WHY DO WE NEED A TRADING PLAN ? - page 8.

DeadCoin

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Quote from: beerlover on March 27, 2019, 03:57:00 PM

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.

I do go with my analyzes as well. At times yes as you said, i decide to end up with little profits. This yes, seriously makes me satisfied the value goes down the moment i sell, but feel bit worse when the value goes up more. This was my learning. Since then, i just went about appreciating me for taking a decision on the right time even though the profit was less. Hence, be ready to accept the loss and start learning from it. Do not get away. Fight and become strong.

beerlover

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Quote from: befriendmywater on March 26, 2019, 04:37:39 AM

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. Grin

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.

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.

Activitycoin

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Quote from: ToyotaFortuner on March 26, 2019, 09:28:11 AM

Quote from: akram143 on March 26, 2019, 07:55:37 AM

Each and every people experience different kinds of things in every trading moment so making the one plan will give the exact thing that you have to decide previously so don't follow any other strategies or any other plants because it will not suitable for you if you are not fixing to it that's why I am saying this making own plan will be successful.

when they experience important moments at the exchange they should be able to make it an important lesson because we know experience is the best teacher who can help you to become a successful person.

Pre planned trading shows the smartness of the traders, as those traders who has no idea what they are doing and how long they will have to hold then this kind of trading leads to lose so better if we have plan to become a trader try to make plan and then enter the market on right time, as at low price and hold for long term trading.

Fredomago

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Quote from: ToyotaFortuner on March 26, 2019, 09:28:11 AM

Quote from: akram143 on March 26, 2019, 07:55:37 AM

Each and every people experience different kinds of things in every trading moment so making the one plan will give the exact thing that you have to decide previously so don't follow any other strategies or any other plants because it will not suitable for you if you are not fixing to it that's why I am saying this making own plan will be successful.

when they experience important moments at the exchange they should be able to make it an important lesson because we know experience is the best teacher who can help you to become a successful person.

Your owned personal experienced will gives you a good hint whether to what position you'll going to take, strategy will be effective if you already have a good glimpse to its possible results, sometimes making a lots of combinations and feel yourself the actual scene inside the market will give you much precise decisions to make.

ToyotaFortuner

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Quote from: akram143 on March 26, 2019, 07:55:37 AM

Each and every people experience different kinds of things in every trading moment so making the one plan will give the exact thing that you have to decide previously so don't follow any other strategies or any other plants because it will not suitable for you if you are not fixing to it that's why I am saying this making own plan will be successful.

when they experience important moments at the exchange they should be able to make it an important lesson because we know experience is the best teacher who can help you to become a successful person.

emberbekas

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Quote from: akram143 on March 26, 2019, 07:55:37 AM

Each and every people experience different kinds of things in every trading moment so making the one plan will give the exact thing that you have to decide previously so don't follow any other strategies or any other plants because it will not suitable for you if you are not fixing to it that's why I am saying this making own plan will be successful.

With the plans and strategies that we build ourselves, naturally we will get a sense of what we do - the plans can unite with our minds. So that we will understand in dealing with situations that might arise when we trade, both in bad situations and in the good one. Without a plan, of course we will oscillate and tend to act reactively to everything that happens which for sure will give us an uncertain destination.

kennen1113

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Quote from: mornabo on March 26, 2019, 06:09:37 AM

Quote from: befriendmywater on March 26, 2019, 04:37:39 AM

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. Grin

Because in trading, what happens on the market will not always be in accordance with your expectations. Thats why the plan is needed so you can face any price changes and any conditions that will occur. sometimes you can be greedy when certain conditions, too brave to wait, and so on. a plan is made so that you can follow the analysis you have done

Exactly, sometimes the market will not follow what we want and of course, an unexpected situation will make us take wrong actions but if we have a plan and are ready for it, we just need to follow the plan, we will not need to be confused and try to find ways to solve the problem because the answer has been set, applied to complete the job. In addition, the plan will always be a good way to prevent greed because our emotions cannot penetrate our thoughts when we have a plan, the plan as a rule to suppress greed

akram143

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Each and every people experience different kinds of things in every trading moment so making the one plan will give the exact thing that you have to decide previously so don't follow any other strategies or any other plants because it will not suitable for you if you are not fixing to it that's why I am saying this making own plan will be successful.

iv4n

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Quote from: mornabo on March 26, 2019, 06:09:37 AM

Quote from: befriendmywater on March 26, 2019, 04:37:39 AM

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. Grin

Because in trading, what happens on the market will not always be in accordance with your expectations. Thats why the plan is needed so you can face any price changes and any conditions that will occur. sometimes you can be greedy when certain conditions, too brave to wait, and so on. a plan is made so that you can follow the analysis you have done

Bravo, in crypto market you need to expect unexpected. You can have only one long term plan and that`s holding, day trading plan is something you need to be able to change in a second if situation demands that. In long and short term trading you need to be able to avoid making emotional decisions, in long term every drop will hurts more than it should, in day trading you will miss good timing for selling or buying cause you had feeling that price can go higher or lower.

mornabo

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Quote from: befriendmywater on March 26, 2019, 04:37:39 AM

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. Grin

Because in trading, what happens on the market will not always be in accordance with your expectations. Thats why the plan is needed so you can face any price changes and any conditions that will occur. sometimes you can be greedy when certain conditions, too brave to wait, and so on. a plan is made so that you can follow the analysis you have done

befriendmywater

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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. Grin

Furious 7

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Good planning means planning success. and failure in planning is planning failure. that's probably the proverb that I read from various books.
in trading also requires planning and strategy, otherwise you might only get loss.

btcmegastar

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Most of the people will have a different plan when it comes to trading, the Trading platform is a completely different platform which we need to plan before investing in any coin in the market. After planning we have to follow it strictly otherwise, you need to face a lot of problems because market fluctuation will make you change your mind, so always stick to your plans before buying or selling.

Moiyah

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We should always have a trading plan whenever we do some trades. Setting an entry and exit point is also important. Past data can also be significant to distinguish any possible bullish or bearish trend. You can always achieve target profit if you have strong self discipline and when you follow all your trading plan.

Shinpako09

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You really need a plan, because without a plan you won't be successful in that field. You will be lossing for most of the time if you will rely on your luck. Never heard of trader without a plan, even weak hands has a plan it's just their estimate is wrong. LOL. I guess it doesn't matter detailed or not as long as you are doing great, that will do.

Rightchoice

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It is only common sense, there is no way anyone can be successful without learning well. It’s obvious that knowledge and experience is the key aspect for success. I have found it all relatively easier with support of FreshForex, who not only provides awesome trading services but also have some amazing features to make someone gain money consistently. It is kind of IDEAL creation, so that makes the working so smoothly.

gabmen

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Quote from: Pattart on November 29, 2018, 10:10:54 PM

Quote from: jambul_kribo on November 24, 2018, 11:39:33 PM

Quote from: jony35490 on November 24, 2018, 11:25:10 PM

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

Yeah dude trading plan is most essential for our success in trdaing. If we can make a good strategy for short or long term trade then we will get much profits without losses.

maybe trading one of key success in our trading result.in this plan, we write some important information about why how about our trading.so this is why we really need it.

of course the plan will determine your win, in price market can drift and drop at any time. and if you don't make a plan such as how much profit you have to take and how much loss you can receive, so when you analyze it you won't be confused what you will do afterwards..

Lol. I chuckled a little with a plan removing losses. You can't remove having losses from the equation since you will lose money one way or another. Having a plan makes you flexible on what to do if that happens. In the course of making plans you'll become more aware of what you're getting yourself into and that is already beneficial.

petermike

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At this moment we need a trading plan by the market fluctuating constantly and not stable.The trading will help us to compensate for losses when buying coins at high prices before and this is a good profit form when Bitcoin and Altcoins go down.

Arthurian60

newbie

Activity: 234

Merit: 0

Before you get into trading try as much as possible to have a trading plan. Without trading plan, you will always find yourself at loss all the time. A trading plan will serve as a guide to, when to enter a trade and when to exit it. It's very important.

onebtcforlife

member

Activity: 420

Merit: 10

For trading, we need to have our plans in order to implement them in the market according to the market situation because without plans it is impossible to make money through trading. Planning is the most important thing we need to consider while when are into the trading sector.

Topic: WHY DO WE NEED A TRADING PLAN ? - page 8. (Read 15610 times)