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Kusumo234

how important is a trading plan for you forex traders

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as we all know, that forex trading is a trading instrument that can be done online

 although it looks easy, but to get consistent profits is not as easy as it seems,

therefore a trader must have a tested strategy and trading system along with the rule rules that must be implemented before making a sell or buy option, so in your opinion, how important is this trading plan ???

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Trading plan is important before someone can be successful in trading, it is a means of discipline and to lessen emotions. We make plans so we can know the appropriate time to do quality trading with quality mind set.

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31 minutes ago, Digicoin said:

Trading plan is important before someone can be successful in trading, it is a means of discipline and to lessen emotions. We make plans so we can know the appropriate time to do quality trading with quality mind set.

Thank you for sharing your opinion, we really need to have a guidebook to carry out trading activities, so that we don't get lost or have road accidents with a guidebook,therefore we can distinguish which is a green light and which is a red light

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1 minute ago, Kusumo234 said:

Thank you for sharing your opinion, we really need to have a guidebook to carry out trading activities, so that we don't get lost or have road accidents with a guidebook,therefore we can distinguish which is a green light and which is a red light

Sure. We need more information about trading. I prefer crypto trading to forex and I am making it in crypto. So, I use exchangers to trade and using yobit currently. 

This forum and reading crypto news is my guild and I have make few dollars in less than two months on yobit trading platform. 

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Capable of measuring your performance, identifying problems and making corrections. A trading plan helps to avoid a lot of psychological problems. The number of bad trades will be reduced by a trade plan strictly adhering to. A trade plan will help to prevent the hot weather from irrational behaviour.

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1 hour ago, Digicoin said:

Sure. We need more information about trading. I prefer crypto trading to forex and I am making it in crypto. So, I use exchangers to trade and using yobit currently. 

This forum and reading crypto news is my guild and I have make few dollars in less than two months on yobit trading platform. 

If you feel that bitcoin or cryptocurrency trading is more profitable, friend, I rarely make cryptocurrency trading, maybe once in a while I make cryptocurrency for my hodl, and even if it suits my trading plan, so in short, my trading plan is actually not only applicable to  forex, but also cryptocurrency.

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Trading plan is a most important thing.Because you have to find a way before entering in it.If we have find the exist then we can march in the building(Trading).So have plan is best way of success.if yo don't have it ,its gonna be heavy loss of yours.


Kindly give Like if you like my Opinion.

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Posted (edited)

Because I am tired of having to do an analysis every time I do an op, so I can say that the analysis is only done when we don't have a trading plan, and after having a trading plan, we only need to wait for the price according to our plan to trade.thanks

Edited by Kusumo234

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As a forex trader plan is so much important to make profit in it because if you are a trader then yo need to analyse the market first and then yo make trade n that because without analysing you make loss in the crypto market and also you will loss you money to put wrong trade.


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I don't think a trading plan can be provided by our trading teacher, but with guidance from a mentor will make it easier for us to solve the problems we face as novice traders,so in my opinion, the trading plan is a scripture that we formulated ourselves, and we must obey the book.

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I think that trading plan is too much essential for the any trader's because traders made their own plans for the stop loss of their funds in any exchange.

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One of the key role for making and being successful in forex is the forex plan.Accordimg to this you gonna plan all of your money.And you decide about the predicton.If you see rhe past and will see the future price your predicions will be seventy percent correct.

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A plan helps you maintain discipline as a trader it should help you trade consistently manage your emotions and even help to improve your trading strategy it is also important to use your plan many people make the mistake  of spending all their time creating a plan then never implementing it 

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@Marwan alaoui The purpose of making trading plans does have many functions that are summarized in a plan, it is a wise way for us to manage trading accounts, why trading plans are so important, because without planing, traders will find it difficult to get out and enter the market.

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On 1/8/2020 at 11:43 AM, Digicoin said:

Trading plan is important before someone can be successful in trading, it is a means of discipline and to lessen emotions. We make plans so we can know the appropriate time to do quality trading with quality mind set.

Emotional peoples are not going to be a great trader because in emotion you just loss your money not to earn the money in the forex market my one friend will loss almost 10,000$ in just 1 month because he is in tension and make a big lot and after some time his account is washed totally.


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2 hours ago, khan22 said:

Emotional peoples are not going to be a great trader because in emotion you just loss your money not to earn the money in the forex market my one friend will loss almost 10,000$ in just 1 month because he is in tension and make a big lot and after some time his account is washed totally.

If we have a trading plan, we don't need to use emotions in trading my friends, there are even traders who rarely analyze and only look for momentum that matches the trading plan, that's what distinguishes newbie traders from masters, and I still need a lot to learn from you

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A strategy helps you keep your company focus. It should help you keep trading, control your emotions and even develop your trade strategy. Your plan should also be used. Many people make the error of spending their whole time building a plan and never carrying it out.

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@shayekh indeed we need a strategy in a business, and that is the need for a trading plan, we no longer need to spend our precious time just sitting quietly in front of a laptop, but we only need to enter and exit the market according to schedule, and trading with that plan is more convenient for  done.

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3 minutes ago, Hridoy ahmed said:

Hello In my opinion do not think that a trading plan can be provided by our trading teacher, but with the guidance of a consultant it will be easier for us to solve the problems we face as a prophet trader, so in my opinion, a trading plan is such  The scriptures that we have created,Itshould help you keep trading, control your emotions and even develop your trade strategy. Your plan should also be used,

A good view, when we walk using a map the chances of us getting lost are definitely smaller than we walk without a map, indeed we cannot possibly use a trading plan made by other traders, even if it's our trading teacher,

 Because it is certain that every individual has a different style, that is why everyone's trading results are different, even though the understanding is shared

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On 1/8/2020 at 11:43 AM, Digicoin said:

Trading plan is important before someone can be successful in trading, it is a means of discipline and to lessen emotions. We make plans so we can know the appropriate time to do quality trading with quality mind set.

Before trading i analyse the market than i make a plan that how much market will move just on a single side than i put the trade in the market because these are the important steps in which we can make good money and in forex trading money management is the most important thing.


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When a trader has found the right trading plan, then the profit potential is consistent not only in dreams, indeed at first it will be difficult to find the right formula for preparing a trading plan, because in the plan there are rules and conditions before making a transaction on the forex market, that's  why, I consider that having a trading plan is very important.

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On 1/8/2020 at 12:23 PM, Digicoin said:

Sure. We need more information about trading. I prefer crypto trading to forex and I am making it in crypto. So, I use exchangers to trade and using yobit currently. 

This forum and reading crypto news is my guild and I have make few dollars in less than two months on yobit trading platform. 

The cryptotalk forum is so much important for us because through this forum i learn so much about the crypto whihc i don,t know and also i make good money and now i am investing this money again in the coins because investment is so much important in the crypto market to make huge profit.


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In a trading plan, of course, contains a lot of things, including a trading system and also a money management calculation, but the point is to use planing, we don't need to do excessive analysis, just trade based on the plan, and if you don't find a market situation that matches the trading plan, then it doesn't  need to trade first.

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Trading plan is very important for forex trading for me and the more details we make the trading plan the easier we make decisions in trade. Analaisis, potention and risk everything would be on my trading plan . One step for all it trading plan for me. 

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1 hour ago, Yanadia said:

Trading plan is very important for forex trading for me and the more details we make the trading plan the easier we make decisions in trade. Analaisis, potention and risk everything would be on my trading plan . One step for all it trading plan for me. 

For us forex traders it is important to pay attention to factors that might occur after we open a transaction entry, therefore, we need to have a trading plan,and with a trading plan, we will know when to enter and exit the market, whether profit or loss, with a plan we can be more comfortable in releasing entries

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