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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. #11
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    Quote Originally Posted by mehwishraheel View Post
    I would like to give you my frankly opinion regarding this matter, I know that forex trading is not as much easy as people think about it, that's why I will tell you the truth about myself, I sometimes follow my trading plan and sometimes not, this is because of sudden change in the market movement upon data release or any kind of fluctuation, so if the market is not moving according to my analysis and plan then it is better to change the plan rather than keep doing whatever your plan has.
    Our plan should be good enough to guide us what to do when it goes wrong. We cannot expect the market to move as we want it to but instead we have to work according to its movement. When the trades go wrong we should either have plan B or wait for our stop loss to hit or even close the trade then and there.

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  3. #12
    Trader cowek ireng's Avatar
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    Quote Originally Posted by PROPENSITY100 View Post
    Our plan should be good enough to guide us what to do when it goes wrong. We cannot expect the market to move as we want it to but instead we have to work according to its movement. When the trades go wrong we should either have plan B or wait for our stop loss to hit or even close the trade then and there.
    Yes i think so , therefore I am always try to setting an effective plan before start my real trading in risk forex market. Its really important for make a good progress in this business , as we know plan make a work going directionally .

    Besides system in trading plan , I also include about money management in my trading plan cause proper money management is most effective way for keep balance safely that can make a more survive for long and in finally can be achieve our goal with that plan.

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  4. #13
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    There have been many times when i have traded in the forex market with trading plan and i have also deviated from my trading plan only to incur losses. Thus, now i have determined that i will stick to my trading plan which certainly can fetch me good gains on long run. Thus, discipline while trading pays off for all the strong minded traders.

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  5. #14
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    Quote Originally Posted by cozard007 View Post
    *Avoid trading with emotion, and never risk more than what is in the plan, and exit accordingly too.
    very important to trade with clear mind, and we can get them with only do trading without let the emotion stay in mind, need to make sure that we are not under the emotion before enter the market and during in the market, but it is not easy, because the emotion will come up easily in every situation,

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  6. #15
    Trader Hukam's Avatar
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    Its very important to do trade with proper trading plan if we have no plan in our mind and we are doing trading by ignoring forex trading rules then very soon it will give us a very harmful result in trading I always follow a good trading plan and I want to suggest everyone to never ignore your trading plan and keep your mind fresh all the time in trading

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  7. #16
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    I ma trying to work in the right way in the market, the manner that will help the trader to have good result. No matter what you are doing, you will need a god trading plan, these plans will help you more if you have the activities that will make it help you, the strength of activities is right system of trading.

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  8. #17
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    We have to always follow a good trading system, which will give us good profit in average its very important to follow a good trading plan. No matter we are a short term trader or long term trader a good trading plan can help us to gain good profit weekly or monthly from forex. Only a good trading system will keep us happy in our life

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  9. #18
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    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

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  10. #19
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    Basically, many forex traders are losing because of this, they will not trade their plans in the market, and this is very and, if you trade your plans, you will understand the truth about the market trading and follows the principles you want to use in getting the truth. In this, the truth is the goal you aim to achieve.

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  11. #20
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    Quote Originally Posted by Khimi234 View Post
    We have to always follow a good trading system, which will give us good profit in average its very important to follow a good trading plan. No matter we are a short term trader or long term trader a good trading plan can help us to gain good profit weekly or monthly from forex. Only a good trading system will keep us happy in our life
    That is very correct, a good trading system is needed to have the good results by the trader doing it. In the real risk trading, I believe that trading means doing what is making you to know the right trading direction. But the planning make its amends and coordination for you, this is what I see to be the difference ma.

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