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.
Topic: WHY DO WE NEED A TRADING PLAN ? - page 6. (Read 15610 times)
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. 
Exactly you are right mate that we must need to build our-self for a trading plan. Without trading strategy we can't get much profits by making any trade. 
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 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.
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.
with good planning we will not be rushed to buy or panic to sell, because you have planned the trade that you will do.
therefore I strongly agree if real planning is needed before we trade.
therefore I strongly agree if real planning is needed before we trade.
Without really having a "plan" in anything in life how do you really plan to be successful anyway ?
I mean you need to have a plan on how you trade and you can perfect it, it doesn't really have to be a good plan. Have a plan that sucks and even loses you money, than find what made you lose money than fix a bit of it, maybe it still won't be good at all but than you find the next mistake, maybe sometimes what you think you "fixed" is just changing a mistake with another mistake.
Nonetheless, if you continue improving your plan and system constantly and tweaking the trading plan the best way possible than in the end after a while you will be good. Think of it like practice, you may not lift too much weight today if you start, you may even injure yourself and have a setback but in the end if you consistently keep at it one day you will be lifting huge weights.
I mean you need to have a plan on how you trade and you can perfect it, it doesn't really have to be a good plan. Have a plan that sucks and even loses you money, than find what made you lose money than fix a bit of it, maybe it still won't be good at all but than you find the next mistake, maybe sometimes what you think you "fixed" is just changing a mistake with another mistake.
Nonetheless, if you continue improving your plan and system constantly and tweaking the trading plan the best way possible than in the end after a while you will be good. Think of it like practice, you may not lift too much weight today if you start, you may even injure yourself and have a setback but in the end if you consistently keep at it one day you will be lifting huge weights.
well, sometimes not having a plan is also a plan - looking for opportunities. it's not bad though
If you don't have any plan whatsoever on how to trade like when to buy and sell or how to choose the best options for investing you will have a hard time trading right, and emotions involved during trades won't help you either, having some basic knowledge of TA atleast can help you to have some kind of plan for both buying and selling.
Right.Trading with a plan is very essential because this will guide you when is the best entry and the best exit.But most of us here failed to follow our trading plan because there are really some inevitable things that might occur at the middle of our trading like price fluctuation.With this,we should always be prepared of some circumstances so that we will still end up profitable. 
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.
You're right. And it's easier to make adjustments if you already have a plan and the market suddenly fluctuates. Having contingencies are plart of making plans and strategies and one thing you can't overlook in trading is if something unexpected happens. You don't really need an extremely elaborate plan for trading but something to keep you in line especially in a very volatile market.
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.
Without really having a "plan" in anything in life how do you really plan to be successful anyway ?
I mean you need to have a plan on how you trade and you can perfect it, it doesn't really have to be a good plan. Have a plan that sucks and even loses you money, than find what made you lose money than fix a bit of it, maybe it still won't be good at all but than you find the next mistake, maybe sometimes what you think you "fixed" is just changing a mistake with another mistake.
Nonetheless, if you continue improving your plan and system constantly and tweaking the trading plan the best way possible than in the end after a while you will be good. Think of it like practice, you may not lift too much weight today if you start, you may even injure yourself and have a setback but in the end if you consistently keep at it one day you will be lifting huge weights.
I mean you need to have a plan on how you trade and you can perfect it, it doesn't really have to be a good plan. Have a plan that sucks and even loses you money, than find what made you lose money than fix a bit of it, maybe it still won't be good at all but than you find the next mistake, maybe sometimes what you think you "fixed" is just changing a mistake with another mistake.
Nonetheless, if you continue improving your plan and system constantly and tweaking the trading plan the best way possible than in the end after a while you will be good. Think of it like practice, you may not lift too much weight today if you start, you may even injure yourself and have a setback but in the end if you consistently keep at it one day you will be lifting huge weights.
Your article will definitely help beginners.Trading is unpredictable and you really need a bit of luck.But the most important thing about trading is skill and experience. I have a lot of friends who does trading.They often gave me advices and I have been told to make a long plan for trading.Because long plan will make your trading easy and there will be more chances of getting profits.
legendary
Activity: 2436
Merit: 1189
Need Campaign Manager?PM on telegram @sujonali1819
Yes obviously we need a plan for profitable trade. There is a proverb " A man without a goal/plan is like a ship without a rudder." Thomas Carlyle
So if We think trade as a life then plan works like as rudder. Mainly need a plan in trading that when you enter in a trade and how ℅ you will take profit from the trade. If you can not make your plan perfectly will be failed in trade or life both. So we should think about plan before enter any trade. Thanks
So if We think trade as a life then plan works like as rudder. Mainly need a plan in trading that when you enter in a trade and how ℅ you will take profit from the trade. If you can not make your plan perfectly will be failed in trade or life both. So we should think about plan before enter any trade. Thanks
This article is very true about the truths of investors not investing as planned. I have also invested freely and it seems that I feel more anxious and indecisive in making decisions in the portfolio.
The price is very expensive if you do not follow the plan and rules you have set out. trust me.
The price is very expensive if you do not follow the plan and rules you have set out. trust me.
When we don't know what we are doing it means then how can we make benefits from it so for that we actually need plan about how we are going to make and it is not necessary you have to be technical analyst to be a trader,sll you need to do is where you want to buy and where you have to sell.
Of course, we need a plan to trade. Planning wise our success will be sure, and incomplete plan wise we always feel doubt and we can't do it whatever we want to do. So in trading its need more that do everything with planning. Trading is risk, whenever we trade we take a risk so if we do every trade with planning wise and then definitely in the end we will be in profit.
I don't think that we need any specific trading plan for crypto trading, as the market has been constantly changing, so we have to plan our strategy according to the market situation.
You have just supported trading plan too, lol. Look at your last few words; you said “so we have to plan our strategy according to the market situation.” So, how do you intend planning out your strategy if you don’t put your plans down, it is when you have your trading plan that you will successfully evaluate your transactions, remember the strategies you once used that made a particular trade successful and also have the past data of all your plans.So, trading plan is not really that bad though it can be quite stressful at the initial stage before we finally get used to it.
We need a trading plan because we need some rules which we are going to stick with. After all, we would have advantage on other traders which are only making decisions on their feelings about something.
full member
Activity: 660
Merit: 101
Colletrix - Bridging the Physical and Virtual Worl
Just like normal day to day plans its expedient that you also plan your trade very well so you can know when to enter and leave a trade. Failure to do this might lead to serious loss in capital
Can we look trading as an economy? Maybe yeah because it causes rise/fall of currencies which directly affects price of products, wages and overally our wealth. According go Adam Smith, you can't plan economy because it's impossible, planned economy can never siccess, you have to give it freedom and let it develop on it's own. So for this reason, since I look trading as a part of economy and also since we can't accurately predict further price, I would say big no to trading planning.
Jump to: