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Thread: Consistency for your trading plan

  1. #1
    Trader 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 09:18 AM. Reason: change some words

  2. #221
    Trader Senorita's Avatar
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    A plan is something we don't have to joke with. No matter how difficult it is, a good plan will help traders do what should give them a great chance to earn. Having a great plan can give us the possible means to handle this trade properly with the best chance to keep earning. We have to stay consistent with winning and have a good plan that will give us the procedure to build the best trade we can follow.

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  3. #222
    Trader Rylai's Avatar
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    Quote Originally Posted by Senorita View Post
    A plan is something we don't have to joke with. No matter how difficult it is, a good plan will help traders do what should give them a great chance to earn. Having a great plan can give us the possible means to handle this trade properly with the best chance to keep earning. We have to stay consistent with winning and have a good plan that will give us the procedure to build the best trade we can follow.
    Nothing in this business can be included as a joke, whatsoever. traders are working hard each and everyday, they even spend their weekends just to learn how to get better and they're willingly to sacrifice their valuable time to become a better trader. such passion in this business will soon prove our hard work be paid accordingly soon. i'd rather spend my time to build my consistency in demo account first than using my money to trade for real market and lose it.

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  4. #223
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    Quote Originally Posted by Rylai View Post
    Nothing in this business can be included as a joke, whatsoever. traders are working hard each and everyday, they even spend their weekends just to learn how to get better and they're willingly to sacrifice their valuable time to become a better trader. such passion in this business will soon prove our hard work be paid accordingly soon. i'd rather spend my time to build my consistency in demo account first than using my money to trade for real market and lose it.
    The way we take things seriously and then learn it, that will determine how far we can go, if we ain't taking the use of money and risk management planning and also how we take our trades seriously, it will affect the results we get when we trade, to be consistent ain't something to be learned easily, takes a whole lot of time and practice.

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  5. #224
    Trader ola4real'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.
    What I will like to contribute to what you have said is that such traders will need to have their forex system. Forex system will do things correctly for traders, it is gotten through experience of that forex trader, that is why it will work fine for that trader. We can trade well if we give our time to learning, that is what I know that could build the working system and plan for traders in whom forex traders can rely on for their daily income. making.

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  6. #225
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    Quote Originally Posted by ola4real View Post
    What I will like to contribute to what you have said is that such traders will need to have their forex system. Forex system will do things correctly for traders, it is gotten through experience of that forex trader, that is why it will work fine for that trader. We can trade well if we give our time to learning, that is what I know that could build the working system and plan for traders in whom forex traders can rely on for their daily income. making.
    if we give time to learning we can learn it easily but make sure you have good demo account practice, if we do not have demo account practice our trade can not be into profit on real also, when we lose on demo we learn we take that practice on real later,so use demo and make experience if you have done this you can survive and can earn something good easily

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  7. #226
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    Good plans is something we shouldn't miss because if we can plan on how this business works we can have an opportunity to make profits from forex. Plans are surely needed in forex because if we can have a plan we can surely have means to build a proper trade that will lead us to our goals. If we can manage risk and know how to deal with it, it will help us to build a system we can consistently earn from. A good plan will make this things work out and it will be good we always plan for such.

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  8. #227
    Trader ola4real's Avatar
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    Quote Originally Posted by naeem555 View Post
    if we give time to learning we can learn it easily but make sure you have good demo account practice, if we do not have demo account practice our trade can not be into profit on real also, when we lose on demo we learn we take that practice on real later,so use demo and make experience if you have done this you can survive and can earn something good easily
    Given time to learning is not what is unusual among the traders of forex market, but this does not still stop some traders not to lose or trade with consistent winning system. What I suggest about this is for forex traders to work with the creation of their working forex system and have the best plan possible with it. If the trader is disciplined and have the needed system who is good, consistent winning will be happening.

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  9. #228
    Trader Toyen's Avatar
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    Quote Originally Posted by Rylai View Post
    Nothing in this business can be included as a joke, whatsoever. traders are working hard each and everyday, they even spend their weekends just to learn how to get better and they're willingly to sacrifice their valuable time to become a better trader. such passion in this business will soon prove our hard work be paid accordingly soon. i'd rather spend my time to build my consistency in demo account first than using my money to trade for real market and lose it.
    I believe that it is about what the trader knows, when traders do not trade rightly, the trader will be a joker, and will lose. Trading the market with the certainty of the use of the right trading system is the first step towards the trading nicely by traders. We can make consistent winning and have good plans when we have experience, that is what is most valuable that the demo could likewise provide for us.

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  10. #229
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    when any trades faces some losses he may think for some time to find that the mistake may be in his own strategy so he has to think of changing it or editing it , so the trust in your own way can lead to this consistency . for many reasons i may think of the manner I can trade longer times using one plan or one strategy is to find that it is very good and profitable for longer times .

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  11. #230
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    Quote Originally Posted by Abu George View Post
    when any trades faces some losses he may think for some time to find that the mistake may be in his own strategy so he has to think of changing it or editing it , so the trust in your own way can lead to this consistency . for many reasons i may think of the manner I can trade longer times using one plan or one strategy is to find that it is very good and profitable for longer times .
    consistently earning is possible just with hard work and proper experience if we have it we can earn if we do not have this then we can not think to earn, so learn it and do trade as much as you can, any strategy can be better if we learn it fully, actually our plan tell us what to do and how to do, if we do not have plan we can not understand what is good or what is bad, so i recommend to always make some plan

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