WHY DO WE NEED A TRADING PLAN ?

[qmclak]

We need plan in order to calcluate the risks we take on trading. We should plan if the coins we buy is for longterm or short term and we must know when we cut loses.It's important for us to know the basic rules on trading too. We should also know how to control our emotions as well.

[Mpamaegbu]

You fail to plan, you plan to fail, is an expression that should answer the OP on the need for a trading plan. Trading is tedious even with a trading plan let alone when there isn't a plan. With plans mapped out, it should give the trader the parameters to check and help them control their emotions while trading.

[Micerker]

Trading is like a battle, so you need plans to win this fierce battle. The Crypto market is constantly fluctuating, and you can make a lot of money in a few hours but you can lose the opportunity if there is no perfect plan.

[posi]

For trading, we should always need to have different plans because without planning it is impossible for us to make profits. I have failed many times without any proper planning because it may fluctuate our mind whether the price will go down and this makes us think of panic selling.

I dont see any reason why a crypto traders need a trading plan since the crypto market is full of opportunities and it can leap to any directions any time but I think it most important for trading is seeking knowledge and the study of previous market trend because there some certain trend in the market which usually reoccur.

[Ipwich]

For trading, we should always need to have different plans because without planning it is impossible for us to make profits. I have failed many times without any proper planning because it may fluctuate our mind whether the price will go down and this makes us think of panic selling.

I dont see any reason why a crypto traders need a trading plan since the crypto market is full of opportunities and it can leap to any directions any time but I think it most important for trading is seeking knowledge and the study of previous market trend because there some certain trend in the market which usually reoccur.

Trading plan is necessary, it's like a game plan and you follow that when you are trading.
You cannot make a working trading plan if you don't have the knowledge about crypto, so you need to educate yourself first.

it's true that there's a lot of opportunities, but it cannot be denied that it's full of risk here as well.

[Ellen Adarna]

We need a trading plan for us to lessen our risk to get a low profit because we cannot say when will the market will go up and down, that is why we should always have a back up plan for us not to have any regrets. Right now, I am interested to use a a good trading platform which is Darb finance that it is a wallet and an exchange of fiat and cryptocurrencies, you can easily convert all of your fiat into cryptocurrencies here and vice versa. Finding a good trading exchange is also a good trading plan for you to be secure and be confident to do trading.

[tonyja2017]

I really read too many of these rules. but for the crypto market, you cannot apply most of the above rules. because the decentralized market always has very absurd things and we need to follow it if we don't want to die. In my opinion, new traders should try to invest in small amounts, they will learn faster instead of reading too much.

[rose9696]

This is truly a real experience from an experienced trader. I really realized my mistakes when trading recently. I need to note this article again to read it every day. repetition will definitely help us remember it very well.

[Coin-Desk]

Yes, of course, we need a plan for trading. Because no work can be done without planning. And trading is a very complex and risky topic, so before trading, you need to have a good plan. The right plan makes the job easy. So I think planning is a must to succeed in trading. Not just trading, planning is necessary for all purposes. So we need trading. According to the plan, there will be a success in trading.

Thank you

[zhekinsp]

Trading is like a battle, so you need plans to win this fierce battle. The Crypto market is constantly fluctuating, and you can make a lot of money in a few hours but you can lose the opportunity if there is no perfect plan.

There is no perfect plan in trading as well,just use the current state of cryptos into your side by buying or selling.Plan can be defined as our goal too in trading without having proper target to achieve we can't aim anything so set a prior target and march towards it.

[Denton]

You're right. Also, the trading plan will be a good way of self-motivation and will help to make your trading more consistent and structured. Having a trading plan is very useful.

[Twinkledoe]

Trading is like a battle, so you need plans to win this fierce battle. The Crypto market is constantly fluctuating, and you can make a lot of money in a few hours but you can lose the opportunity if there is no perfect plan.

There is no perfect plan in trading as well,just use the current state of cryptos into your side by buying or selling.Plan can be defined as our goal too in trading without having proper target to achieve we can't aim anything so set a prior target and march towards it.

I don't think a well-designed trading plan works for pump and dump coins. You don't need any of that sort to gain profit from those crap coins. Just know the right time when to enter and exit. But you will be unfortunate if you are late for the party, you will be a bag holder instead.

[sijonru]

Trading is like a battle, so you need plans to win this fierce battle. The Crypto market is constantly fluctuating, and you can make a lot of money in a few hours but you can lose the opportunity if there is no perfect plan.

I believe something carefully planned can give maximum results compared to doing something without a plan. This also applies to crypto trading which is very draining because the price often changes so that in making that decision it must be correct.
In crypto trading, you cannot rely on mere feelings, but must be in a smart way of thinking and a strong level of emotional control, so that decisions are made when the trade is profitable.

[annango]

Trading is like a battle, so you need plans to win this fierce battle. The Crypto market is constantly fluctuating, and you can make a lot of money in a few hours but you can lose the opportunity if there is no perfect plan.

I believe something carefully planned can give maximum results compared to doing something without a plan. This also applies to crypto trading which is very draining because the price often changes so that in making that decision it must be correct.
In crypto trading, you cannot rely on mere feelings, but must be in a smart way of thinking and a strong level of emotional control, so that decisions are made when the trade is profitable.

I don't know whether or not a person can get a maximum results with a plan, but working with a plan will help us do everything in order and may get rid of confused. For me, working without a plan is like working without a purpose, you will quickly lose your way. Not only in crypto market, but also in all kinds of jobs in life. In addition, when you make a plan, you even save lot of time. Anyway, making plan is a virtue in doing anything, so we'd better form and maintain this virtue.

[Ranly123]

Trading plan helps us to accurately gain from out trades. Without planning, we might end up lossing on our trades which is not a healthy indication for a business.

[BigBos]

You're right. Also, the trading plan will be a good way of self-motivation and will help to make your trading more consistent and structured. Having a trading plan is very useful.

maybe we can become less confident with the plan we have made. well, I always do that before starting my business. the strategy is also able to help us in setting goals, and avoid the risks that can destroy someone.

[Kasabus]

Trading plan helps us to accurately gain from out trades. Without planning, we might end up lossing on our trades which is not a healthy indication for a business.

This should not be ask in the first place, it's already understand, when you are trading you need planning, it's a basic thing every trader has to do.
Even newbie needs to have a trading plan, that's our guide in what we do, that's very simple to understand that it's necessary.

[Siren]

Trading plan helps us to accurately gain from out trades. Without planning, we might end up lossing on our trades which is not a healthy indication for a business.

This should not be ask in the first place, it's already understand, when you are trading you need planning, it's a basic thing every trader has to do.
Even newbie needs to have a trading plan, that's our guide in what we do, that's very simple to understand that it's necessary.

Actually not even in trading plans are needed,in our daily life we also need this so from this point of time everything that involves our life needs to be planned
And its not also for newbie or old times,because this is a obligatory if you need to profit here

[geegaw]

Trading plan helps us to accurately gain from out trades. Without planning, we might end up lossing on our trades which is not a healthy indication for a business.

Indeed, the plan will create accuracy for our work when we know how to handle situations in the market, we will not need to be too hasty or anxious when faced with special or unexpected situations because it has always been in our plan. In addition, with such a clear set up, our work achieves good results and doesn't waste too much time, limiting a lot of losses because when we don't have a trading plan, we are often very pressured and difficult to make decisions, which creates many wrong decisions and creates damage.

[Homorton]

Great article! We really need it all, especially concerning market analyzing