WHY DO WE NEED A TRADING PLAN ?

[minairia3]

What you mentioned can be said to be true, but the most difficult thing is to do what has been planned, and point number 3 is a pretty difficult thing for me to do because losing is greatly affects us mentally.

that is why it is said that trading is not something the everyone should try. and it is why there are a lot of losers in trading because it is not suitable for them but they don't want to accept it and continue trying to make it work and fail.
although you may not belong to that category, being affected by emotions is fine for beginners but as long as you are aware that this is something that you should get rid of and start being more of a solid logical trader instead.

This takes time and more trading discipline to get rid of. Not just removing the emotions of drifting from your plans but also to formulate a solid system that can be proven in many back testings and actual trading as well (ofcourse in the minimum as possible). We can always try if we have that skill or talent in TA however all trading analysis really required to be patient. TA also tests patience not just the typical hodl funda type thing.

[rodskee]

Plan are important to start doing anything people they want to adopt in their life
In trading plan are also helpful depends on the traders strategy
I think plan is useful for the long term trade and for me plan aren't advisable for the day tarde
Because day trade are need quick decision making which coins are potentially to grow in an hour so on

[Finestream]

Plan are important to start doing anything people they want to adopt in their life
In trading plan are also helpful depends on the traders strategy
I think plan is useful for the long term trade and for me plan aren't advisable for the day tarde
Because day trade are need quick decision making which coins are potentially to grow in an hour so on

I agree.Trading plan is more needed in long term trading because it will be your guide when to take trading to avoid more losses and gain more profits.But sometimes trading plan is hard to follow because the market is not always in a good condition just like what we are experiencing right now.So wait for the right timing in trading so you will not end up losing your capital.

[Kasabus]

Plan are important to start doing anything people they want to adopt in their life
In trading plan are also helpful depends on the traders strategy
I think plan is useful for the long term trade and for me plan aren't advisable for the day tarde
Because day trade are need quick decision making which coins are potentially to grow in an hour so on

I agree.Trading plan is more needed in long term trading because it will be your guide when to take trading to avoid more losses and gain more profits.But sometimes trading plan is hard to follow because the market is not always in a good condition just like what we are experiencing right now.So wait for the right timing in trading so you will not end up losing your capital.

A plan seems to be important but it become useless if you don't follow and apply in real life. It is good enough to have a single plane so you'll be focus in just one thing and go through the path. Analyze the chart and market behavior so we can have a good and effective plan in the incoming days.

[bartusv]

Having a trading plan is very important to minimize the risk. We have to define the profit we want to achieve
and determine the  exit strategy. We have to monitor the market movements and stick to the plan accordingly.

[deppil]

Plan are important to start doing anything people they want to adopt in their life
In trading plan are also helpful depends on the traders strategy
I think plan is useful for the long term trade and for me plan aren't advisable for the day tarde
Because day trade are need quick decision making which coins are potentially to grow in an hour so on

Of course it will be very important. the plan can contain many things such as strategy, what you do when the price is beyond your expectations, then the target price that you will achieve, and so on. it is included in your plan. make your plan so you know what you will do. so you are not confused when something happens on the market

[tosmartak]

What you mentioned can be said to be true, but the most difficult thing is to do what has been planned, and point number 3 is a pretty difficult thing for me to do because losing is greatly affects us mentally.

that is why it is said that trading is not something the everyone should try. and it is why there are a lot of losers in trading because it is not suitable for them but they don't want to accept it and continue trying to make it work and fail.
although you may not belong to that category, being affected by emotions is fine for beginners but as long as you are aware that this is something that you should get rid of and start being more of a solid logical trader instead.

It is even just an easy explanation when it comes to needing a trading plan. If you fail to plan, then you plan to fail! Plans are there to guide you on your market decisions which if you end up not having them, it always will not end up turning out well in most cases.

Also, there is no plan without discipline. It is one thing to have a plan and it is another thing to have the basic necessary skills in place to be able to execute them without emotions. A lot of people may have plans but they still fails because they lack the discipline to execute them properly.

[LogitechMouse]

I agree that having a trading plan will help you in crypto trading but for me as a trader, I don't use any trading plans or whatever.

Every time I buy or sell, I'm thinking of 2 - 3 situations that may happen. For ex. If I buy at x sats and get filled: 1. I will wait for 1% -2% rise before I sell.  2. If in case the price of the coin will go down into my buying price, I will wait for it to go up again or will buy again in a lower price to average down.

I always think of situations that may happen in trading. In this fast moving market, plans are not that helpful for me.

[Yusuf77]

because the plan will determine the fate of our trade later. We must prepare a good and correct plan so that we do not experience losses when trading. emotional control and staying calm will further enhance our trade.

[Yamifoud]

Plan will serves as a guide for a compilation of a certain goal.  We've been looking for a better a opportunity in trading fields but it won't work if you didn't have even a  simple that will help you. More people get lost and mislead due lack of knowledge and don't have plan, though.

[jambul_kribo]

Plan are important to start doing anything people they want to adopt in their life
In trading plan are also helpful depends on the traders strategy
I think plan is useful for the long term trade and for me plan aren't advisable for the day tarde
Because day trade are need quick decision making which coins are potentially to grow in an hour so on

Of course it will be very important. the plan can contain many things such as strategy, what you do when the price is beyond your expectations, then the target price that you will achieve, and so on. it is included in your plan. make your plan so you know what you will do. so you are not confused when something happens on the market

trading plan one of key success in crypto trading.many important note in our trading plan that said our plan in market.even worst condition plan must written in our trading plan.

[heninur]

everything that is planned will certainly run very regularly and directed because in a plan we have made our own theories to achieve success, even though sometimes the plans do not fit reality, but at least all trade work is more directed.
in a plan, we will prepare to start, do and get results. if we don't have a plan, then everything feels unclear.
this may be a bit of my thinking.

[bitbunnny]

If you have defined your trading plan with clear goals and set limitis for funds you can trade it's more certain that you have also diminished the risk of losses (at least big ones) and that you will not make some random and fullish decisions.
And in any moment you can make some changes and adjust your plan according to your needs, profit or losses you have made or anything else. Anyway, it's good to know what you want to achieve and how will you do it.

[CoinFoxs]

Trading plan help in saving a trader from the loss in many ways, Every trader wants to get huge profit in one day or two which can be dangerous most of the time so if there is a plan for trading then trader know that he should invest only the amount which he has written in a plan. And when he lost his money then he should stop trading on time and don't waste or loose some more amount in recovering the previous one. It also helps in getting good profit by investing only in potential currencies.

[anume123]

That's a normal to know all traders have a trading plan to start in trading because getting into a trading is not easy like playing games because tradinh is like a gambling.

[Finestream]

everything that is planned will certainly run very regularly and directed because in a plan we have made our own theories to achieve success, even though sometimes the plans do not fit reality, but at least all trade work is more directed.
in a plan, we will prepare to start, do and get results. if we don't have a plan, then everything feels unclear.
this may be a bit of my thinking.

I agree.Trading plan is very important for traders like us because it will serve as a clear guidelines on what to do in trading,their do's and dont's.Trading will be likely to end up being profitable if we have set our target goals and it will only be succeeded once we have followed correctly our trading plan.

[Meowth05]

Simply just because we could have a guideline for our move not just doing anything you like without analyzing the situatiom like we have now. Plan is one of the most important in this field because without it we can make worse decision that we don't want to handle in the future. Besides, planning is a best strategies to lessen the risk we have.

[electron-coin]

Good advice, but in practice it is very difficult for a person to describe it all. Even if the trader describes all this and draws up a plan, but the situations develop differently each time, so I consider it impossible to fulfill the previously set plan (plan in the sense in which you describe).
I would suggest simplifying the whole plan. Of course, a trader should know himself well and understand his weaknesses. I suggest that traders, after analyzing the price of a coin and its purchases, immediately place a stop loss order and take profit order. This should discipline the trader and will provide him with a stable income and minimal losses. If there are no such orders on the exchange where the trader works, then trader need to constantly monitor the price and, if necessary, manually activate the plan.

[Indrawan77]

We certainly need a trading plan when we want to become a good trader, trading plan could help us to analyse the strategy that we used, so it can help us to create more effective strategy for the next trade, in trading financial management is very important, with trading plan we could set a better financial management

[astridwi]

everything should have been carefully planned including trading because this is not gambling that relies on luck, successful trading is clear planing, discipline of all rules that have been made, minimizing decision making with emotions, analysis and support from news will give you multiple profits double in trading