Topic: WHY DO WE NEED A TRADING PLAN ? - page 3. (Read 15563 times)
You're right. Also, the trading plan will be a good way of self-motivation and will help to make your trading more consistent and structured. Having a trading plan is very useful.
Trading is like a battle, so you need plans to win this fierce battle. The Crypto market is constantly fluctuating, and you can make a lot of money in a few hours but you can lose the opportunity if there is no perfect plan.
There is no perfect plan in trading as well,just use the current state of cryptos into your side by buying or selling.Plan can be defined as our goal too in trading without having proper target to achieve we can't aim anything so set a prior target and march towards it.
Yes, of course, we need a plan for trading. Because no work can be done without planning. And trading is a very complex and risky topic, so before trading, you need to have a good plan. The right plan makes the job easy. So I think planning is a must to succeed in trading. Not just trading, planning is necessary for all purposes. So we need trading. According to the plan, there will be a success in trading.
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Thank you
This is truly a real experience from an experienced trader. I really realized my mistakes when trading recently. I need to note this article again to read it every day. repetition will definitely help us remember it very well.
I really read too many of these rules. but for the crypto market, you cannot apply most of the above rules. because the decentralized market always has very absurd things and we need to follow it if we don't want to die. In my opinion, new traders should try to invest in small amounts, they will learn faster instead of reading too much.
We need a trading plan for us to lessen our risk to get a low profit because we cannot say when will the market will go up and down, that is why we should always have a back up plan for us not to have any regrets. Right now, I am interested to use a a good trading platform which is Darb finance that it is a wallet and an exchange of fiat and cryptocurrencies, you can easily convert all of your fiat into cryptocurrencies here and vice versa. Finding a good trading exchange is also a good trading plan for you to be secure and be confident to do trading.
For trading, we should always need to have different plans because without planning it is impossible for us to make profits. I have failed many times without any proper planning because it may fluctuate our mind whether the price will go down and this makes us think of panic selling.
I dont see any reason why a crypto traders need a trading plan since the crypto market is full of opportunities and it can leap to any directions any time but I think it most important for trading is seeking knowledge and the study of previous market trend because there some certain trend in the market which usually reoccur.You cannot make a working trading plan if you don't have the knowledge about crypto, so you need to educate yourself first.
it's true that there's a lot of opportunities, but it cannot be denied that it's full of risk here as well.
For trading, we should always need to have different plans because without planning it is impossible for us to make profits. I have failed many times without any proper planning because it may fluctuate our mind whether the price will go down and this makes us think of panic selling.
I dont see any reason why a crypto traders need a trading plan since the crypto market is full of opportunities and it can leap to any directions any time but I think it most important for trading is seeking knowledge and the study of previous market trend because there some certain trend in the market which usually reoccur. 
Trading is like a battle, so you need plans to win this fierce battle. The Crypto market is constantly fluctuating, and you can make a lot of money in a few hours but you can lose the opportunity if there is no perfect plan.
You fail to plan, you plan to fail, is an expression that should answer the OP on the need for a trading plan. Trading is tedious even with a trading plan let alone when there isn't a plan. With plans mapped out, it should give the trader the parameters to check and help them control their emotions while trading.
We need plan in order to calcluate the risks we take on trading. We should plan if the coins we buy is for longterm or short term and we must know when we cut loses.It's important for us to know the basic rules on trading too. We should also know how to control our emotions as well.
For trading, we should always need to have different plans because without planning it is impossible for us to make profits. I have failed many times without any proper planning because it may fluctuate our mind whether the price will go down and this makes us think of panic selling.
It's an advantage for us to have a better plan to make right decisions and to have a certain guide for us to perform trading well. Is it simply done by observing some technical analysis. We can all make reliable plans on our own. It could make us trade confidently without any doubt.
Because by having a mature plan we will be more consistent to deal with everything well because it has a strong plan. Having good knowledge and skills is a plus for you to have a much better plan according to the conditions and trends at that time. So, by having a plan, at least we are not easily panicked when we find out about negative issues or falling prices and will remain at a strong stance to continue the struggle further.
Not certainly; there are some scenarios which you wouldn't be able to plan. These scenarios usually knock only once and happen in very short time; it can be considered as jockpot for a trader. A plan is just a guide, thus it won't decide your winnings.
but still it can reduce the risk compared to trading without a plan. we know that before trading, gathering useful information is very necessary, and making restrictions so that we avoid the risk of loss. when you don't make a plan, of course you will only hold back and wait for the price to return to normal, when the price has fallen.
We do need a trading plan mostly in other not to over trade or cut profits when it is not due for that. Many traders are cut in between because they have decided not to analyze the market and invest outside the trading plans they have in place. I could remember when I was Trading forex and during one of the training we were told to follow our plans for consistency purposes and that is what op has mentioned again and that means it is much important for us as traders and investors. It is you plan that lead you in the right direction in your business and that is to said our plans is our investments foundations.
I am somehow agree with your points but also will like to add a few from my sides.
A well trained trader always have a trading plan. Without it no one really can be saved from facing loses.
If you want to make money by becoming a serious trader or investor then you do really need to have a trading plan.
Moreover the plan can be really beneficial in order to make yourself strong in order to bear loses.
I would really advice all the traders to make a plan and this will surely help to make you rich.
A well trained trader always have a trading plan. Without it no one really can be saved from facing loses.
If you want to make money by becoming a serious trader or investor then you do really need to have a trading plan.
Moreover the plan can be really beneficial in order to make yourself strong in order to bear loses.
I would really advice all the traders to make a plan and this will surely help to make you rich.
Not certainly; there are some scenarios which you wouldn't be able to plan. These scenarios usually knock only once and happen in very short time; it can be considered as jockpot for a trader. A plan is just a guide, thus it won't decide your winnings.
but still it can reduce the risk compared to trading without a plan. we know that before trading, gathering useful information is very necessary, and making restrictions so that we avoid the risk of loss. when you don't make a plan, of course you will only hold back and wait for the price to return to normal, when the price has fallen. You will not go to war without any plans on how to win unless you wan to suicide. Same as in trading when you should always have plans on every action or decision youve made. With this you can increase the probability of making the right desicions because you even have a plan B for failing.
well, in this matter of course we need a plan to avoid big losses. besides, without a plan, we can get a big loss. some people don't know what they should do when prices become unstable. it certainly makes them a loss.Trading plan is extremely important if you want to be a successful trader. If you go without plan, you will surely be stuck in trades or be in a loss. The market these days is not very good and it requires a lot of planing if you want to make successful trades.
You will not go to war without any plans on how to win unless you wan to suicide. Same as in trading when you should always have plans on every action or decision youve made. With this you can increase the probability of making the right desicions because you even have a plan B for failing.
well, in this matter of course we need a plan to avoid big losses. besides, without a plan, we can get a big loss. some people don't know what they should do when prices become unstable. it certainly makes them a loss.Trading plan is extremely important if you want to be a successful trader. If you go without plan, you will surely be stuck in trades or be in a loss. The market these days is not very good and it requires a lot of planing if you want to make successful trades.
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