Topic: How Visible is your trading plan - page 3. (Read 392 times)
Picked the 4th option — my trading/investing plan isn't even complicated in the slightest. It's really simple though it just takes a good amount of knowledge/time/experience in the crypto industry to know what to do.
I have a note pad where I jot down my ideas, plans and strategies.
I keep it very handy, and it is my go-to when I get stuck, and it is a compendium of years of personal trading knowledge, trial and errors and also tips from other successful trading mentors and role models.
I say do whatever works for you. And in all, just try and stay consistent.
I keep it very handy, and it is my go-to when I get stuck, and it is a compendium of years of personal trading knowledge, trial and errors and also tips from other successful trading mentors and role models.
I say do whatever works for you. And in all, just try and stay consistent.
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.
That’s exactly one should do. I mean no strategies works the second time. Also there are very high chances that any particular plan works the second time, so yeah a trader should learn to adapt according to the market conditions and needs. A trading plan will only work if you have enough capital to fund if you are negative in overall asset, but yes in order to succeed in the plan, the risk intake will be more. So I would suggest trade according to the market and charts and always learn from your mistakes. 
Obviously you need a good trading plan before you can succeed and become a successful trader, Trading requires some decipline, rules basically do's and don't. Which includes How many times that you wanna trade in the day/week. You need to outline your profit target in trading, basically stating how much you want to gain in a given day/week.
Finally you must have an exiting plans for loses, that is how much loses you could incure in a day before you leave the market without having to chase the market in order to recover your loses.
Finally you must have an exiting plans for loses, that is how much loses you could incure in a day before you leave the market without having to chase the market in order to recover your loses.
To be honest, my trading plan is to plan ahead and take cautious risk management since it's where it all lies after all. If you have a good risk management plan along the way you'll never afraid to lose in the first place, the safety of your portfolio is in there.
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What we have to pay attention to is how to choose a coin to trade by doing an analysis to determine when to trade or enter the market. Maybe it will be the same plan as intended by @OP but just different in name.
I suggest making backup plans before trading so that if market conditions change, you still trade based on the market situation and can adapt to market conditions. That is why learning analysis is needed to determine the coin and the time to trade.
I suggest making backup plans before trading so that if market conditions change, you still trade based on the market situation and can adapt to market conditions. That is why learning analysis is needed to determine the coin and the time to trade.
The market acts spontaneously so your plans may not work accordingly as planned, so you have to be ready whichever the market goes. It sometimes makes you decide what approach to do in some unusual market situations especially when global politics swing the market. One announcement of a world leader can change the volatility.
Your plans will have to be changed dramatically by then because buy low sell high may not always work.
Never to trade by instinct because it is dangerous to do that especially if you are not experienced. A newbie don't have what it takes to trade with instinct because if you do that along the way in the trade you may have a volatility that will push you off balance into loss and you may quickly close the order out of fear as you don't know what to do next while if you were trading with strategy and plan you can understand if the move is a reversal or continuation. It is wiser to trade with plan than instinct if you are not an experienced trader.
Nowadays many trader not trade based on their instinct but also how hype and following other signal actually with shit coin, after BSC shit coin moment ended with many altcoin drop drastically and developer removed liquidity, right now has Solana shit coin network become popular. I don't know why many people not learned from their mistake at BSC shit coins and have planning with high risk and earn high return or profit later.I loss many time with trading due several mistakes I made, but right now I changed with my trading way and have good trading plan and priority become more patience waiting right time and right moment for entry in some altcoin. I stop totally with hype moment and better with fewest profit earn and consistency than higher profit but possibility with higher risk.
Making profit is the goal of every trader whether they are doing it right or wrong.
Traders hunt for profit and it is true but their main priority should not be profit, it is protecting their initial capital. If they are able to protect their initial capital, they will be able to get profit sooner or later. If they are unable to protect their initial capital, even if they get big profit, they will lose it all sooner or later.Quote
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.
Their plans and their orders should include their exit prices at draw or at minor loss for cutting loss. If they don't have such plans, they won't be able to protect their initial capital.With traders, no capital they have nothing to do and if they lose their initial capital, they lose all. If a trader have capital at hands, they will have other opportunities to increase their capital.
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.
When we already know what we have to do when we trade, hereinafter referred to as a plan, then it is definitely formed in our minds without having to write it again in a note or something like that. Things like this are very important because after all we have to have a plan about our trading. The main goal is to make a profit, and profits cannot just come when we don't have a plan or strategy for trading. Something we have to think about before anything that is in trading is a plan. 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.
Never to trade by instinct because it is dangerous to do that especially if you are not experienced. A newbie don't have what it takes to trade with instinct because if you do that along the way in the trade you may have a volatility that will push you off balance into loss and you may quickly close the order out of fear as you don't know what to do next while if you were trading with strategy and plan you can understand if the move is a reversal or continuation. It is wiser to trade with plan than instinct if you are not an experienced trader.
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.
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.
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.
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