Because when I see the trading chart that is needed to trade, I will do it immediately, as if it can be done at any time, it depends on each one of us. I do this as a part-time source of income.
Now, when I get a good handle on it, that's when I'll decide to do it full-time, it's just that simple to do as an individual community in this industry.
Topic: How Visible is your trading plan (Read 392 times)
The plan in trading in general is a rather imaginary thing. It should be understood that you need to be universal, but at the same time, the main task of the plan, in fact, is to understand in general what you should look at while working.
Whether it's imaginary or not, the most important thing is how to implement a trading plan in real trading. Because the trading plan must be in accordance with the current market conditions. We have to look at the available data in order to have a good trading plan. If there is no good data source then no trading plan can be applied.
The trading plan is only limited to carrying out several plans that will be carried out when trading, but it will not be fully used when the market is not what we expect. There must be a backup plan. In the trading plan, there are several management that must be done to support the trading plan to be successful.
I do not need to have my trading plan (strategies) written anywhere when I have it within myself, gotten from experience. I do not write anything down about trading learning process, I know what to avoid, I know what to do, I know how to risk little, I know indicators can fail etc.
This is the result of having a good knowledge about trading, you can understand the trend and act accordingly based on your target plan and based on your strategy. Writing done you strategies might be a big help but to some its hassle so they created their strategy like this. Though I believe monitoring your transactions are still ideal, personally I have my track record of my trades and it motivates me to be more productive. maybe you can jot down your major strategies but i can understand that most will trade on the spot based on their acquired skills and experience. which is also true for me. with so many things that we need to write down, we prefer to use our stored knowledge to act on certain situation.
I do not need to have my trading plan (strategies) written anywhere when I have it within myself, gotten from experience. I do not write anything down about trading learning process, I know what to avoid, I know what to do, I know how to risk little, I know indicators can fail etc.
This is the result of having a good knowledge about trading, you can understand the trend and act accordingly based on your target plan and based on your strategy. Writing done you strategies might be a big help but to some its hassle so they created their strategy like this. Though I believe monitoring your transactions are still ideal, personally I have my track record of my trades and it motivates me to be more productive. 
Now a days every single person wants to trade and multiply their revenue but at starts everyone passess through difficulties. Some people win and some people loss their hopes and leave cryptocurrency trading. A person can be a profitable trader if he first judge the trading marketplace then try to understand all the information which are related to the trading.
If a person wants to overcome the loss percentage then setting of stop loss can help to reduce the percentage of losing revenue. Some real crypto groups provide signals if a person follow these signals then the percentage of winning income can also be increased. But first get information about the group, it admin and participants if they are not scam then surely follow these signals.
Always focus on price prediction and do not get rid of your coin at lower price just wait until the price goes up once more.
If a person wants to overcome the loss percentage then setting of stop loss can help to reduce the percentage of losing revenue. Some real crypto groups provide signals if a person follow these signals then the percentage of winning income can also be increased. But first get information about the group, it admin and participants if they are not scam then surely follow these signals.
Always focus on price prediction and do not get rid of your coin at lower price just wait until the price goes up once more.
Actually in all fileds specific steps are necessary to achieve certain aims and goals. Traders needs to adopt specific strategies but a single strategy never work all the times. Some people do trading but have zero knowledge about trading so I think that realize about the rules and regulations then take part in trading.
A person should plan that which amount of cash should be invested but the lower amount should be used for the Initiation of trading so the benefit will be that if unfortunately the price decreases so there will be less loss.
A person should always be careful when he trades, active mind also aids to get the profitable results.
A person should plan that which amount of cash should be invested but the lower amount should be used for the Initiation of trading so the benefit will be that if unfortunately the price decreases so there will be less loss.
A person should always be careful when he trades, active mind also aids to get the profitable results.
I do not need to have my trading plan (strategies) written anywhere when I have it within myself, gotten from experience. I do not write anything down about trading learning process, I know what to avoid, I know what to do, I know how to risk little, I know indicators can fail etc.
Do you know that to be good teacher you most have a qualified Note of lesson, so it's applicable to someone that have the record or strategies of trading in it's documents and especially the risk condition or measure that is involve. so it's important to have a record of trading steps it's should Incase of reference or remembrance purpose, so it's needful that to have the necessary steps of making well through trading as a working documents. Having notes on trading plan is probably not what I need, and so far I haven't. Trading is an attempt to make a profit that should not be planned or written down in note, you may be able to take advantage of the market situation to make a profit, that is for something that is not written down.
It surprises me a little bit to see so many comments against the idea of documenting your strategy and even your trades, when it is such a basic thing to do when it comes to learning.1. Keeping you in check and on track
2. It helps you to get confidence in your analysis when right and the opposite when wrong.
3. It serves historical purposes on what to expect. Perhaps the platforms used in trading might have some data to this regard but, your pre analysis before it actually plays out is more valuable and builds confidence.
4. It defines the level of risk your taking repaired to take in the market.
5. It also prevents you from unnecessary loses by not being too greedy in the market.
Having a trading plan documented is a good step for me.
It depends on the individual surely but, whatever goes is the way to go.
Having notes on trading plan is probably not what I need, and so far I haven't. Trading is an attempt to make a profit that should not be planned or written down in note, you may be able to take advantage of the market situation to make a profit, that is for something that is not written down.
So far I'm not planning trade, but I'm planning an investment which has been in good progress so far. My portfolio is expected to continue to grow over time and I'm starting to focus on becoming long term holder. I tend to think about how I can get extra money to accumulate assets, this is much more important to me than planning trades by writing notes.
It surprises me a little bit to see so many comments against the idea of documenting your strategy and even your trades, when it is such a basic thing to do when it comes to learning.So far I'm not planning trade, but I'm planning an investment which has been in good progress so far. My portfolio is expected to continue to grow over time and I'm starting to focus on becoming long term holder. I tend to think about how I can get extra money to accumulate assets, this is much more important to me than planning trades by writing notes.
In fact the whole idea of documenting the events which have already happened is to not forget them and to have a precise idea of what happened as a way to avoid making the same mistakes again and again, and this is not only true with trading but with everything else, as it is why we keep record of the major events around the world so we can avoid the negative ones and it is the reason scientists keep detailed records of their experiments as a way to demonstrate their theories.
Having notes on trading plan is probably not what I need, and so far I haven't. Trading is an attempt to make a profit that should not be planned or written down in note, you may be able to take advantage of the market situation to make a profit, that is for something that is not written down.
So far I'm not planning trade, but I'm planning an investment which has been in good progress so far. My portfolio is expected to continue to grow over time and I'm starting to focus on becoming long term holder. I tend to think about how I can get extra money to accumulate assets, this is much more important to me than planning trades by writing notes.
So far I'm not planning trade, but I'm planning an investment which has been in good progress so far. My portfolio is expected to continue to grow over time and I'm starting to focus on becoming long term holder. I tend to think about how I can get extra money to accumulate assets, this is much more important to me than planning trades by writing notes.
Interesting thought but never thought about anything like this. I mean who writes a plan about the trading if it is based on practical approach and it is always changing and lively with the time? I could not think about any plan or something which I could build as solid way to make a trade. That's just impossible since everyday I wake up and see the graph, the candles would go very far from the flag line, the market would be unreal by that time and what I might have imagined as my next step. I think I would love to trade just normally with the market situation and after studying it thoroughly.
As standard practice it's always good to learn the trading patterns, which can give us ideas about the market in TA. Well, I think I can print those patterns and have them on my sticky board, but having a whole plot about our next move in the trading seems little off track for me.
If you cannot describe your strategy with words can you really say you have a trading strategy? Not everything can be done by instinct, you need to have some sort of way to determine the size of each one of your trades, your stop loss, the leverage you will use, if you use any, how long you will keep that position open and many other factors which are indispensable to become a profitable trader, if this cannot be put in writing form then I find it difficult to believe such trader will become profitable As standard practice it's always good to learn the trading patterns, which can give us ideas about the market in TA. Well, I think I can print those patterns and have them on my sticky board, but having a whole plot about our next move in the trading seems little off track for me.
Interesting thought but never thought about anything like this. I mean who writes a plan about the trading if it is based on practical approach and it is always changing and lively with the time? I could not think about any plan or something which I could build as solid way to make a trade. That's just impossible since everyday I wake up and see the graph, the candles would go very far from the flag line, the market would be unreal by that time and what I might have imagined as my next step. I think I would love to trade just normally with the market situation and after studying it thoroughly.
As standard practice it's always good to learn the trading patterns, which can give us ideas about the market in TA. Well, I think I can print those patterns and have them on my sticky board, but having a whole plot about our next move in the trading seems little off track for me.
As standard practice it's always good to learn the trading patterns, which can give us ideas about the market in TA. Well, I think I can print those patterns and have them on my sticky board, but having a whole plot about our next move in the trading seems little off track for me.
Trading plan is one thing that cannot be neglected and for better result it best when it is visible. It is the vision a trader runs with. If a trader fails to plan such trader eventually plans to fail. When the heat of the market sets in we often forget our plans and trade from what ever our instinct suggests.
Pro traders never deviate from their trading plans which shows the power of experience. People who still listen to instinct, should trade only in demo environment or should trade with least enough capital to gain that "experiences". Setting up a plan is easier but bring up results out of those plans is harder than anything else; so, if you find yourself unable to stick within your own plans, then I guess that must be the right point to quit trading.Another option for those who never accept quitting as a right solution, hodling. We cannot have this alternate in most other markets but bitcoin spot trading provides such a wonderful thing.
Execute your trading plans; if results are not in your favour then become a BTC hodler. Peace
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I always trade from my mind and I make sure that I have the right mindset which focuses on making the right decisions in trading to make a good profit. I don't aim to get rich quickly but my goal is to trade successfully.
Trading plans will be nothing if we can't follow all the right steps to trade wisely. We also need to learn continuously for us to reach the target goal that we want. From choosing the potential coin to setting a target profit and so on, we need to be disciplined by focusing on our goals and plans and not trading based on emotions.
Trading plans will be nothing if we can't follow all the right steps to trade wisely. We also need to learn continuously for us to reach the target goal that we want. From choosing the potential coin to setting a target profit and so on, we need to be disciplined by focusing on our goals and plans and not trading based on emotions.
I used to write my trading plan down on a note paper when I newly started and would consult it when perplexed. This day the whole plan is at my finger tip, ingrained in my mind. All I've to do now is run a check when I get series of losses to ascertain if I'm still on course. As it's the case, a lot of trading plans fail during ranging markets but will do well during rallies (both in bull and bear).
As it was becoming habitual, it was easy for you to decide what you gonna do next. Being consistent with the plan is a big factor that could help us to earn more. A lot of traders lost their money not only because of being inconsistent but also because they fail to become mentally strong when making decisions during the market crash. Trading is not all about trading plans but also it needs persistence and more patience. Having all of these things, therefore to say that trading is just an easy life for you then.
True and it seems trivial, but if we don't do that, of course we will easily forget,
but for those who really have a lot of experience I don't think they need it,
which obviously all depends on each of us.
That's why we often have to practice a lot to improve our skills in trading and make a trading plan. Gaining profits is the target of every trader but only a few traders can earn it and only experience losses from time to time. If they don't change their trading style and don't want to learn and practice, it will be useless because it won't give any results. Try to learn about strategies so that you can understand trading lessons and can improve your trading skills. but for those who really have a lot of experience I don't think they need it,
which obviously all depends on each of us.
A trading plan is extremely important for a trader. It serves as a roadmap for the trader, outlining their goals, risk management strategies, and the methods they will use to make decisions about buying and selling securities. A trading plan helps to keep a trader on track and focused, and can help to prevent impulsive or emotional decisions that can lead to losses. Additionally, having a plan in place can make it easier to evaluate the performance of the trader's strategy over time and make adjustments as needed. In short, having a well-defined trading plan is essential for long-term success in trading.
All that said my trading plan is non existent as I trade by impulses.
All that said my trading plan is non existent as I trade by impulses.
Making profit is the goal of every trader whether they are doing it right or wrong. All traders wish to pull out massive funds from trading but only a few care about some minor things that can help improve their trade and ensure they are implementing the right strategy for every trade they make.
Trading plan is one thing that cannot be neglected and for better result it best when it is visible. It is the vision a trader runs with. If a trader fails to plan such trader eventually plans to fail. When the heat of the market sets in we often forget our plans and trade from what ever our instinct suggests. But with a written plan it will be easier to set goals, targets, limits, strategies and expectations.
The more we see our plan the more we adapt to what it says, the more we understand our strategy and the clearer the result becomes. It helps in references on how productive those strategies are, if they need t be changed, improved upon or modified. Sometimes trading from our instinct come with so much emtions attached and we might want the market to do what we expect and not what it wants to do.
On the early stages when you are just studying the market and trying to figure out what is the best strategy you can follow, writing down your strategy is important not only as a learning tool but also as a way to help you to keep track of the changes you have made to your strategy over time.Trading plan is one thing that cannot be neglected and for better result it best when it is visible. It is the vision a trader runs with. If a trader fails to plan such trader eventually plans to fail. When the heat of the market sets in we often forget our plans and trade from what ever our instinct suggests. But with a written plan it will be easier to set goals, targets, limits, strategies and expectations.
The more we see our plan the more we adapt to what it says, the more we understand our strategy and the clearer the result becomes. It helps in references on how productive those strategies are, if they need t be changed, improved upon or modified. Sometimes trading from our instinct come with so much emtions attached and we might want the market to do what we expect and not what it wants to do.
If you do this and then you take a look at those pages you will realize how much you have improved over the years, however once you gain more experience you get to a point in which this is not necessary as your strategy is deeply ingrained into your mind already.
but for those who really have a lot of experience I don't think they need it,
which obviously all depends on each of us.
Making profit is the goal of every trader whether they are doing it right or wrong. All traders wish to pull out massive funds from trading but only a few care about some minor things that can help improve their trade and ensure they are implementing the right strategy for every trade they make.
Trading plan is one thing that cannot be neglected and for better result it best when it is visible. It is the vision a trader runs with. If a trader fails to plan such trader eventually plans to fail. When the heat of the market sets in we often forget our plans and trade from what ever our instinct suggests. But with a written plan it will be easier to set goals, targets, limits, strategies and expectations.
The more we see our plan the more we adapt to what it says, the more we understand our strategy and the clearer the result becomes. It helps in references on how productive those strategies are, if they need t be changed, improved upon or modified. Sometimes trading from our instinct come with so much emtions attached and we might want the market to do what we expect and not what it wants to do.
On the early stages when you are just studying the market and trying to figure out what is the best strategy you can follow, writing down your strategy is important not only as a learning tool but also as a way to help you to keep track of the changes you have made to your strategy over time.Trading plan is one thing that cannot be neglected and for better result it best when it is visible. It is the vision a trader runs with. If a trader fails to plan such trader eventually plans to fail. When the heat of the market sets in we often forget our plans and trade from what ever our instinct suggests. But with a written plan it will be easier to set goals, targets, limits, strategies and expectations.
The more we see our plan the more we adapt to what it says, the more we understand our strategy and the clearer the result becomes. It helps in references on how productive those strategies are, if they need t be changed, improved upon or modified. Sometimes trading from our instinct come with so much emtions attached and we might want the market to do what we expect and not what it wants to do.
If you do this and then you take a look at those pages you will realize how much you have improved over the years, however once you gain more experience you get to a point in which this is not necessary as your strategy is deeply ingrained into your mind already.
but only a few care about some minor things that can help improve their trade and ensure they are implementing the right strategy for every trade they make.
Little things matter in trading and this is why I like this aspect of the post. Some losses that we encounter can be because of little things that we don't put or do right in our order. Things like having patients before taking out your trade is important. Being careful to do a detail analysis can set you right on your trade instead of being in a haste and afterwards regretting taking the trade at that time.
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