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Thread: Building a wining trading plan

  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. #41
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    Hello sir, thanks for sharing your precious knowledge with us your all points are very necessary to become a successful trader. From all of these. I like one thing that we have need to record our data which we are doing trade on daily basis and compare that where we do mistake which become the cause of our loss. It will help us to improve our trading career and try to avoid past mistakes.

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  3. #42
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    This is very good thread about how to build a good trade plan and how we made successful trade strategies here , if we gather all of our data from market wining and losing so that will help trader to find mistake we made and with simple practice and by learning there are more advantages we have for successful trading and for good profit always .

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  4. #43
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    If we want to accomplished ur dreams of success then wwe must be serious with our trade and also about the related systems that works for this purpose so before making use a trade system we should put or attention o the wining plan and make it by self with use of own abilities and working skills so if this is without any inaccuracy then we will clear the way of success for earning throughout or career.

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  5. #44
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    Quote Originally Posted by alizahid View Post
    If we want to accomplished ur dreams of success then wwe must be serious with our trade and also about the related systems that works for this purpose so before making use a trade system we should put or attention o the wining plan and make it by self with use of own abilities and working skills so if this is without any inaccuracy then we will clear the way of success for earning throughout or career.
    I agree for trader it is very important that we must be serious in trading and with more foucsed on movement and by different mean there are lot of advantage we have to perform our trade better , we must have to chose the best trade system and by learning in right direction we always get better trade understanding for work properly .

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  6. #45
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    Quote Originally Posted by alizahid View Post
    If we want to accomplished ur dreams of success then wwe must be serious with our trade and also about the related systems that works for this purpose so before making use a trade system we should put or attention o the wining plan and make it by self with use of own abilities and working skills so if this is without any inaccuracy then we will clear the way of success for earning throughout or career.
    You are right , a winning plan is also a basic thing without have nay planning we will not be confirmed about our success ,so this is very important for us to work on a bets trade plan and then occupy a bets trade strategy that is valuable for our success so winning a profitable trade is not juts depend on the strategy we must also focus on the plans and good managing skills.

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  7. #46
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    Beautiful is the only way i can describe this thread because it is able to touch some great fundamental aspects of the forex market . One of the point that interest me most among all that you have mentioned here for planning a good trading system is "MENTAL SKILL" Every forex trader must be mentally sound and alert most time because of the nature of the market we are trading. Mental laziness is not a good attribute for any forex trader because as far as i know , the forex market is more of a mental business that strength.

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  8. #47
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    This is the very beginning of any trading, if the traders can get to win on his trading plans the chances for such trader to win is very high but the main the thing that the plans should contain is a very clear set goals and the process of acquiring that goal.

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  9. #48
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    To build a winning management plan we have need to focus on our trading strategy that how we can improve it. Most of traders are comes in market without having a proper trading strategy that,s why they are not able to achieve success in the market and go out from the market in short period of time.

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  10. #49
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    Quote Originally Posted by letsdo View Post
    To build a winning management plan we have need to focus on our trading strategy that how we can improve it. Most of traders are comes in market without having a proper trading strategy that,s why they are not able to achieve success in the market and go out from the market in short period of time.
    A plan and good understanding about our working system are the most probable things that are helpfully play important role for excellent trade results so if we are good to manage the trade and follow the pan and all the instructions then we will automatically give strengthen to the trade method and we will approach on success definitely.

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  11. #50
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    A winning trading plan is not done through laziness, we should be realistic, your trading plan has to be done through discipline, some of the issues we have in the forex business is not that we don't plan, it's just the discipline to implement whatever we have written down that is the problem, mental preparation and risks assessment are the most important things that I see in preparation.

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