Topic: Do you stick to your trading plans - page 5. (Read 657 times)
trading alt coins is such stress and sometimes you trade according to your own plans, but even though you have plan and analyzing graphs you tend to break those plans if the price of a coin is dumping or pumping. panicking is the one sometimes destroy your strategy in trading.
I don't trade a lot these days because I see that every single time, the market's fluctuation is higher than before. I'm sticking to my plan and that is to hold.
The no brainer strategy that has been so effective for everyone who doesn't like to trade at all from time to time. No need to exert that much effort into it yet very profitable.
The no brainer strategy that has been so effective for everyone who doesn't like to trade at all from time to time. No need to exert that much effort into it yet very profitable.
being disciplined and determined is the only thing that can make a trader stick to his plans. anyone who has really traded knows its not as easy as it sounds. having several loses can make you quit. the loses can have a physcological effect that will make you think nothing will work. so having in mind that loses is inevitable, learning from every trade is also vital. all this coupled together will make you stick to your trading plans , test run it for a while and evaluate it. then make changes if there is need and keep doing it untill you get it right.
not all trading systems or plans work for all occasions. when those traders say the trend is your friend, always follow the trend. it's not about greedyness and emotion but it's about making money. when something is about to bubble because of popular individuals like Elon Musk and Mark Cuban tweeting about dogecoin, buy doge!! there is a reason why they are trying this coin to trend.
So, in effect, the strategies need to be somewhat flexible in order to work with the above scenario (which has happened). But if deviation from main plan is not for you, this is also fine.
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Or you just allow your greed and emotions play out during your trades.
If I do this, I just put myself to lose easily. Of course, not and it should be controlled. 
Making profits but end up loosing out every thing because of greed and high expectations .
While others looked at this as a negative thing, did you know that, for every loss, a trader is building a good experience?
Without those losses on the way, we can never think of a good strategy. Even professionals or so-called best-of-the-best traders are losing until now. It's a part of the game. What matters here is, for every loss, there's a lesson.
Trade comfortably is the key. Don't pressure yourself to win as it will destroy your focus.
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Or you just allow your greed and emotions play out during your trades.
If I do this, I just put myself to lose easily. Of course, not and it should be controlled. And talking about stick according to the plan? That is very important otherwise, you go elsewhere. The plan serves as our guide, strategies could be changed depending on the situation but our goal should be to stay the same. This is apparently a big challenge in trading but if we keep our emotions being controlled, that couldn't be hard to do it unless, if you are guilty that your plan is not achievable IRL.
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Well I am very bad trading or short term trading. All my crypto strategy is about HODL, it always worked for me and its very simple also. "Buy when everyone fears to buy and sell when everyone greedy to buy", if you stick with it you will never loose.
The habit of all crypto strategy to be hodl is the believe of naive crypto currency traders because the major strategy of crypto is choosing the right coin, sound entry/exit point and stop lost strategy.This is the reason why some people believe crypto trading to be gambling because the positive result is never promised.
Well I am very bad trading or short term trading. All my crypto strategy is about HODL, it always worked for me and its very simple also. "Buy when everyone fears to buy and sell when everyone greedy to buy", if you stick with it you will never loose.
I am trying to stick to my trading plans. But sometimes, I am facing difficulty controlling the greediness, especially when I see the price can jump higher and I thought that could give me a bigger profit. It is hard to always stick to our trading plans because that will need an effort to manage our emotions in trading constantly.
I am sure every trader has that experience to see their greediness become bigger. But it will be back to the trader itself, how they can manage their emotion so they can always stick to their trading plans.
At first, we will stick to our trading plan but when the market changes, the plan will change seeing the situation and also our thoughts in changing patterns, to be honest when an increase occurs then greed will inevitably occur and vice versa if a downward panic occurs unless your plan is determined to be But leave it for a long time before you become aware of your trading plan.I am sure every trader has that experience to see their greediness become bigger. But it will be back to the trader itself, how they can manage their emotion so they can always stick to their trading plans.
On the other hand, I think it is very difficult unless we can hold back in any situation, remember moments like there are very many changes from the plan even though we often see the portfolio increase so that is the power to sell for profit.
And this is Dayu can not withstand the plans that have been set.
As much as I want to stick on my plans, circumstances hinder sometimes. I often don't read news about crypto but when I do, I am late and everyone in my port has already dropped. Though the original plan is to "buy low, sell high", sometimes it becomes "buy high but you can sell in a little bit lower" just so I can buy when it goes even dipper.
It maybe depends on the price movement of the coin sometimes we need to change a plan if there is an issue with regards to the coin that we trade, greediness is also one of the problem,some trader are really greedy and they forget thier plan and strategy because of greediness, we need not to be greedy to avoid losing in trading, and the only thing to control greed is to learn some good strategy and never forget that trading involves money and you can maybe loss a big amount if you are too greedy on the trading field.
I would say they should stick to the plans irrespective of bullish trend or the other way because the goal of trader and investor is the same but they do have a difference in time period. So don't allow your greed to take over the strategies and also stop loss can be a really useful feature for a trader.
I don't think there reasons like power failure and internet access can be a reason for someone's loss because everyone does have their smartphones they can simply execute what they wanted even in emergency situations.
I don't think there reasons like power failure and internet access can be a reason for someone's loss because everyone does have their smartphones they can simply execute what they wanted even in emergency situations.
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I am trying to stick to my trading plans. But sometimes, I am facing difficulty controlling the greediness, especially when I see the price can jump higher and I thought that could give me a bigger profit. It is hard to always stick to our trading plans because that will need an effort to manage our emotions in trading constantly.
I am sure every trader has that experience to see their greediness become bigger. But it will be back to the trader itself, how they can manage their emotion so they can always stick to their trading plans.
I am sure every trader has that experience to see their greediness become bigger. But it will be back to the trader itself, how they can manage their emotion so they can always stick to their trading plans.
Every true trader has a target he/she wishes to hit a day for day/week depending on the kind of trader such person is. Some loves day trading while others enjoys holding position for a longer period of time. Irrespective of the kind of trader you are do you stick to your trading plan? Or you just allow your greed and emotions play out during your trades. Trading entalils lots of dicipline and without dicipline even a professional analyst would fall prey to the market. Making profits but end up loosing out every thing because of greed and high expectations .
Yes, I HODL, and I believe it’s the easiest “strategy” to do for a pleb like me who knows he can’t beat this “Zero Sum game” called trading.
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In as much as trading isn't gambling
There are some strategies, and the amount of leverage used by some “traders” IS actually gambling.
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we can only trade according to the trend and make profit from it and as well withdraw once we get a reversal signal that the present trend is coming to an end. Most often traders neglet using stoploss the just allow their trade retrace the way it likes but the tend to forget different factors might play out during their trades like:
- 1 power failure for developing countries
- 2 lack of internet access
- 3 Intraday activities
Those problems only concerns the high-frequency day-trader.
Depends on the market situation but moving your position because of too much emotion is not good, so avoid this kind of transactions at all or else you'll burn your portfolio by yourself.
Sticking with your trading plan is fine as long as the market trend is in favor to you, either you're a long term or short term trader it is still advisable to monitor your holdings. I don't agree with the power interruption, mobile phone will works and most exchanges have their own Apps that enables you to trade where ever you are at any time.
Sticking with your trading plan is fine as long as the market trend is in favor to you, either you're a long term or short term trader it is still advisable to monitor your holdings. I don't agree with the power interruption, mobile phone will works and most exchanges have their own Apps that enables you to trade where ever you are at any time.
not all trading systems or plans work for all occasions. when those traders say the trend is your friend, always follow the trend. it's not about greedyness and emotion but it's about making money. when something is about to bubble because of popular individuals like Elon Musk and Mark Cuban tweeting about dogecoin, buy doge!! there is a reason why they are trying this coin to trend.
Im not good in trading but i have plans to stick with when it comes such thing, wherein although sometimes i didn't follow my routine often when i see a possibility to gain profits in other coins. But still it's my priority because for me its the most important since it gave me smooth profits despite of the situation in the market. And also because of lack of Internet access and enough time to put into it sometimes i prefer to hold and its a fine decision for me..
Power Failure? Most trading sites have mobile apps that can run on your smartphone and the smartphone runs on a battery so you have some backup time to make a last trade before having to stop using electricity. However for a pro trader, power backup options are important too. Most of them spend some money to set up an inverter and battery pack.
Internet ban? A very radical move, that would be for a country to make. In such a situation, essential needs and survival becomes more important than trading. Temporary internet outage, needs a backup internet connection, again your phone's sim has one which can help here.
Intraday activities - not exactly sure what you mean by that, because the term is more applicable to stock market as the day does not end for crypto, it runs 24x7. Still day trading is done for crypto by specific people. But how does that change the plans?
Internet ban? A very radical move, that would be for a country to make. In such a situation, essential needs and survival becomes more important than trading. Temporary internet outage, needs a backup internet connection, again your phone's sim has one which can help here.
Intraday activities - not exactly sure what you mean by that, because the term is more applicable to stock market as the day does not end for crypto, it runs 24x7. Still day trading is done for crypto by specific people. But how does that change the plans?
Every true trader has a target he/she wishes to hit a day for day/week depending on the kind of trader such person is. Some loves day trading while others enjoys holding position for a longer period of time. Irrespective of the kind of trader you are do you stick to your trading plan? Or you just allow your greed and emotions play out during your trades.
I do follow my trading plans most of the time but honestly, I tend to change my plan because it should be flexible since the market changes from time to time and if you're a short to medium term trader, you must closely monitor the market.Most often traders neglet using stoploss the just allow their trade retrace the way it likes but the tend to forget different factors might play out during their trades like:
Stoploss should be included on your trading plans/strategies because it can prevent you from losing money even if you are a long term hodler. Power interruption should not limit you from trading, you can still use your phone and a powerbank to charge your phone is enough for you to execute your trade. If internet connection is not stable in your place, then better not to trade daily. - 1 power failure for developing countries
- 2 lack of internet access
- 3 Intraday activities
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