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Have a plan and stick to it

davemack
Apr 20 at 05:43
78 posts
It is important to stick to your plan. Without a solid trading plan, you're far more likely to get caught up in the hype of the market. When you're able to get a firm grip on your goals and plan of action, it's far easier to stay focused and make realistic decisions as you're trading. If your plan has been proven to work, then you'll have a higher chance of making decisions based on your plan rather than reacting to the market.
Akasuki
Apr 20 at 07:31
562 posts

Of course, it’s very important to follow my trading strategy so keenly! But the problem is, which traders are trading with a low trading skill, they lose their confident so early! That’s why when they face consistent SL’s! Then, they change their game plan immediately!
HeavenLeighGill (HeavLeighGill26)
Apr 24 at 15:08
328 posts
I think having a plan, only risking a certain percentage of your account, using a SL, etc. are all extremely important for success.
tobeygomez
Apr 27 at 07:35
33 posts
The importance of a trading plan in forex cannot be emphasised. It simply helps you in holding trading discipline, trading consistently, managing your emotions, and even improving your trading strategy.

Crotchet
Apr 28 at 07:18
24 posts
Yes. but it is absolutely necessary in trading to craft a plan and follow it. I follow trend trading strategies and it has worked for me so far.
Charlespeterson
May 02 at 09:06
18 posts
Imo, no matter how good your trading strategy or your risk management strategy is, if you do not have a trading plan or you don’t stick to it, you’ll eventually fail.
Jamesmaculm
May 04 at 07:25
16 posts
Yes, sticking to your plan consistently is very important for trading. However, the market is very unpredictable and volatile and you cannot predict the market accurately, so you also have to be versatile and you must make changes in your plans whenever necessary.
paulajen
Sep 03 at 07:10
8 posts
Having a plan is essential, but sticking to it is the most important yet attainable goal.


Fx_keeth
Sep 05 at 11:55
42 posts
When it comes to trading, it is important to stick to your plan. Before trading, always study and plan. Sticking to a plan can assist a trader in developing discipline.
tyson_learner
Sep 06 at 05:56
39 posts
Planning a strategy is easy but sticking to it all time (in both high earnings and low earnings) is important and quite challenging too as this is one of the essential things to do wonders in your trading.

Juggerrnaut
Sep 08 at 11:45
5 posts
There is not a single trader in the world who would argue against the benefits of having a trading plan and adhering to it strictly. It is also a necessary component in the process of building a successful career in trading.
lauraJohnson
Sep 09 at 06:17
34 posts
Making a plan is simple, but sticking to it over time is difficult, and this is what really counts.

Vermilion1
Sep 09 at 10:29
16 posts
While it’s easy to get distracted, it’s even tougher for newbies who see money in their eyes, to balance their moves and stay on track. They often waver towards quick minting and lose all their capital. It is unfortunate that they still don’t tend to learn from mistakes and repeat the same process again. Creating a plan, sticking to it shows how organised and disciplined you are as a trader towards earning that profit returns you’re working so hard to receive.
KAnthony
Sep 09 at 15:33
39 posts
i don't really understand how it works. as far as i understand main thing is that your winnings exceed your losses. seems to be easy to say. but more difficult in practice.
Nomocracy
Sep 14 at 11:14
20 posts
Yes, if one can plan better, can reduce his risk potential in forex trading. A well-planned strategy can increase the chances of your victory.
Sightworthy
Sep 14 at 11:42
16 posts
It is necessary to stick to the initial plan with which you enter the market, yes but traders need to keep an open mind and understand the different aspects that could affect market conditions causing loss. The approach and mindset with which traders make moves needs to be adaptable and they should revise their plan as and when they need to.
Jacnum
Sep 14 at 12:05
18 posts
Sticking to the plan is necessary when trading. There are many distractions in the market and it can get difficult to understand what works and doesn’t. Learn the sentiment and psychology behind applying knowledge behind every move. Follow your own path and reach your goal by staying disciplined. Those who fail to stick to their own plan end up with an empty account.
henrytrade
Sep 16 at 09:58
51 posts
Proper planning of your trades should be done ahead of time, and you should always try to stick to your plan.
Snorkel
Sep 20 at 07:51
17 posts
I think sticking to your plan is important but you should also be flexible enough to make some changes to your plan as and when needed. Because the forex market is ever changing and we must plan our moves based on the market condition. If things are not going as per our plan we should be well prepared with a backup plan to deal with the situation.
Kenny45
Sep 23 at 11:58
11 posts
Snorkel posted:
I think sticking to your plan is important but you should also be flexible enough to make some changes to your plan as and when needed. Because the forex market is ever changing and we must plan our moves based on the market condition. If things are not going as per our plan we should be well prepared with a backup plan to deal with the situation.

Well said! A trader needs to be flexible to change their plan as per the market conditions. So I always keep a backup plan as well.
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