WHY DO WE NEED A TRADING PLAN ?

[zaarariba]

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

It is so important for altering ur perspective on trading, i follow only exchanges who provide such material base

[Homorton]

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

It is so important for altering ur perspective on trading, i follow only exchanges who provide such material base

Anything specific on ur mind? I wouldn’t mind following such ones

[omonuyak]

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.

Without proper plan in place you cannot succeed in trading.  It is your plan that do expose you to trading opportunity that will not milk your funds.  Many people and traders jump from one strategies to another because of lack of trading plan and as such lose money.

[Kelvinid]

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.

Without proper plan in place you cannot succeed in trading.  It is your plan that do expose you to trading opportunity that will not milk your funds.  Many people and traders jump from one strategies to another because of lack of trading plan and as such lose money.

I'm not a kind of person who just stick to one strategy, I used to think what should be the best strategies in a certain situation. We need to be an effective trader and this may help me to be not out of the race and so my plans will subject to change at any time (plan A and B). This is very important and to know which one is effective and applicable to the current situation.

[Aivaryamal]

In trading, the plan is necessary, as it helps not to depart from the goals and it is always convenient to see how many percent of the profits you need to get to earn a certain amount, otherwise a person will not feel the results of their activities and carefully dissipates

[Johnzky]

I simply needs the plan to learn my investments progress if i am earning or not,i also need a plan for every steps of my investments journey in every profiteering i engaging and so far all i can say is good and better than nothing at all.
I also use this same planning for my daily living and putting plans from a to d for much appreciated future

[Dr.Osh]

In trading, the plan is necessary, as it helps not to depart from the goals and it is always convenient to see how many percent of the profits you need to get to earn a certain amount, otherwise a person will not feel the results of their activities and carefully dissipates

well, it's like planning what to do. when you don't plan what you are going to do, it makes the possibility of risk getting bigger. it's not different from trying or gambling. therefore, the strategy is very important.

[btcmegastar]

We are investing our precious money into trading, so we need to have a plan for trading because before investing we need to some rules otherwise, we might sell them for low prices. Even sometimes we might lose our patients due to the market situation, so in these cases, we have to be very strong.

[Sum24]

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

Working without plan is not good as you said we will have to make plans even for our daily routine life, as there are so many things comes across our trading journey so we can change our decision accordingly, but it is very important to have plan for trading, make sure you are gonna trade for long term and never sell in hurry or at panic, holding until it rise higher.

[ApocalypseNow]

I have made some trading plans before but because the market is always unpredicted, I stopped doing it and just adapt accordingly. I have plans like buy this or buy than for only this amount but I end buying again because it dip a little more. And another one on selling is you can  miss more profits if you sell or you'll just miss the profits if you hold more so my plan can be useless anytime.

[Caladonian]

In trading, the plan is necessary, as it helps not to depart from the goals and it is always convenient to see how many percent of the profits you need to get to earn a certain amount, otherwise a person will not feel the results of their activities and carefully dissipates

well, it's like planning what to do. when you don't plan what you are going to do, it makes the possibility of risk getting bigger. it's not different from trying or gambling. therefore, the strategy is very important.

Which is most of the time  effective for traders who value their money, following all of those plans and maintaining your sets of goals will let you lessen the risk, it's giving you hint when market is favoring you or it's against your position, you need to be precise and concretely following all your goals to maximize everything according to the plans.

[Gaff]

Trading plan could provide us a desired guide on how to manage an asset, whether the price dumped or pump a better price. If you're holding a long term asset you needed to wait for several months in order to gain a profitable value in order to sustain in the long run. Don't apply day trading using buy and sell method when you find that asset has no progress at all. Planned investments could have positive impact on each and every milestone of your trading career. If you're doing every strategy in accordance to your will and perseverance, one day you'll be one of the successful person full of skills that cannot be stolen. Because being a trader isn't just a trial and error but a serious task that involved money.

[Sum24]

In trading, the plan is necessary, as it helps not to depart from the goals and it is always convenient to see how many percent of the profits you need to get to earn a certain amount, otherwise a person will not feel the results of their activities and carefully dissipates

well, it's like planning what to do. when you don't plan what you are going to do, it makes the possibility of risk getting bigger. it's not different from trying or gambling. therefore, the strategy is very important.

Yes if we will have plan about what we are doing we will reduce the risk, we will know what will have to do at the movement of the market, we will have to make plan that how long we are going to hold and how long we can take it as saving, and trading is good for long term trading saves our money from suffering lose, we should know when buy and when to sell.

[fasdorcas]

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.

Yes that is right. You just cannot start trading at once without have prior information and experience about the market. It needs you to be consistent and patient and you could only make big if you speculate for long term. I say that because in the short term, the decision making power of many people who are new in the market is very down and they loose the money by deciding the wrong thing. So little money for trading makes you good at it. Try big afterwards.

Everything within trading should be done after a planning for it. It means we should not make a decision on the spot. We must take time to analyze so that we may study its pros and cons and only when pros is having more weight then we may start implementing/executing it. Yes, we always need trading plan for every action of trading.

[Coin-Desk]

We need a trading plan because without a trading plan we cannot achieve success in trading from trading. Everything is needed for proper planning and when there is a question about trading then there is no other way than proper planning. Trading is a very difficult job and it is more difficult to earn with this work. If we do not have the right planning for trading then we have to face financial losses. So, we should take proper planning for trading.

[jrrsparkles]

Trading plan could provide us a desired guide on how to manage an asset, whether the price dumped or pump a better price. If you're holding a long term asset you needed to wait for several months in order to gain a profitable value in order to sustain in the long run. Don't apply day trading using buy and sell method when you find that asset has no progress at all. Planned investments could have positive impact on each and every milestone of your trading career. If you're doing every strategy in accordance to your will and perseverance, one day you'll be one of the successful person full of skills that cannot be stolen. Because being a trader isn't just a trial and error but a serious task that involved money.

Long term trader doesn't need any trading plan other than how much profits you aiming for but short term and day trader definitely need the strategy  for the current maket condition.Just holding until the price increase isn't for trader they need to pull out profits even when the market is dull and bearish.

[TheTradeRoom]

⚠️ if you are holding any altcoin just hold it at all cost and don't sell with loss.
For now you should stick on these 4 coins until btc get stable.
#BTC if it goes to +5600 convert it to #USDT
#BNB can enter it around 38k-39k
#ENJ can enter it without worrying@2850-2900 will hit ATH after btc get stable
#WABI can enter it @5800-5900

If you entered #WABI #ENJ # BNB as soon as you see 3%-5% gain book your profit because btc is still unstable and gaining 5% in this condition is excellent otherwise if you want more profit just buy them and close your binance app for a week until market recover

Have a look at my trading signal thread where you will find good timely signals .

[Siren]

We need a trading plan because without a trading plan we cannot achieve success in trading from trading. Everything is needed for proper planning and when there is a question about trading then there is no other way than proper planning. Trading is a very difficult job and it is more difficult to earn with this work. If we do not have the right planning for trading then we have to face financial losses. So, we should take proper planning for trading.

Thats enough explanation on how Planning might help us,and the main reason of why trading plan is needed in our daily living?because life must be optional because nothing is permanent in this world and specially in cryptocurrency where volatility is always in action so with Plans Incase things go wrong still we can have option to recover.
Always put plan above everything for better future of our investments here in crypto and in our life

[Best Dreams]

In trading, the plan is necessary, as it helps not to depart from the goals and it is always convenient to see how many percent of the profits you need to get to earn a certain amount, otherwise a person will not feel the results of their activities and carefully dissipates

well, it's like planning what to do. when you don't plan what you are going to do, it makes the possibility of risk getting bigger. it's not different from trying or gambling. therefore, the strategy is very important.

Yes if we will have plan about what we are doing we will reduce the risk, we will know what will have to do at the movement of the market, we will have to make plan that how long we are going to hold and how long we can take it as saving, and trading is good for long term trading saves our money from suffering lose, we should know when buy and when to sell.

It is not good to start anything without proper plan so specially in crypt currency trading we will have to make good plan and then start, now a day price is really good so we can make a plan to invest some money in trading, later on we can make plan to hold according to the price change, if we will have proper plan we will not get worry about the marker changes.

[fasdorcas]

Long term trader doesn't need any trading plan other than how much profits you aiming for but short term and day trader definitely need the strategy  for the current maket condition.Just holding until the price increase isn't for trader they need to pull out profits even when the market is dull and bearish.

Of course the long term traders are not much hurt by the bear market even if they do not have a plan but it is important to have an insight into the future of a particular coin in the market.

Investing in a coin that does not have any future or has a bad project is more like a suicide and here is why you need to be curious and strategic about the coin selection. Once you have some good coins in your wallet, holding for long could be instrumental in giving back great returns.