WHY DO WE NEED A TRADING PLAN ? - page 4.

Kasabus

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Quote from: Vaskiy on April 10, 2019, 01:22:54 AM

As the crypto market is completely unpredictable, it is hard to predict and get the best profit. To this it is good to have an alternate plan so that one can try making some profit if the primary prediction didn't coincide with the real time market variation. We need to be prepared, without which profit is just a dream in trading.

It's the norm of crypto, who predicted that from cents it will reached to thousands of value for bitcoin?
I believe majority did not see that, that's why only few got rich with investing in crypto, and these people who invested
are not sure if they will profit, but they are willing to take this high risk and accept if they loss.
It's finding the opportunity and they find it at the right timing.

Vaskiy

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As the crypto market is completely unpredictable, it is hard to predict and get the best profit. To this it is good to have an alternate plan so that one can try making some profit if the primary prediction didn't coincide with the real time market variation. We need to be prepared, without which profit is just a dream in trading.

btcyoda

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In every aspect of life, planning is always important because without planning it is impossible for us to make some decent profit. I know we should try plan before trading because without researching about the coin it is not possible for us to make some decent profit, so it is always good to plan before trading any coin in the market.

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In trading, you definitely need the exact value of the price at which you want to fix the profit, otherwise you can play

nasipadang

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In the management, planning is important, for some activities are the planning always made because planning is the main foundation for achieving goals. From what is written op, that's why you need planning in this case to trade, but planning must be made with information and facts or market conditions that are correct according to the analysis.

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All my executed trades is based on a well defined and strategic plan having convinced of pulling the trigger of buying or selling I don't allow emotion to set in because I only trade with amount of money I can afford to lose.
What is important is I strictly adhered to my trading strategy coupled with a sound money management so as to have an edge over the market, I analyze my trading charts using 4 hour and timeframe this give room for adequate time to plan and execute my trade at the appropriate time.

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Quote from: amskdkd on August 27, 2018, 11:35:29 PM

Build yourself a trading plan that will guide you in the market, and this is actually the most effective way to actively remove the loss transactions due to emotion. Wink

This cannot totally remove the losses but atleast will be lessen the opportunity

Plans are required in each action we do,and most speci specially if this includes our hard earned money so we must be ready to increase the chance of profits by creating a plans

Quote from: Dr.Osh on April 09, 2019, 09:23:56 AM

Quote from: goaldigger on April 09, 2019, 05:18:32 AM

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.

Readiness is a product of having plans,i myself has Plan A to Plan D for more awareness of what may future bring

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Quote from: samcrypto on April 09, 2019, 05:24:09 AM

Quote from: Bagaji on April 08, 2019, 03:39:08 PM

Trading plan is not only needed by crypto currency trading but whatever you do in life require proper planning for you to succeed. I love the all the point you present above in relation to trading plan for a successful crypto currency trading career.

If you don't want to fail big then having great plan is always good. In life, we make plan everyday just like celebrating our own birthday we make plan on that. Same thing with trading, having your specific plan will make you effective on trading. Don't just go for a war without having any plan how to beat your enemy. Its very rare to see people who have no plan with their lives.

Making a plan is a best strategy we can comply to every decision we make and to utilize the possible outcome. Even professional trader used particular plan to evade loses and aim much profits. And in order to become a good trader it is valuable to used a specific plan because it can lead a way to avoid from loses and gives more kbowledge to act as professional by deliberating a liable outcome.

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Winding down.

Quote from: Dr.Osh on April 09, 2019, 09:23:56 AM

Quote from: goaldigger on April 09, 2019, 05:18:32 AM

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.

Right. Of course we should always have a trading plan as this will be a great aid to attain success in the end and minimize losses. Especially that the market is very much volatile so having a trading plan can be very helpful to resort into good alternatives when sudden fluctuations happen while you are trading.

Dr.Osh

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Quote from: goaldigger on April 09, 2019, 05:18:32 AM

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.

BeGoods

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Quote from: samycoin on April 07, 2019, 12:21:49 AM

Quote from: amskdkd on August 27, 2018, 11:35:29 PM

Build yourself a trading plan that will guide you in the market, and this is actually the most effective way to actively remove the loss transactions due to emotion. Wink

That's true because most are the problem in trading is not only a losses but also the emotions. If we want really want to trade we need a plan to how we can manage well our assets and also how to hold our emotions.

The plan is so important that you can move and move on track. Right, like when prices fall, while you have a plan to survive and sell at
the price target you made, the plan will keep you calm and make a panic decision..

conected

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Quote from: goaldigger on April 09, 2019, 05:18:32 AM

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.

- Of course, planning is always a necessity from business to life, we cannot operate without a plan because if we work without a plan, it's that we're just working on emotions, agreeing that emotions will sometimes be accurate but most of the time, it will lead us in the wrong direction, wrong direction in life will be a waste of time but when in the wrong direction in business, wasting time is normal but wasting a lot of money is very serious. Therefore, always create a plan before participating in trading, which will help us limit loss, increase winning rate, emotions will not affect us

samcrypto

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Quote from: Bagaji on April 08, 2019, 03:39:08 PM

Trading plan is not only needed by crypto currency trading but whatever you do in life require proper planning for you to succeed. I love the all the point you present above in relation to trading plan for a successful crypto currency trading career.

If you don't want to fail big then having great plan is always good. In life, we make plan everyday just like celebrating our own birthday we make plan on that. Same thing with trading, having your specific plan will make you effective on trading. Don't just go for a war without having any plan how to beat your enemy. Its very rare to see people who have no plan with their lives.

goaldigger

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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.

xvids

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Quote from: Strongkored on November 07, 2018, 12:51:56 AM

What you mentioned can be said to be true, but the most difficult thing is to do what has been planned, and point number 3 is a pretty difficult thing for me to do because losing is greatly affects us mentally.

Totally agree with you it is easy to plan something but doing what you plan and as you plan it isn't easy.
What's the point in planning if you couldn't even do what you plan?
We need a plan to help us , to be our guide to know what should we do next.

jhonjhon

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Quote from: Bagaji on April 08, 2019, 03:39:08 PM

Trading plan is not only needed by crypto currency trading but whatever you do in life require proper planning for you to succeed. I love the all the point you present above in relation to trading plan for a successful crypto currency trading career.

It definitely having a big role in trading, this actually serves us a guide of where to to go and sticking into the plane will give us chances to succeed of what we aiming for. Many traders fails because they don't have a plan or never used it, but of course we need to have some adjustment as we never know the market flows which could affect our plans.

Bagaji

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Trading plan is not only needed by crypto currency trading but whatever you do in life require proper planning for you to succeed. I love the all the point you present above in relation to trading plan for a successful crypto currency trading career.

syamster

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Quote from: KlepZ on April 08, 2019, 08:03:09 AM

I would estimate that 95% of the people I’ve coached in the last 15 years have not had anything closely resembling a trading plan. My first trading plan consisted of buying pullbacks above or below a 100 period moving average and exiting after an average daily or weekly movement was seen.

Yeah it is important to have trading plan and that 5 percent of people who are not using any plan to trade well are not the real traders, they needs to know it is our benefit if we move step by step in trading and fix everything pre planned, it reduced the chance of lose and you will be aware of what will happen you will be able to go through any bad situation patiently.

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