Planning is essential in trading

Maxwell J

Member
Banned Users
Planning is essential in trading and according to my understanding a trader ought to dependably endeavor to trade with a legitimate arranging. According as far as anyone is concerned there are 3 periods of trading where getting ready which incorporates arranging the trade is critical. I arranged everything like from a broker to escaping the trade. I am as of now trading with XeroMarkets and with their analysis, instructive materials, most reduced spreads and best execution I am making great benefit regular.
 

Fin Candy

Member
when a trader is a newbie in Forex , the first thing he or she should be doing to do more of the learning. The beginner traders do not know which road to take in Forex and that is why they are always getting confused, it is better when they take their practicing and learning very serious so that they can learn better.
 

William Castillo

Member
Banned Users
If anyone wants to enter into the forex market, he should gather knowledge about the trading and the market. Without getting full knowledge about the market, it is quite tough to trade and invest in forex. So, A newcomer can get all the information and knowledge practically by using the demo account of any broker.
Demo account helps a trader to know about the market quite perfectly. I was also using demo account of TP Global FX broker before entering into the real market of forex. It is very helpful to understand all things about the market. We can set the leverage and the starting amount in their demo account. It helps a new comer to know the forex precisely.
 

Fin Candy

Member
For me, technical analysis means Price Action trading knowledge! But till now I use RSI trading indicator for identifying overbought and oversell condition of market, but I never rely on only one parameter! I open my new trade position when I get green single from every point of my check list! Yes, in a day I don’t open multiple trade positions, but I can use enough trading lot size confidently!
 
I think a trading plan is like a roadmap for how to trade and no trades should be placed or executed without a well defined plan.
 

Fin Candy

Member
If we can acquire proper trading knowledge from here first of all we the traders have to choose the broker which at all times ensures best trading environment for acquiring proper trading knowledge by providing real exclusive educational facilities.
 

Sarah09

Member
I agree. Planning has a huge role to play in the life of a forex trader. Its what bridges the gap between where you are and where you want to go.
 

Fin Candy

Member
The newcomers cannot avoid losses by their greediness and emotions, it’s true. But the regular traders cannot come out their losses because of having most powerful risk management and MM. they always fours on just acquiring good trading knowledge . of course we have to do it. But besides it must be focused on risk managing approach if we want to avoid losses.
 

natalie2

Member
Planning is important in all fields. If we talk about trading, you need to have a trading plan in order to execute profitable trades.
 

.Alphonsa

Member
Planning before investing in forex is essential because you do not want to blow your account in a single trade.

Use a proper planning strategy can bring in consistent profit or lower the chances of risks when trading higher.
 

imi2

Member
Bad days occurs in life and even experienced professional trader do get bad days in their routine but this make them strong so planning means we should know everything before hand in order to write proper trade management plan which is impossible in my opinion. So we better should start with learning about the industry we are about to move and make some initial goals, review them periodically and refine them, that's all i guess to become successful in forex trading business.
 

Helly

New member
Would you cook the pasta without following a precise program (boil the water, add salt, immerse the pasta, wait for the cooking time, drainage)? No, for sure.
If for such a trivial activity, how to make a plate of pasta need a precise programming, imagined how much you need if there are your money to dance ...
 

credule

New member
I didn't understand the importance of planning before but with the passage of time i realized how important it is to make a plan in order to trade successfully and systematically.
 

sharabela

Member
Planning and executing the plan in the right manner are very much needed in trading. However, to be able to plan accordingly, a trader must gain experience, study, and do back testing as much as he can. It takes a lot of effort from a trader to be able to learn to read the market. Then, psychology, discipline come into play a vital role.
 

Fin Candy

Member
The leverage can affect the result of our trading with certainly, that’s why leverage is an important financial tool which an investor should consider when choosing a broker. My trading career now I am comfortable with 1:500 leverage
 

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