Have a plan and stick to it

Apr 10, 2016 at 18:42
Przeglądane 3,880
78 Replies
Uczestnik z Mar 11, 2022   22 postów
Mar 24, 2022 at 08:14
You never know how the market will move in the next moment. You can’t even control the performance of your trades. But with a trading plan, you can be prepared for all that can happen.
Uczestnik z Mar 11, 2022   51 postów
Mar 25, 2022 at 05:38
For traders, making a plan is easy, but it is difficult to follow one. Breaking your own trading rules is irresistible when you begin trading. However, it should be avoided because it will not make you profitable.
Uczestnik z Mar 21, 2022   47 postów
Mar 29, 2022 at 08:08
Distracting from your trading plan is probably the biggest mistake that you will ever make. The market is so lucrative that you will want to take advantage of all its moves. But your trading plan will tell you which ones are worth taking risks with and which ones you should avoid.
Uczestnik z Mar 22, 2022   25 postów
Mar 31, 2022 at 07:42
Your trading plan doesn’t only show you the road in the market but also makes trading easier for you. As your trading decisions are solely based on your market analysis, you are able to manage risks and money properly.
Uczestnik z Mar 23, 2022   26 postów
Apr 05, 2022 at 06:19
Trading plan provides the ability to the traders to monitor the performance and refine the approach.
Uczestnik z Feb 07, 2022   24 postów
Apr 12, 2022 at 10:26
Sticking to the plan is tough but not impossible. And no matter what, in the end, we all have to follow our plan.
Uczestnik z Mar 24, 2022   56 postów
Apr 15, 2022 at 05:52
Sticking to a good plan is something that can benefit new traders as well as experienced traders. However, you should be flexible and open to make any changes in your strategy so that you don’t get stuck with a strategy that does not optimise your profits. So start with a good plan and make sure that you have a plan b in case your strategy isn’t working in your favour. But be patient, and don’t jump from one strategy to another without giving it time to work.
Uczestnik z Feb 20, 2021   78 postów
Apr 20, 2022 at 05:43
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.
Uczestnik z Mar 28, 2021   617 postów
Apr 20, 2022 at 07:31

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!
Uczestnik z Aug 05, 2021   401 postów
Apr 24, 2022 at 15:08
I think having a plan, only risking a certain percentage of your account, using a SL, etc. are all extremely important for success.
Uczestnik z Apr 14, 2022   37 postów
Apr 27, 2022 at 07:35
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.

Uczestnik z Apr 14, 2022   24 postów
Apr 28, 2022 at 07:18
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.
Uczestnik z Oct 27, 2020   18 postów
May 02, 2022 at 09:06
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.
Uczestnik z Oct 27, 2020   16 postów
May 04, 2022 at 07:25
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.
Uczestnik z Sep 02, 2022   15 postów
Sep 03, 2022 at 07:10
Having a plan is essential, but sticking to it is the most important yet attainable goal.

Uczestnik z Aug 17, 2022   45 postów
Sep 05, 2022 at 11:55
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.
Uczestnik z Aug 17, 2022   39 postów
Sep 06, 2022 at 05:56
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.

Uczestnik z Sep 21, 2022   11 postów
Sep 23, 2022 at 11:58
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.
Uczestnik z Sep 02, 2022   75 postów
Sep 26, 2022 at 09:55
Yes, satisfaction of work is important but this satisfaction comes when a trader can derive good amount of profit from the market. But you have make sure one thing that you are satisfied with the amount you are earning. Otherwise, you won’t find satisfaction even if you earn millions of dollar.
Uczestnik z Sep 21, 2022   6 postów
Sep 27, 2022 at 06:00
Whether you are learning or trading, you can’t achieve your goals without a plan. Therefore, before taking risks, plan everything. A good planner knows when to enter a trade and exit a trader. This comes with practice. Hence, do not avoid demo trading.
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