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    Registered user ara's Avatar
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    Consistency for your trading plan

    I put this thread here because it is part of Beginners guide. You find a lot of materials in this forum related to forex trading, of course it can be a library for you to learn more and more. I'm sure nothing is useless here, but if you think so then just absorb what is useful, discard what is useless and add what is specifically your own. It's so simple.

    As long as the market moves up and down, then it's fruit for you. How did it happen? Of course you should be able to DANCE IN THE MARKET. What the??? How to?? YES..., TRUST ME.., You can DANCE..., although you can't dance in the market, trust me you can dance ballet, tango, samba, or belly dance, or something else. But, really very surprising why in the world of forex trading where the comparison of win and lose is 50:50 almost 90% of people in it always fail. Though only need to determine buy or sell when will enter into trading position. Why it happened there was one thing in common between these people. Ie inconsistent in carrying out trading systems and unplanned trading activities.

    All things unplanned will lead to chaos in this case margin call or stop out. Not having money management in trading causes the trader to become a true gambler. A good trading plan will make our account can continuously survive and growth, we will also be able to read and also analyze the location of the error of our trading techniques. Without any trading plan we will not be able to make improvements to the trading system and the perfection of the trading system that we used will never be achieved.

    Examples of cases one form of improvement of trading system:
    There is a trader. After 10 trading days turns out the system that he uses is always lost. Though he always apply his trading plan in a disciplined and consistent. But the resulting consistent instead lose.

    If there is a case like this, if his trading didn't noted it will be difficult to evaluation or improvement. Maybe even he will change the trading system he uses with other trading systems. And when he realizes he has found a very good trading system. And when he realizes that in fact he has used a very good trading system.

    What the? why good ?? someone must be wondering. Is not the system he used always lose? Of course all trading systems have advantages and disadvantages, I can't remember how many times I say this in this forum, which obviously I often say this. That's why we should find and learn the advantages and disadvantages of our trading system, having a trading journal is a way to develop a trading system that we use, you should do a forward test to get a data of your trading history by using your trading system and evaluate it, do it again and again till you can make your trading system become profitable. Or at least, we can do back test if we are lazy to do forward test.

    Development of a trading system by a trader can only be done because he is consistent with the system he uses so he can make improvements to the system he has.

    Trading is a matter of probability but many beginner and middle-class traders do not have consistency in their trading system. In this thread I will first emphasize on the consistency of usage of trading techniques. Consistent I mean here is not changing the trading system used. But beginner traders often ignore this, when he trades with 1 technique when he suffers a successive loss and then he will change to another trading system.

    For example, let's say we already have backtest or forward test data for our trading strategy. So we know that the wining rate of our trading strategy is 70%. (How to do a proper back test/ forward test? just find it here.)

    Then he do a real trading, the result is: (let's say the result in his real trading is same with the data of test)

    1st trade : Profit
    2nd trade : Profit
    3rd trade : Loss
    4th trade : Loss
    5th trade : Loss

    (in this condition usually beginner traders will start "upset" and change this trading strategy to other trading strategy)

    So he will back to zero again and again, changing and changing again his trading strategy. He stuck on this phase for years.

    Conditions will be different if he is consistent in his trading strategy. let's say that he didn't change his trading strategy to other strategies.

    6th trade : Profit
    7th trade : Profit
    8th trade : Profit
    9th trade : Profit
    10th trade : Profit

    This is because the probability of the system is not so on win. Or even in 100 trading times, it could be the first 30 trades will be loss and the next 70 trading times will win.

    Well, so that our margin is able to withstand loss until 30 times, this is needed a risk management, this is where the importance we make a trading plan. You can also read about it here.

    "I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times."
    – Bruce Lee

    Those quote can inspire us that learning and practiced 1 strategy for a long time is very powerful compared to learning and practiced 10,000 strategies once. Well, for beginners please try to start consistent on your system and make your trading plan. Focusing on developing your trading strategy, learning a strategy longer is the best way, don't learn a lot of strategies at one time or change trading strategies too quickly, forget about finding perfection in a never-losing way of trading or holygrail. Consistent with "profits bigger or more than loss" is enough.
    If you can apply this then you will have the chance to survive and growth in Forex trading world.

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    Last edited by ara; 07-16-2018 at 08:18 AM. Reason: change some words

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    Quote Originally Posted by altafch View Post
    good planning everyone want here like everyone want profit from market but some loses some earn, so everyone have own ways for trading everyone have own experience. the difference is learning some learn good and some learn bad so some earn and some lose, when we use demo for long we understand nature of market we can earn from it otherwise when we do not use demo we can simply lose money so be a trader who learn before earning
    this is reality everyone have own experience but here we can ask from experts as well, we can learn from experts a lot of things, if we do this we can really learn many good tips we can learn things which can save us from losing big, but make sure if you want to follow then follow a good trader not a bad one, our trading can make us rich and can give us big loss also if we do not have good experience so trader should try to understand this thing before going to real trade

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    Quote Originally Posted by altafch View Post
    good planning everyone want here like everyone want profit from market but some loses some earn, so everyone have own ways for trading everyone have own experience. the difference is learning some learn good and some learn bad so some earn and some lose, when we use demo for long we understand nature of market we can earn from it otherwise when we do not use demo we can simply lose money so be a trader who learn before earning
    It is one thing to want something and then another thing to work towards it and then get it obtained. Therefore, every one wants to become successful in life but so many have failed to keep to the rules to make them become successful, so the same thing applies to forex trading market as well, we need to be serious and work hard if we want something.

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    Quote Originally Posted by Darkhorse View Post
    It is one thing to want something and then another thing to work towards it and then get it obtained. Therefore, every one wants to become successful in life but so many have failed to keep to the rules to make them become successful, so the same thing applies to forex trading market as well, we need to be serious and work hard if we want something.
    if they fail it not means they will fail always, with failure they can get some experience and can do better next time, but here some loss can not define us we are fail, loss is normal thing we must need to understand why loss is happening, if we learn from loss and avoid mistakes we can do better trade next time,so any way we can choose here but make sure you verify it on demo before doing on real

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    Rookie Toyen's Avatar
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    Quote Originally Posted by Darkhorse View Post
    It is one thing to want something and then another thing to work towards it and then get it obtained. Therefore, every one wants to become successful in life but so many have failed to keep to the rules to make them become successful, so the same thing applies to forex trading market as well, we need to be serious and work hard if we want something.
    Wants or dreams are good at times, but they should be limited in such a way that will not make traders to over-dream. It is nicer for traders to work with those things they want to achieve by themselves and through their plans, not that they will want it alone. They need that to make sure that they achieve their goals and they can be making consistent earning with it when they are right with their plans.

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    Quote Originally Posted by Toyen View Post
    Wants or dreams are good at times, but they should be limited in such a way that will not make traders to over-dream.
    we can fulfill dreams but it required our hard work, it required our patience if we have we can do better if we do not have we cannot, actually some time we make dreams which is not based on reality so it can be bad, some time we think we can earn big from smaller capital so its not possible, we can use some good target which can achieve, so its better to use it, mostly we try to earn very big from small its not possible actually

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    First make strong and successful trading strategy plans are very important for everyone after it you should easily start our trade on market for getting everyday good earning from it. I have always first understand strategies rules and factor well and make this strategy in demo account testing after it i have start our trade on live account trading to everyday getting success on this business.

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    Rookie Silhouette's Avatar
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    Quote Originally Posted by biru View Post
    First make strong and successful trading strategy plans are very important for everyone after it you should easily start our trade on market for getting everyday good earning from it. I have always first understand strategies rules and factor well and make this strategy in demo account testing after it i have start our trade on live account trading to everyday getting success on this business.
    We may understand our strategies very well along with their rules and our plan too. Too bad it's still not enough to provide us assured trading with 100% because market still has the power to turn things upside down in seconds then destroy our whole analysis easily. What it's truly mean about consistency is how good we can control our risk and reward so we can get the result based on our analysis and still capable of limiting our risk to the minimum size.

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    rules made to be followed, not to be broken

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    Planning is very important and its what would give us all the possibilities of making sure success can be obtainable in forex. If we can do everything necessary to plan on this trade and build a great skills to trade, we will sure have the very strong chance to make good trade. We have to plan well and we have to understand why we should learn about forex. With plans we can have the right process to build a good trade and possibly improve to achieve the right goals.

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    Quote Originally Posted by Ulthred View Post
    Planning is very important and its what would give us all the possibilities of making sure success can be obtainable in forex. If we can do everything necessary to plan on this trade and build a great skills to trade, we will sure have the very strong chance to make good trade.
    Forex is great, as long as we know how to trade it. Coming to planning, when we are properly trained we can make a strong trading plan but then to follow it is dependent on our own psychology. Not planning or not following a plan can have more devastating results in Forex than other business because Forex is one business where lot of uncertainty prevails. We should not deviate from our plans in the heat of trading.

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    Quote Originally Posted by Abhishekwala View Post
    Forex is great, as long as we know how to trade it. Coming to planning, when we are properly trained we can make a strong trading plan but then to follow it is dependent on our own psychology. Not planning or not following a plan can have more devastating results in Forex than other business because Forex is one business where lot of uncertainty prevails. We should not deviate from our plans in the heat of trading.
    yet frustrating at the same time because not every traders in the business can do the same like others who has more experience and longer time spent. however it's our best interest to do anything necessary to get more knowledge and experience everyday to improve our skills and change our result from good to better. never get satisfied with our performance, it's good to help us improving everyday and get more consistency.

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