit points are. Trading without plan is very difficult because trader will think too much.
    Daily basic learning and the daily basic planning are the key parameter which important for earning the profits so we have to make our way of trade very accurate and the pther important thing is the good management skills to hold on the risks that is important for winning the profitable trade as we expect to gain .

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