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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. #591
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    I think everyone in this market trading with their own plan but everyone can't go according to their plan because in this business it is taught to follow the rules. Discipline trading is very important in this business but we can't trade with discipline. That's why we lose money and get the margin call. So the plane is important.

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  3. #592
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    I consider that the plan is the most important way, which must possess in our work in the forex market. This is because the plan is what draws us to walk through it in order to reach a profit. Not imagine that anyone can rely on blind style in order to reach a profit in a market loss is the easiest thing to get it

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  4. #593
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    Commitment to a specific trading plan is fully committed and capital management is the keys to success, many traps in the market like candle tails and breach of the liar and all affect the psychology of the trader and make him hasten to enter the transaction and find himself a private loser if he does not use a stop loss.

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  5. #594
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    Having a trading plan and completely following it is one of the main reason behind success of our ideal traders. Sadly i do not have a trading plan, i use different strategy in each trade. I make a plan for a market and when trade does not go well i get confuse my mind starts changing. I almost never use stop loss but tp is there all the time. I need a trading plan very badly if i want to become a good trader.

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  6. #595
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    have a plan and have the ability to implement them with well will give us good chances to stay as trader who can determine the position in this business, where we understand to trade with good decision and also how to protect ourselves besides think to develop and grow bigger
    forex trading is a marathon, and we need much time till we can reach the goals, and a part of this is about the plan and we can implement them with well

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  7. #596
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    The only way that will make you stick to your plan and apply it in detail is when you see your balance carry out and fly in the air and sit tight and the sense of failure surrounds you from everywhere. , And the sadness and feeling of failure will increase when you see ideal opportunities that are formed and applied to all the conditions of your trading plan, but you can not do anything and sit helpless and see opportunities lost one by one

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  8. #597
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    i have trading plan, trading plan look like compass, we need compass for get profit. we must have realistic plan, and do not greedy. i think if we learn the forex market properly then there is no chance to loss the money in the forex market if we just follow the market trend and read the forecast on daily basis then we can earn lot of money

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  9. #598
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    [lang=de]Yes I am. Its hard to make profit from trading without making trading plan. Trading plan is very important. Do not trade without having plan. Plan will make everything easy. Plan means half done of any work. So please trade by making plan and yes do not forget to test your trading strategy in demo. In demo if you get positive result then use it in real trading account.[/lang]

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  10. #599
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    Quote Originally Posted by ngalapreceh View Post
    i have trading plan, trading plan look like compass, we need compass for get profit. we must have realistic plan, and do not greedy. i think if we learn the forex market properly then there is no chance to loss the money in the forex market if we just follow the market trend and read the forecast on daily basis then we can earn lot of money
    You are actually right about that. If we can always follow our trading plan and not to depart from it then we will have a good result. It leads us to success and most of all a trader following his or her plans don't get too emotional because they have the ways of trading all planned out.

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  11. #600
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    Quote Originally Posted by cozard007 View Post
    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.

    trading plan is very important. there you can map a chart and then make an entry / exit parameter based on the strategy you are using. compliance with the trading plan is important. and don't forget, make a trading plan A, B and C. This is in anticipation if one of the plans does not work as you expect. I myself before entering the market, I made a trading plan first. This is so that I am confident in my decisions and make me more confident when entering the market.

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