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New trader trying to put a trading plan together

LeviSievwright5
Sep 10 2020 at 01:44
298帖子
A trading plan is very important to make a profit consistently. Never achieve success without a plan. After a good analysis you need to know where to set stop loss and profit level, what percentage of risk you are taking for a trade, how to manage 1: 2 risk-reward, how to manage the trade after opening the trade. The trading plan is analyzing all these things.

radioactive
Sep 10 2020 at 05:33
47帖子
It is always good idea to set a trading plan. It can be done via backtesting and trying out various buttons in demo account. Just take into consideration of many variables, like risk management, money management, and many more.

kkkkk_1
Sep 11 2020 at 09:42
28帖子
ParticipantLAD posted:
Hey Walpants, Good on you for asking this question as it's a foundation must of trading.

You first want to focus on your timetable, What obligations do you have currently? Job? Children? Morgage?. As this will decide how much time you can place into your chart to left click your strike rates.

Second, What is your strategy?. What are your rules?. Can you confirm that it has a frequency that will deliver consistency. This will create your income.

Third, From the first when you turn off your charts you turn off the mode of thinking about your positions. Providing you have rules and the confidence to see your positions through as trading is a job at the end of the day and must be respected as one.

Think about these first.

ParticipantLAD.



hello sir.
thank you for advices. it really makes me to think about my future trading plan.

ElliotCooke
Dec 17 2020 at 11:58
341帖子
new traders always try to make money quickly from this market. This is a very bad habit. Most traders lost their money because of their impatience nature.

EbonyJones
Dec 17 2020 at 13:47
232帖子
ElliotCooke posted:
new traders always try to make money quickly from this market. This is a very bad habit. Most traders lost their money because of their impatience nature.

Yes. I agree with you. Most traders make this mistake in their trading.

Hrenz
Feb 03 at 07:57
38帖子
In no case should you write off in trade, this will lead to losses and disappointments.

KnowFinance
Feb 15 at 12:27
82帖子
New traders often become impatient, they need to realise that nobody gains profits overnight. Trading requires wait, consistent practice and a good trading plan in place, only then success comes easy.

Joz8
Feb 17 at 05:17
102帖子
I agree with @KnowFinance Traders get no success on easy terms, it takes hard work and a lot of patience to become a consistent earner here.

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