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To make a good trading plan

no_frame
Aug 25 at 10:11
18 Posts
Formulating the proper strategy can leads to good trading plan, so it is always useful to experiment and get better in your trading journey. Another useful tips is to take into risk and money management.

Marcel Durham (MarcellusLux)
Aug 25 at 10:17
88 Posts
LukeRachel posted:
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.

Unfortunately, not everyone who lost understands this and does not even try to look for their mistakes, thinking that the market is to blame for everything bad in the world

forextrader777
Aug 25 at 10:59
84 Posts
MarcellusLux posted:
LukeRachel posted:
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.

Unfortunately, not everyone who lost understands this and does not even try to look for their mistakes, thinking that the market is to blame for everything bad in the world

Sadly, I have so many times that the one who made the mistakes are the one who never accepted it. Rather, they blamed it on someone else. I just truly hope they realized it is perfectly normal to make a mistake and you can always grow it.

LukeRachel
Aug 26 at 02:13
326 Posts
MarcellusLux posted:
LukeRachel posted:
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.

Unfortunately, not everyone who lost understands this and does not even try to look for their mistakes, thinking that the market is to blame for everything bad in the world

The trader needs a plan to be successful. If there is a lack of a plan, it is very difficult to succeed.

bridgekarate
Aug 26 at 10:23
6 Posts
Why bother wasting time on a plan especially if you are a newbie. That time is better spent learning and demo a trading. A newbie is probably going to write a bad plan anyway

UweMoench
Aug 28 at 15:34
589 Posts
@bridgekarate Yes newbie should spend time on developing knowledge and trading skills. Planning is a later part of trading.

LukeRachel
Aug 29 at 01:37
326 Posts
bridgekarate posted:
Why bother wasting time on a plan especially if you are a newbie. That time is better spent learning and demo a trading. A newbie is probably going to write a bad plan anyway

Exactly, first, you have to learn trading then you have to think of a plan.

Williamfreed
Aug 30 at 02:10
43 Posts
If you have a good plan and strategy you will find trading easier.

deanetellez
Aug 30 at 05:00
5 Posts
The only difference between a successful and unsuccessful trader is that one has a plan and the other does not. I once read somewhere that “Trading without a plan is nothing less than gambling” and I completely agree with it. A well-thought trading plan ensures a successful trade and it even helps you learn better through a demo account.

SteveHanks
Aug 30 at 08:40
370 Posts
Williamfreed posted:
If you have a good plan and strategy you will find trading easier.

A good plan can make you rich in this market.

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