Topic: WHY DO WE NEED A TRADING PLAN ? - page 5. (Read 15610 times)
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.
I have a very simple trading plan.I take a few coins with a small capitalization. I choose according to the schedule those tokens that are at the bottom of the price and buy them.Then put a sell order 20-40% higher. Within a month or two, the order is triggered. There are exceptions when the token goes into minus for a few months, but since 80-90% of orders are triggered, I still earn.
it is very important for a trader to have a trading plan, because with that it will be able to determine the rules and how to play we trade. if there is no trading plan, it will cause us to walk in no direction.
Exactly, plan is important to achieve our goal, without planing we are walking on a way without thinking. Planning, information and capital, these are our needs to get profit from trading. Altcoin Trading is best platform where we make money easily, if we know the rules of trading.
Having trading plan has it’s ways of benefiting a trader. By creating a trading plan you’re creating rules that you will adhere to and also how you’re going to implement those rules in trading . With your trading plan you make your market analysis better, before applying them to your strategy in trading.
It's must need to become a successful trader. Trading plan help us to make our trade success for which we can get much profits from trading. So we should make trading strategy.
If you don't have a plan and especialy a back up plan you might face some issues that you wouldn't be able to deal with. It's important to set some goal as well as plan how you will get there but with predictions of possible difficulties and how will you challenge them.
We all know that trading is risky and sooner or later you will face the loss too. So you have to have a plan how will you recover and how much loss you can take without major consequences.
We all know that trading is risky and sooner or later you will face the loss too. So you have to have a plan how will you recover and how much loss you can take without major consequences.
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. 
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. 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.
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. That plan will only be useful if you can effectively do it, provided you have a working plan, if you are not good in managing your emotion, that plan would be useless.
I think it's the other way around. Having a solid plan can help reduce the influence of your emotions since there's something you can follow. Regardless of what the market movement is, if you have a plan and is resolved to follow it, it's easy to make rational decisions.
All of the things that included on your post are really good to remember every day that we are dealing with trading especially for the beginners 'cause most of the time they often forget or they actually don't have a trading plan that its leading them to a bad outcome of their trades. Having a trading plan is part of our discipline which can really help us to become a good and successful trader.
it's important like you said, from my experience it's more good for my mental state to have a certain rule, like selling at loss, avg down etc. You don't know for sure the price will go up or down so making a rule will make your plan keep in order.
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.
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. That plan will only be useful if you can effectively do it, provided you have a working plan, if you are not good in managing your emotion, that plan would be useless.
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.
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. 
Planning is part of our living and in each way of our life we need proper planning for everything will go in right way,same as in our trading works,i totally agreed in all points you have mentioned Op specially the number 2
I agree that in trade you need a plan and certain goals, otherwise you will not feel the results of your work, it is important to periodically fix the profit and review the portfolio
Ofcourse you can feel the result but the problem is the the totality,and you might misuse each profit since you dont periodically tallied every amount you gain 
Cryptocurrency is all about risk, trading and gambling are the one that provide with the highest earning based on the investment made. As the market volatile any form of change can happen in no time. To be successful with trading the prediction need to coincide with the real time price move. In my experience I have diversified altcoins in my portfolio, when my prediction is not met the true market I just keep the assets safe and go with the alternate plan which is being kept prepared prior itself.
Yeah that's the function of the plan too, so that when what happens on the market doesn't match what your expectation, you still have other plans to run, plans are very important to make, so you don't get confused later
I agree that in trade you need a plan and certain goals, otherwise you will not feel the results of your work, it is important to periodically fix the profit and review the portfolio
Trading plan will be your guide to know what step you do. I have plan and I follow it but sometimes Im not following it because dometimed I buy and sell coins depends to the market.
It can be also the blueprint of your strategy wherein you are thinking how to make profit with the help of your indciators and trading pattern which you've learned wether from other people or basically just by yourself. It's also very important to avoid the interference of your emotion.It is the most reason why many traders got fails because they belong into the cage of their feeling which they gone so far from their actual plan.
It doesn't work well if will be like these and possible we end up of losing.
Trading plan will be your guide to know what step you do. I have plan and I follow it but sometimes Im not following it because dometimed I buy and sell coins depends to the market.
It can be also the blueprint of your strategy wherein you are thinking how to make profit with the help of your indciators and trading pattern which you've learned wether from other people or basically just by yourself. It's also very important to avoid the interference of your emotion.
Trading plan will be your guide to know what step you do. I have plan and I follow it but sometimes Im not following it because sometimes I buy and sell coins depends to the market. Planning is the best in every decision you make. Planning is preparing to your profit to the coin you buy and sell and the date when you hold if it's in the shorterm or longterm keeping the cryptocoins.
it is very important for a trader to have a trading plan, because with that it will be able to determine the rules and how to play we trade. if there is no trading plan, it will cause us to walk in no direction.
Traders are failed because they don’t have trading plan at all and its too risky for them because they are dealing with their hard earned money and yet they are just wasting that money. Trading should be play according to your analysis and plan, don’t just buy and sell because it can lose everything. 
Trading is just like a building a house, you need your blueprint for your house, blueprint will serve as your trading plan in trading.
Blueprint contains different information such as information about your walls, posts, ceiling, flooring. Just like in trading, your trading plan contains different information such as your buying zone, target price, stop-loss price and also the risk management should be in your trading plan.
I like your point of view, that is one on a thousand examples that in every step ahead we must have a plan. Planning is very important not only in family planning Blueprint contains different information such as information about your walls, posts, ceiling, flooring. Just like in trading, your trading plan contains different information such as your buying zone, target price, stop-loss price and also the risk management should be in your trading plan.
but also in every sector, we must do that planning. Okay, here is also my example, even a military combat attack they have to plan first a better move before facing into the fight that you must wear a full battle gear. In trading is the same as that, you must have a full battle gear before to engage in the battle/competition in trading. Full knowledge and skills is a must.Going to a fight without proper battle gears will just leave you dead on the field so easily but if you are prepared on all the stuffs you need then chances of survival is high
and this same goes on trading too, equipping yourself with proper knowledge and skills will surely help you out.
Trading is just like a building a house, you need your blueprint for your house, blueprint will serve as your trading plan in trading.
Blueprint contains different information such as information about your walls, posts, ceiling, flooring. Just like in trading, your trading plan contains different information such as your buying zone, target price, stop-loss price and also the risk management should be in your trading plan.
I like your point of view, that is one on a thousand examples that in every step ahead we must have a plan. Planning is very important not only in family planning Blueprint contains different information such as information about your walls, posts, ceiling, flooring. Just like in trading, your trading plan contains different information such as your buying zone, target price, stop-loss price and also the risk management should be in your trading plan.
but also in every sector, we must do that planning. Okay, here is also my example, even a military combat attack they have to plan first a better move before facing into the fight that you must wear a full battle gear. In trading is the same as that, you must have a full battle gear before to engage in the battle/competition in trading. Full knowledge and skills is a must. Jump to: