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To make a good trading plan

sailingconsist
Mar 10 at 12:44
33 Posts
leahmclaughlin posted:
cardigan posted:
But what constitute a good trading plan?

 A trading plan must include how a trader will find and execute trades. It must also be clear in what conditions they will buy and sell securities, the position size they will take, and other rules like when to trade and when not to. As simple as that!

Along with all this, risk management and money management should also be a part of a trader’s plan.

LyudmilLukanov
Mar 10 at 15:00
588 Posts
Demo account is the best place to make a trading plan. Plan is important to make consistent profit.

leahmclaughlin
Mar 11 at 10:22
20 Posts
sailingconsist posted:
leahmclaughlin posted:
cardigan posted:
But what constitute a good trading plan?

 A trading plan must include how a trader will find and execute trades. It must also be clear in what conditions they will buy and sell securities, the position size they will take, and other rules like when to trade and when not to. As simple as that!

Along with all this, risk management and money management should also be a part of a trader’s plan.

100% true! From skill assessment and mental preparation to setting goals and trade preparation, there are so many things that you will have to consider when building a winning trading plan.

SofieAndreasen
Mar 11 at 11:55
614 Posts
The trading plan should consist of proper risk and money management strategies in the trading market.

Mohammadi
Mar 13 at 05:47
886 Posts
most of the time i losses during news , may be its my lack of fundamental knowledge, actually without real powerful fundamental knowledge there is no way to bring profit during news at all.

Tremblay
Mar 13 at 18:26
330 Posts
Where there is a 95% chance of making a profit, it can never be a gamble. There is no possibility of gambling. It is possible to make a profit by gaining proper knowledge in forex trading. Forex is not gambling, trading is done by analysis here. It is possible to maintain the risk with stop loss after analysis.

Mohammadi
Mar 14 at 06:46
886 Posts
I have seen many expert consider scalping as a risky strategy. I am not willing to consider scalping as a risk for the newcomers, if the newcomers want to get maximal result by scalping with certainly they have to make sure first of all the currency pair which has lowest trading spreads, otherwise it can be a great risky

WaltonCharles
Aug 23 at 08:39
128 Posts
Mohammadi posted:
I have seen many expert consider scalping as a risky strategy. I am not willing to consider scalping as a risk for the newcomers, if the newcomers want to get maximal result by scalping with certainly they have to make sure first of all the currency pair which has lowest trading spreads, otherwise it can be a great risky

Yes. Scalping is a very risky method.

Marcel Durham (MarcellusLux)
Aug 24 at 17:39
88 Posts
I do not understand what is meant when you say weakness. Are these errors in the trading system or lack of any knowledge? We need to figure out what these weaknesses can be connected with, because it is impossible to ignore them.
You can build your trading using only your strengths, but be prepared for the market to exploit all your weaknesses tomorrow.

LukeRachel
Aug 25 at 01:06
330 Posts
Of course, lessons should be learned from mistakes to strengthen weaknesses. If I make the same mistake again and again, I will not get a good profit by trading.

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