I think without any plan we cannot be success in trading if we get entered into trading we will definitely need to be more preplanned with power trading otherwise it will end up with only going to loss and for being on experience letter trader you will definitely need to be made this type of single things properly
it is true that being able to make success with what has been planned requires good planning, there are some people who do not need to prepare a good and right plan they can succeed but it would be nice when you become a planned successful person. 
Topic: WHY DO WE NEED A TRADING PLAN ? - page 7. (Read 15563 times)
There is only one rule that everyone should apply when trading, and that is to have a trade plan. Any unplanned process will be harmful and will cause damage to your portfolio. In addition, under a plan, unmanaged capitals will undoubtedly receive negative feedback after a point. In addition, having a plan while you are trading will also give you a roadmap for managing your money and will make you not to make bad decisions quickly. The return of planned and consciously done transactions will surely satisfy the investor.
I think without any plan we cannot be success in trading if we get entered into trading we will definitely need to be more preplanned with power trading otherwise it will end up with only going to loss and for being on experience letter trader you will definitely need to be made this type of single things properly
Good post, trading plan is must before jumping into any trade. A proper homework should be done before looking for opportunities to take a trade. A good trading system is always your backbone of the plan. Trading system must have higher win ratio. Without proper trading plan any trader may close trades at wrong point. Most of people get emotional once they have loss trades and in emotion they take another wrong trades which further lead to more loss. If a proper trading plan is made and it is followed properly success rate will be high, it avoids to take emotional trades.
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.
Absoulutely, if ever you prepare a plan it should be just an initial plan because of market's volatility, a rapid changes within a short time interval. What i am doing is that i don't set up a plan for a trade, if i want to trader and got an instinct that i would gain from it i will go for it. But most of my trades has been researched .
Yes, the previous plan will helpful for doing very easy attractive because 50 percentage of work will be ended before entering into trading and executing will be the next work at that time I don't have any confusion about trading because the pre plan will definitely helpful.
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.
Yes we should be have trading plan before doing trading activity, this trading plan to know the level risk in trading and how to minimize it. Trading activity without trading plan will be the same like gambling, and doing gambling will never promising consistently profit. Purpose of trading is to get profit monthly, so we should be have trading plan.
I agree. Having a good trading plan or at least a concept on what coins and leads to follow would give your trades and transactions the direction it needs to push forward rather than just trading aimlessly. I think, for most people in the market, the end point of all trades is to convert whatever altcoins they have into Bitcoin or, at least, into altcoins that they see would have a most prosperous and stable growth. Certainly, there should be a good plan that would govern such actions to ultimately lead to one's objective, without it, I think it would be really difficult, especially since the trading market is such as treacherous one.
if you don't have a plan, of course trading can be like gambling. however, with a good strategy, you can optimize the income you will get. well, many things need to be considered before trading.
This is a risky venture and therefore it needs to be carefully plan.
When trading, you are predicting the price movement so you can buy and sell successfully, and that requires a plan and continues improvement
of your strategy. You cannot just trade directly, there's a timing for everything and that says it requires a plan.
When trading, you are predicting the price movement so you can buy and sell successfully, and that requires a plan and continues improvement
of your strategy. You cannot just trade directly, there's a timing for everything and that says it requires a plan.
Because everyone needs it. But I find it so funny when I remember not having my trading plan and just play along with all the hype on the forums, trolls in chatboxes and social media sites. It was working because there's a huge FOMO going on and all I do is win. But in this situation, trading plan is really a must.
This is a risky venture and therefore it needs to be carefully plan.
When trading, you are predicting the price movement so you can buy and sell successfully, and that requires a plan and continues improvement
of your strategy. You cannot just trade directly, there's a timing for everything and that says it requires a plan.
When trading, you are predicting the price movement so you can buy and sell successfully, and that requires a plan and continues improvement
of your strategy. You cannot just trade directly, there's a timing for everything and that says it requires a plan.
Cryptos are volatile and having a plan for each case can solve a lot of problems causes by traders without any plan. Plan your trades and trade your plans. Just my 2 cents.
...and don't forget to always stick to your plans. This is common problem of newbies when they see a sudden spike of price if BTC, they assume that it will continue and keep holding until the price drops like a fly, end of the story they are holding a priced coin or token which will take time again to recover. Stick to the plan.
Cryptos are volatile and having a plan for each case can solve a lot of problems causes by traders without any plan. Plan your trades and trade your plans. Just my 2 cents.
Trading without any trading plan will ve the same thing we jump in to gambling, because trading plan possible to minimize the risk and to maximum the profit. No one trader possible to make profit by consistenly without any trading plan.
I agree with your opinion. like we want to fight, we need the right strategy if we don't want to lose the war, so careful preparation and market dominance is very important, one of which is to make regular observations and want to learn from our seniors and ask for guidance if we feel we cannot enter trade, the value of crypto currencies is strongly influenced by the world economic situation, so our predictions must be right in our time to sell and buy. 
I believe that you have sound reason why one will need trading plan for you to be successful in trading crypto currency but the most difficult aspect of these plans is proper execution of the plan that is the major problem.
Exactly.Trading plan can be a big help in making our own trading a successful one but since the condition of the market varies from time to time so most of the things that are inside the plan cannot be followed.But as long as you know what you are doing and have enough knowledge on trading,then you will still gain profits with your own strategies in trading.
I believe that you have sound reason why one will need trading plan for you to be successful in trading crypto currency but the most difficult aspect of these plans is proper execution of the plan that is the major problem.
Because without a trading plan profit will hard to come by. Trading is more of skills/strategies than investment, so, haven the skills and strategies guarantee a trader awesome profits. Although some trading plans could need to lose but in a minimize form than when trading plans are not in place.
Very interesting information. I agree with you. Any study should be structured. And trade must be carried out according to the plan.
I really realized my mistake through your article. I seem to have let my emotions control my portfolio. I was greedy and did not place a sell order at the target I wanted, I also did not place a stop loss to avoid risk.
thank you, seems like i will become a professional investor after reading your article.
Do not be too hard on yourself mate lol, those mistakes are what will eventually make you to be a good trader, when it comes to greed, it really takes time and determination to fight it off, I have read so many articles on greed in trading a lot of times and sometimes, I still get caught up in it a little, some greedy actions of mine has actually helped me while some failed me totally but I don’t want to keep gambling with my emotions.thank you, seems like i will become a professional investor after reading your article.
So right now, I go into trading, use my analysis to place my order and sell it immediately my analysis tells me to do so no matter how little the profit is and I have learnt to quickly take my eyes of it so that I don’t end up regretting my action when I eventually see how much I would have gained if I had not taken that step of selling it.
sometimes you dont need to use any analysis at all for so many altcoins.
short lived coins such as pnd or mn coins dont need a meticulous trading plan..you just need to know the right moment when to enter and when to exit their market. and guess what? if you failed to sell your coins, you will end up bag hodler. but if you hit the right spot you will get a lot of profit. trading technical analysis doesnt work on them. it is how well do you know the market and the coin.
Jump to: