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Thread: Why Forex trading need A Planning?

  1. #1

    Default Why Forex trading need A Planning?

    In many article I saw people write that trading plan is must and we should make a plan before we make any trade. But the reasons are not clear to me why we need a specific trading plan to follow. because market moves all the time and these movement is always new so it is difficult to trade within a plan rather better to apply new strategy every time. So I canít understand what the necessity of a plan is. Please share your knowledge.

  2. #2
    Junior Member mocharifin's Avatar
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    All business need plan, without plan its like done stupid thing..
    Moreover, trading need super plan if we want to success there. If you are confused, just invest in PAMM account of liteforex broker..
    It will pay return you more high and very consistent..

  3. #3

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    see even to apply new strategies you need to apply it with a proper planning, you have to evolve new strategy by keeping a plan in mind, planning needs to be done for money management that is why its so important to plan in forex.

  4. #4
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    With a Forex trading plan, you can know which currency pairs you trade best, on which time frames and during which hours. It also helps you monitor your strengths and weaknesses so you can keep track of why you lost during certain times and why you profited during certain trades.

  5. #5
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    "Fail to plan means you plan to fail". There you go. In forex trading planning is very important. That how most people burn their account. They just trade whatever they (think they) see. Even when theyre in profit theyre still looking for trades because they have no plan.

  6. #6

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    Every work needs planning, and there are peopel who are successful traders just because they have planned well.

  7. #7
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    Forex traing or any other business, all require a planning to achieve success in it. Forex being more risky and lot of money being involved require extra time and hard work to plan your trades, do money management, define entry and exit points for the sake of success.

    Having a Forex trading plan is one of the most important pieces of the puzzle of becoming a consistently profitable Forex trader. Yet for many traders, creating a Forex trading plan can seem like something of a mystery, or perhaps something that they “will do eventually”…
    It is this lazy type of thinking that gets many traders into trouble and causes them to blow out trading accounts. Success in the markets is a function of discipline, and most people simply do not have enough self-discipline to determine if they are trading emotionally or objectively. This is where having a defined forex trading plan comes in; a trading plan will act as a guide which will keep you on the disciplined trading path.

  8. #8

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    we will know clear about market. when we will entry and exits. it is important. each trader should get it. we can control our money better . when we can keep money in our account we can make profit . it is insurance. all trader know about it and it's a rule of market.

  9. #9

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    Planning is a part of any business and forex trading is not any exception, you need to plan how you are going to approach the market and how are going to trade.

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