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Thread: Are you trading your plan?

  1. #1
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    Are you trading your plan?

    It is true that there are over 95% traders losing their money in the market, and I could tell you precisely that not all of them are actually a bad trader. Most of them have good trading strategies and skills. But still, they fail in the market. It is mainly about how traders are trying to utilize the plans they have in the market, and how effective the plans are; that will bring success to such traders.

    Do having plan is a means of success?: Yes, I could say it times without number, having plans is the means of success in the market, but the issue is that, there are many traders that have plans, but they are not actualizing this plan in the market. When they are off the trading chart, they tend to have a balanced trading psychology and prepare the plans, but when they are with the trading chart, the actual movement of the market makes them forget the pans they have.

    How do I fight this?:The only way you could fight this is by having a good trading plan and be sure that this plan is a working one.
    *Then try to have a balanced trading psychology and determination about this without deviation.

    *You should be disciplined and never deviate from the trading plans you have. It is true that you will lose in the market, but when you lose, take it as a pride and manage the account further to avoid much losses in the future.

    *Avoid trading with emotion, and never risk more than what is in the plan, and exit accordingly too.

    If these statement above could be done satisfactorily, forex traders will have a better results. The main problem with traders is that they have good trading plans, but emotion and anxieties does not let them apply this plan to their trading advantage Successfully.

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  2. #21
    Trader Hukam's Avatar
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    Our trading plan help us to do trade with a proper co ordination in forex you are very true here our trading plan help us to make a good set of trading rules which help later use to make good profit from the market we can't depend upon one trading rule here we have to use all important rules in trading and only our trading plan help us in this case

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  3. #22
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    Quote Originally Posted by forexlearner View Post
    Proper trading plan use is the key of success in this business. Most of trader's don't have any trading plan in this business that's why they mostly loose money in forex. But its because of less knowledge also all new trader's not able to understand about the importance of their trading plan in forex
    I think so. Proper trading plan is important thing in forex because if there is proper trading plan and we could follow it well then it's no need to worry about profit and loss matter because it has been managed well. If we lost, we won't lose more than we could afford to take and if the analysis was right so the profit can be maximized. Good trading plan can help traders to realize consistency on profit.

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  4. #23
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    after pass some time. months or years trader will get some experiences which will make them understand to build a good plan. then it is necessaty for them to spend the time for learning and practicing.
    they will not know how to do it before get some experiences as the sources of knowledge.

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  5. #24
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    Yes that's a very good point because we can't achieve all forex trading knowledge in one day so its our duty to spend daily some time on our learning only then we can become a very good trader in our future. It can take many year's to build a good trading system for us. But after that for change our life for sure

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  6. #25
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    its really important to manage the plan and trade with that and the more we will be trading according to our plan the more we can be sure that we are in the right path. and the plan is like the half of the task and the profit will be sure then. thank you.

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  7. #26
    Trader rinaji's Avatar
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    Quote Originally Posted by cozard007 View Post
    Do having plan is a means of success?: Yes, I could say it times without number, having plans is the means of success in the market, but the issue is that, there are many traders that have plans, but they are not actualizing this plan in the market. When they are off the trading chart, they tend to have a balanced trading psychology and prepare the plans, but when they are with the trading chart, the actual movement of the market makes them forget the pans they have.
    Also it depend on how good our trading plan is, having a plans is not the means of success in the market, having a good plans in the means of success in the market. Overall I agree with you, this is true. Just trade our plan, this may be difficult for traders who are still difficult to apply discipline in their trading plan, but everything will be fine in accordance with the psychological quality improvement.

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    If you lose, be patient. If you win, stay humble

  8. #27
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    I really don't give much importance in trading plan. For me what is important is that we have good knowledge of fundamental and technical analysis. Because no matter what is your plan if you don't know how to do analysis you will not going to become a successful trader. So its very important that we do know how to do analysis and every thing will follow.

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  9. #28
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    I am Trading the plans of the traders is the only sure ticket to success in forex trading. There are many of them that wants to get success in the trading, but they do not trade their plans, what will bring the success if not a good plan? That is why traders should be very careful in trading, and always coordinate yourself.

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  10. #29
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    @forexlearner, plans alone can not make a success in a trader. What will make the success in the market is the combination of good trading strategy, management and plan. It is not a single thing that will bring success to the trader. They work collectively, but the plans will be the one that will tailor your success to actualization.

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  11. #30
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    Forex is business.
    So definitely every business you have to make plan.
    Well experienced person who know all about Forex and its trading system easily can make trade here and can make huge sum of profit.

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