Building a wining trading plan - Page 51
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  1. #1
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    Building a wining trading plan

    An old billionaire saying that "Fail to plan and you plan to fail"It mean only those trader who are working proper in market with passion will always get good market understanding and it will help them to build a good trade system .Those trader who got success in market will tell you very clearly that you can either methodically follow a written plan , or failed .
    A trader will get success from market only when we have complete investment plan because all based on preparation ,your success won't come immediately ,but at least you are in a position to chart and modify your course , by documenting the process you learn whaat works and how to avoid repeating costly mistake .

    Here are essential recommendation to build a master trade plan

    Skill assissment
    First of all trader must think he is able to make a trade and what system he will used , what he develop and what kind of skill is an important weapon to work and on behalf we can perform ,Here is a battle of give and take who have skill assessment will get success .
    Mental preparation
    How's a trader feel? did he get a good night sleep if a trader is not emotionally and psychologically ready to do battle in the market , it is better to take the day off otherwise your riks losing money is increase , so we always do our work with constant state of mind and take challenges with cool mind .
    Set risk level
    How much risk of investment a trader will take it is depend on trader style and risk tolerance capacity it can be ranged any where upto 10% in single trade Its mean when your risk target is complete you just take rest and go away from market .
    Set goal
    Our target must have based on realistic basis according to the risk and reward ratio , what is the minimum risk or reward you will accept , many trader will not take a trade unless the potential profit is at least three time greater then your risk .
    Do your home work
    Before the market open , check what is going on around the work , mean learn about the effect of dollar and all other fundamental which effect price on same time we have to get knowledge about the technical level and all breakout so we face minimum risk
    Trade preparation
    whatever trading system and program used , label major and minor support and resistance level set alerts for entry and exit signals and make sure all signals can be easily seen or detected with a clear visual signal .
    Set exit rules
    Most traders make the mistake of concentrating 90% or more of their efforts in looking for buy signals, but pay very little attention to when and where to exit.many trader do not sell if they are down because they don't want to take a loss , get over it or you will not make it as a trader , if your stop get hit it means you were wrong , take it professionally and make sure our emotion does not disturbed .
    Set entry targets
    Entry decision is very simple we take after little analysis we are able to make fresh trade but we do make a good trade only if our entry is on right time we take own decision making skill at the time of enter in market and exit from market and more importantly exit signal .
    Make record all trade
    we have to record all of our close trading because that will be very important and will give trader advantages for making solid trade plan we have to work with better trade strategies we are using , the advantage of record is in future trade we solve our previous problems always .

    Conclusion :If a trader is working with good ideas and with written strategy and with full record so that will always give us confidence we take better decision in trading there is no guarantee for earning 100% from market , they earning chances is more based on our skill of winging and losing and important factor is decision making in all of our trade .make up your mind develop strategies use best risk management with good skill of decision making our trade will get success and we do our work with fully confidence .

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  2. #501
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    Quote Originally Posted by Krosneles View Post
    Trader must have trading plan everyday and know what he will do in different scenarios. Trading plan lets to trade automatically and scenario will help to know what to do if market starts to go against the trader. Trading without plan means that trader can sit all day long against computer and do nothing because he does not know where to enter.
    I am agree with you ,With planing we will know better about which working methods are good and build it means we will lead a trade with profits and if we are here without planing that means we will not doing the right thing and whole trade day we are wasting so we need to make a plan and follow it for making a trade to be very perfect and accurae .

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  3. #502
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    I thanks you sir , this is the best and main step of the trading before starting . every traders makes some rules of the trading and follow the rules , without a proper planning we cannot become a good trader in the forex. we work with fully patient to achieve over goal in the business. forex is just like money making machine . we plan every thing before starting any trading.

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  4. #503
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    Quote Originally Posted by tejaravi View Post
    I am agree with you ,With planing we will know better about which working methods are good and build it means we will lead a trade with profits and if we are here without planing that means we will not doing the right thing and whole trade day we are wasting so we need to make a plan and follow it for making a trade to be very perfect and accurae .
    Planning are very important toward success on this business with good earning and we can only make successful trading strategy plans when we can take a lot of experience and good knowledge about it and when start our trade in market then in short time frame period easily getting a lot of good profit and control loss from stock market.

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  5. #504
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    We no that it's important to make some good trading plans and work according to those plans before it will be possible for us to trade and achieve success, without trading plans we cannot survive in this trade because we are not working for a good reason, but when we work according to plans that's a good reason for us to achieve success in this market quickly.

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  6. #505
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    well sir , without proper planning we cannot do any thing . when we plain some thing then it required patient of work . every one want to success in our mission . we plain the best way of earning . the best planning increase the ability of the working . about my knowledge we only earn money by proper planning.

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  7. #506
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    Getting very prepared in this business to build a winning plan will work for us as long as we are ready to give our all in forex. Good learning is very important and any trader that wants to survive must take learning seriously and must look over on the chance to build a profitable system for themselves in forex. A winning plan must be made and to enhance profits, we must learn to plan always. Planning will result to great ability to earn and we can likewise have the best approach to make sure we can follow the right trade.

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  8. #507
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    Your trading plan will come our so simple once you have been able to have given to the market the most important learning as needed, more like. You should never be in a hurry with the market. Learn from the demo account and then have a good trading strategy. Once you have been able to have that done. I think you can then have a meaningful planning that will sync with your strategy.

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  9. #508
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    Quote Originally Posted by tejaravi View Post
    I am agree with you ,With planing we will know better about which working methods are good and build it means we will lead a trade with profits and if we are here without planing that means we will not doing the right thing and whole trade day we are wasting so we need to make a plan and follow it for making a trade to be very perfect and accurae .
    good ideas about trading will give you confidence to take best decision in trading as the chances to gain profitable trades is based on our own skills and learning and the best method to get success is to be increase your learning at daily basis and develop a strong strategy that can give you more probability in winning trades than failure and risk management is the first factor that can make success possible for you.

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  10. #509
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    For making a plan and making a trade strategy these two are the key factors which undergoing the bets change in our trade career and with the power of good skills and our planning we will get unlimited opportunities for earning and we will definitely wins success if our plan is good and we are too good by follow it and earn from it .

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  11. #510
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    A plan helps a strategy and a strategy helps a plan, that is the way it should be seen, so it means that all traders has to believe in that concept and then should be able to have a good simple plan and as well as having a good simple trading strategy, it shouldn't be complex but should be simple and realistic plans.

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