Have a plan and stick to it

The trading plan is convenient because it does not allow emotions to take over.

Following your trading plan is a must.
But crucial word is also YOUR.
Someone else trading plan could be of no use for you.

Changing plans rapidly can be a great problem for you in the trading. So try to stick in one plan to make money from this market.

Yea, that’s the whole deal with a plan. You gotta stick to it.

Shelby10 posted:
Yes. A proper plan can make you rich in this market.

existe alguam corretora que voces usam pra investir em açoes e titulos por cotas no EU ? ou UE ? , sou do brasil e queria começar a investir em dolares no exterior me recomendam alguma coisa ?

To make a good trading plan we need to know our strength and weakness. A trading plan should be based on strength. Most people ignore their weakness and try to trade in all kind of situation. It's not good.

Due to trading psychology, many fail to do that.

Akasuki posted:
To make a good trading plan we need to know our strength and weakness. A trading plan should be based on strength. Most people ignore their weakness and try to trade in all kind of situation. It's not good.

That’s true. Many people fail to recognize where they lack. All this stems from a false sense of pride which blinds them. To have the perfect trading plan is impossible but ignoring your weaknesses will lead to a blunder.

It’s hard to succeed in trading without a strict plan. Without it your trading will become chaotic unpredictable gambling and you will be in the hands of your luck. Would you like to count on its windy mercy?

Yes, it is imperative to have a set trading plan if you aim to survive long in this field. Setting a trading plan helps in offering a vision that helps in maintaining consistency during highs and lows of this journey. Also, it leads to decisions that are backed by rationale and well-researched strategies.

Auginn posted:
It’s hard to succeed in trading without a strict plan. Without it your trading will become chaotic unpredictable gambling and you will be in the hands of your luck. Would you like to count on its windy mercy?

Yes it is a windy mercy, as no one knows when he'll drown and blow his account. Also, luck does not always work everytime.

Understanding if a system works well or not requires a decent dataset to cut out anomalous results and periods of positive and negative variance. You have to stick to a plan to gain this dataset. There are no shortcuts.

Would agree, just allow yourself to slightly deviate if needed

Well, that’s a necessity. You might think that you will move as per the market. But it won’t be that easy when there are so many things going on in the market. It’s best to analyse the market properly and build a plan that you want to follow.

chrish9070 posted:
Money management is the greatest tool of all for new traders

#forex #trading #pips #markets #finance Do you want to learn to trade all types of markets with proper money management, risk reward trades and excellent monthly returns? Then check out this below.....

Just thought Id write an email after last weeks trading to see if people can cope and manage their losing trades correctly.

Do you have a set risk reward setup, calculate your trades correctly so you not always just entering at 0.1, 0.5 or 1.0 or whatever size you trade. Do you calculate the size of your account and work out what lot size you should be trading based on your stop loss, risk amount and account balance. If your not then you really should be. People ask for a win/loss ratio on trades and this really does not matter or have any influence on how much money/percentage return you make each month and year. You can actually lose almost 60% of your trades and still make an excellent return each and every month. So I just want to remind all you traders, make sure you have a plan and stick to it DO NOT deviate from this. Working this way means as you have a few losing trades your risking a % of your lower account balance each time, and as the winners come and the account grows your risking a % of the larger account and this is what allows it to grow.

So stop thinking about how many losing trades you have, simply make sure that your risk reward is correct and if you can get anything above 50/50 then you will guarantee to make money and a good living if you can do this consistently.

Next I want to look over a couple of charts that you may want to look at yourselves and also show the kind of thing we look at every time in our webinars to plan our next few trades in the week ahead. Also dont just enter a trade because price has hit a certain area, get some confirmation of price action 1st, this will save you entering and guessing of just anticipation, this is not trading but simply gambling if no predetermined risk.

EUR/USD https://clip2net.com/s/3wJvUc1 weekly view

AUD/USD https://clip2net.com/s/3wJxgvT daily view

GBP/USD https://clip2net.com/s/3wJzf7p daily view

GBP/AUD https://clip2net.com/s/3wJBe2e daily view

Do you look this deeply into your trades before entering them? Do you then calculate your risk reward ratio? Then calculate what size you should be trading on your account size and what risk you should risk on each trade? If you are not doing these things then your going to get swallowed up in the forex world and find it very tough to make money trading these highly volatile markets.

If this is something you would be interested in, not going for 20-30 or 40% a month, but trading exactly how money managers and funds trade looking for great reward trades and making 4-10% a month (10% on good months - not often) so achieving apprx 50-60% a year entering trades 10-15 minutes a day then we can offer that.

Wish you all a Happy Trading week and should you have any questions please email or skype me with the details below :-


Regards

Little John

Exactly, I have a fixed trading strategy in my live trading (Price Action)! But I used more than 35 trading strategies in my demo! There is no way to experiment in my live account with my real money!

Your plan may or may not work in the market. But if you have one, you will surely perform better than you would have without a trading plan. At least, your emotions won’t be a decision-maker.

No no no. You should never just stick to a plan because 'you should stick to a plan'. Only stick to a plan if it is working. If it does not work, find out why and then make a new plan

Imo, sticking to a trading plan is more difficult than creating one. For easier trading, traders should stick to their plan. A good trading plan ensures that traders take the right approach to trading and avoid distractions.

I am quite sure that you already know that a good trading decision will help you make money while the bad ones will cost you money. It’s best to do what you understand and can handle for a long time. With a trading plan, you will know what to do and when to do it. Moreover, you get to stay away from decisions that are a result of your emotions that eventually cost you a lot of money.