Consistency for your trading plan - Page 3
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Thread: Consistency for your trading plan

  1. #21
    Quote Originally Posted by ola4real View Post
    It may look simple to begin to make regular income in the forex field but it is not easy in the actual sense, traders may lose everything in the time they are planning to make it big and consistently. I think that we should look for a good trading pattern with high level of management and discipline, that may be the solution to consistent earning.
    In theory or by the looks about trading forex market, everything seems easy to do and profits are easily achieved. In fact the efforts to do that are hard to understand and difficult to do because market could change our psychology easily and will change us from a calm person into angry ones just in one swing of wrong trading direction. Consistency in trading is a myth for traders who do not want to learn from their mistakes and kill their bad habits.

  2. #22
    Quote Originally Posted by Azis Muslim View Post
    In theory or by the looks about trading forex market, everything seems easy to do and profits are easily achieved. In fact the efforts to do that are hard to understand and difficult to do because market could change our psychology easily and will change us from a calm person into angry ones just in one swing of wrong trading direction. Consistency in trading is a myth for traders who do not want to learn from their mistakes and kill their bad habits.
    You are right, it will look so easy when traders are dreaming about the market or they are still freshers. But in the real work of trading, the market trading is never easy, and we have to get ready for it with all our efforts. Even at times, some traders will get weary, and quit, but i don't support that. The market is always risk, yet, there are good approaches to trade it well, that is what we should go for, and be earning with ease.

  3. #23
    Consistency in trading to the best of my own knowledge can be defined as , make pips , keep pips and repeat the process. Though that really sounds so simple but the bulk of work lies heavily on the trader himself . No matter how good a trading strategy might be , it is the trader that makes it work so , being consistent of a trading strategy begins with a trader. A trader needs ti be smart in recognizing when the market is trending and when it is moving sideways , this is necessary because the strategy that works well in a trending market might perform so woefully in a sideways market

  4. #24
    Quote Originally Posted by ajagbeolegba View Post
    You are right, it will look so easy when traders are dreaming about the market or they are still freshers. But in the real work of trading, the market trading is never easy, and we have to get ready for it with all our efforts. Even at times, some traders will get weary, and quit, but i don't support that. The market is always risk, yet, there are good approaches to trade it well, that is what we should go for, and be earning with ease.
    You are very true , Buts The fact is that the main enemy in applying the consistency for the trading plan is our self, be it from attitude or mental that is still so bad when facing with the chart and want profit more and more. Because anyhow in the trader there is a greedy character and also has the ambition that when doing wrong analysis trader try as much as possible in order not to loss in any way even willing to wait for the order placed for profit even a little.

    And when traders want to admit mistakes and accept losses there will be plenty of opportunities that are wide open in order to gain another profit so the best way in consistency for trading plan is to set the target realistically and put a stop loss correctly and finally the ambition, revenge and greedy attitude can all be minimized
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  5. #25
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    Maintaining the level of consistency is good and for this trade we should understand the need to plan on this trade and make good needs to improve in forex. More means to earn from forex is very important and if we can learn about this business, the more chances we can earn from this trade. Good planning is helpful and hence we plan on this trade, we can have all the means to realize forex. Good plans can really help us make a good trade and if we decide to work on the ability to trade good, it will come as a result of successful plans.

  6. #26
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    This is very good plan that if one trading strategy is not work then choose the other trading strategy which is work fine for traders and this is really helpful for us because if we are use one strategy which accuracy is not high we will never get success on forex but if we are changed our trading strategy and choose a powerful trading strategy then our success is easily possible.

  7. #27
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    Quote Originally Posted by biru View Post
    This is very good plan that if one trading strategy is not work then choose the other trading strategy which is work fine for traders and this is really helpful for us because if we are use one strategy which accuracy is not high we will never get success on forex but if we are changed our trading strategy and choose a powerful trading strategy then our success is easily possible.
    That is where a lot of traders goes wrong and also make mistakes. Because when you have a trading plan, one has to stick to it for as long as possible. Due to when the trader is still new with any trading method they want to trade with, that would make them loss their money. You keep on switching plans and then you will keep on doing that for a long time, but being focused with one plan will increase our chances of being profitable with it in the future.


  8. #28
    Quote Originally Posted by biru View Post
    This is very good plan that if one trading strategy is not work then choose the other trading strategy which is work fine for traders and this is really helpful for us because if we are use one strategy which accuracy is not high we will never get success on forex but if we are changed our trading strategy and choose a powerful trading strategy then our success is easily possible.
    It is during our learning times that we can be changing the our forex strategies, but when we have passed the learning stages, we supposed to have good strategy which we can have our full trust with. It is the strategy that will be planned with other good things which makes us to have our desired forex results. It will not be easy to get this, it will take much time.

  9. #29
    Quote Originally Posted by Brain View Post
    That is where a lot of traders goes wrong and also make mistakes. Because when you have a trading plan, one has to stick to it for as long as possible. Due to when the trader is still new with any trading method they want to trade with, that would make them loss their money. You keep on switching plans and then you will keep on doing that for a long time, but being focused with one plan will increase our chances of being profitable with it in the future.
    A trading plan is not what traders have to toy with, it is the same thing as the rule of trading of that traders. If traders dare to alter their trading plans, then the account of the trader might be finished through losses. Traders may have many trading systems, it does not matter, built our trading plan has to be consistent for us to earn consistently as well.

  10. #30
    I believe on keeping things simple, I make sure that I don't have unrealistic plans and expectation from the market. So therefore my plans is to always take nothing above 3 percent risk and then in addition, I should make sure that I am always following my 1:2 risk to reward, which means that if I should open any trades in the market it is either it gets to SL or TP, I hardly manually close my trades.

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