How Visible is your trading plan

[Yaunfitda]

Maybe in the beginning, when I was a newbie, or just starting out, I usually write my trading and then go back and see where I got it wrong or where it went right for me. But as I have matured and gain experience, I barely write it down now, maybe I'm not that huge a trader as before as I just continue to buy and do DCA for my crypto investment.

But yeah, I would say that it might be better to jot it down so that you can have something to go back to see and then make some crazy adjustments so that you can have the 'perfect' strategy.

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[Mpamaegbu]

I used to write my trading plan down on a note paper when I newly started and would consult it when perplexed. This day the whole plan is at my finger tip, ingrained in my mind. All I've to do now is run a check when I get series of losses to ascertain if I'm still on course. As it's the case, a lot of trading plans fail during ranging markets but will do well during rallies (both in bull and bear).

[so98nn]

This is an interesting question question really, and I think every hardcore trader must be having such big plans, goals on their minds to keep up with their trading race. However, for me I am just keeping it very simple, trade and earn profit and keep moving towards next profit slot without hampering my money balance. If I end up with some losses then I would quit the trading for many days and they recalibrate myself to hit the profits one more time during that period. I am not hardcore trader so may be I never had plans or I am not someone who will wake up in the morning and say, lets get started, I will make 10K USD today with my bitcoin day trade or futures trade etc. For me it is all about the experience, fun and some profits along the way.

[kamvreto]

You would really be needing lots of back up plans when you do deal with an unpredictable market and you shouldnt stick into a single plan because it is really that bound to fail up and you should really be that versatile

if you do consider yourself to be a real trader because we know that dealing off with something unpredictable does really need up lots of back up plans if one of your analysis do fails, then it would really be just right

that you should really make out some adjustments or simply trying out to cope up on something.Trade and try to be sustainable as much as you could which it would be normal
that you would be preparing for that.

I only limit 1 to 3 trading plans, if too many trading plans are made it will also become a burden and cannot execute properly. In general, 2 trading plans are enough and the first trading plan must be maximized properly.
When the market comes with bad conditions, we might still be able to hold on and wait for the right moment to start executing it. And also remember that as I mentioned before psychology is quite important because it will affect how the final trade is made.

[BitDane]

Indeed we need our trading plan very visible so that we can check its accountability, objectivity, consistency, and derive learning from them.  If we are able to see our trading plan, it will help us in terms of information and effective decisions and since we have records of everything, we can achieve a better result in the long run.

I just realized that my trading plan isn't visible as I think it is, so I guess I need to have a closer look in it and record everything and learn from every information I can get.

[Inspiron14]

You would really be needing lots of back up plans when you do deal with an unpredictable market and you shouldnt stick into a single plan because it is really that bound to fail up and you should really be that versatile

if you do consider yourself to be a real trader because we know that dealing off with something unpredictable does really need up lots of back up plans if one of your analysis do fails, then it would really be just right

that you should really make out some adjustments or simply trying out to cope up on something.Trade and try to be sustainable as much as you could which it would be normal
that you would be preparing for that.

I only limit 1 to 3 trading plans, if too many trading plans are made it will also become a burden and cannot execute properly. In general, 2 trading plans are enough and the first trading plan must be maximized properly.
When the market comes with bad conditions, we might still be able to hold on and wait for the right moment to start executing it. And also remember that as I mentioned before psychology is quite important because it will affect how the final trade is made.

Yes, I also think that the 2 trading plans are enough with the condition that we have mastered them so we can use and maximize them,
but again everyone has their own decision,
once again we must remain calm in the face of all market conditions.

[Peanutswar]

We have didfferent strategies to execute those positions in my perspective I have a tons of papers to make a trading confirmation and verify those once i saw a possible position or profit gain with that particular movement, and of course, as always i do stop loss and take profit those basics really have a huge impact in your trades no matter what happens you can make a set up to get profit and preventing too much loses many people opening their margin so they could make more wait and hoping to get a bounce back.

[xSkylarx]

I just make a note from it on sticky notes on my PC but just those important parts, like I, need 3 confirmations before I trigger the trade and those 3 confirmations should be written on those notes. But most of the time I don't see it since it was already in my mind but mostly when there are tweaks or I learn new things that can improve my trading style I really wrote it in sticky notes and before I trade I will re-read it until I can now memorize it.

[crwth]

Understanding is the most important thing you must have when trading in this market. Understanding that you can make mistakes and it's not going to always be in your favor. Emotions would also be high when you make a mistake, and controlling that would be another key to success in trading.

You should take action or review some of the things that could help with trading below.

• Develop measured goals that you can be specific with and what you plan to achieve in trading
• Have thorough research on what you are investing in
• Lessen your risk by diversifying
• Be patient with your trades, and don't be emotional
• Stick to your strategy

[Findingnemo]

I don't have a flowchart or triple monitor setup for trading, I just trade from my mind and it works most of the time but I want to remind you something I am strong with the basics of trading an investing also I am sure that I will follow the basics at all my decisions so never cared about writing it on paper and keep seeing it every day to observe it or it may come with bitter experience or at least to me.

I keep it simple, buy an amount and set my target price when it hits I go for sell and I keep all these separate from my day trading and investments of long term.

[stadus]

You can't just put them anywhere other than remember all of them and apply them accordingly suitable to the market condition.
Because no matter what you do with your strategies but if not perfectly used, it makes no sense at all. It only becomes visible (for me) if that will work according to our plan. Traders won't just rely upon strategies but also have to work on their judgments. Many traders had fail to do this because they are too reliant on what is written on their notes and what is been seen online.

[kamvreto]

Yes, I also think that the 2 trading plans are enough with the condition that we have mastered them so we can use and maximize them,
but again everyone has their own decision,
once again we must remain calm in the face of all market conditions.

Being calm and not panicking when the market is shaken is very necessary. If you panic too much, it will destroy all trading plans. Everyone has their own decision, but don't get too confident thinking the market will still be fine. Stop loss is needed when the market drops from the lower limit we planned. Using a stop loss will result in a larger stop loss. Several trading plans are also supported by good analysis and Fundamental Analysis.

[RealMalatesta]

Indeed we need our trading plan very visible so that we can check its accountability, objectivity, consistency, and derive learning from them.  If we are able to see our trading plan, it will help us in terms of information and effective decisions and since we have records of everything, we can achieve a better result in the long run.

I just realized that my trading plan isn't visible as I think it is, so I guess I need to have a closer look in it and record everything and learn from every information I can get.

I think it's only advised if we have some kind of amnesia where we can forget things easily but usually after we plan up a thing, it's already recorded in our head and we will just initiate them depending on the market condition. Also, the word consistency is I think not a written plan but it should come with us personally. We need to stay consistent on what we are doing if we want to succeed with it.

It's always better to be independent and do not just trade because you have a trading plan beside you. I don't know why but it looks like you are a student in a school who are cheating when there are exams and quizzes. That's what I see it.

[palle11]

but only a few care about some minor things that can help improve their trade and ensure they are implementing the right strategy for every trade they make.

Little things matter in trading and this is why I like this aspect of the post. Some losses that we encounter can be because of little things that we don't put or do right in our order. Things like having patients before taking out your trade is important. Being careful to do a detail analysis can set you right on your trade instead of being in a haste and afterwards regretting taking the trade at that time.

[wxa7115]

Making profit is the goal of every trader whether they are doing it right or wrong. All traders wish to pull out massive funds from trading but only a few care about some minor things that can help improve their trade and ensure they are implementing the right strategy for every trade they make.

Trading plan is one thing that cannot be neglected and for better result it best when it is visible. It is the vision a trader runs with. If a trader fails to plan such trader eventually plans to fail. When the heat of the market sets in we often forget our plans and trade from what ever our instinct suggests. But with a written plan it will be easier to set goals, targets, limits, strategies and expectations.

The more we see our plan the more we adapt to what it says, the more we understand our strategy and the clearer the result becomes. It helps in references on how productive those strategies are, if they need t be changed, improved upon or modified. Sometimes trading from our instinct come with so much emtions attached and we might want the market to do what we expect and not what it wants to do.

On the early stages when you are just studying the market and trying to figure out what is the best strategy you can follow, writing down your strategy is important not only as a learning tool but also as a way to help you to keep track of the changes you have made to your strategy over time.

If you do this and then you take a look at those pages you will realize how much you have improved over the years, however once you gain more experience you get to a point in which this is not necessary as your strategy is deeply ingrained into your mind already.

[kapalmabur]

Making profit is the goal of every trader whether they are doing it right or wrong. All traders wish to pull out massive funds from trading but only a few care about some minor things that can help improve their trade and ensure they are implementing the right strategy for every trade they make.

Trading plan is one thing that cannot be neglected and for better result it best when it is visible. It is the vision a trader runs with. If a trader fails to plan such trader eventually plans to fail. When the heat of the market sets in we often forget our plans and trade from what ever our instinct suggests. But with a written plan it will be easier to set goals, targets, limits, strategies and expectations.

The more we see our plan the more we adapt to what it says, the more we understand our strategy and the clearer the result becomes. It helps in references on how productive those strategies are, if they need t be changed, improved upon or modified. Sometimes trading from our instinct come with so much emtions attached and we might want the market to do what we expect and not what it wants to do.

On the early stages when you are just studying the market and trying to figure out what is the best strategy you can follow, writing down your strategy is important not only as a learning tool but also as a way to help you to keep track of the changes you have made to your strategy over time.

If you do this and then you take a look at those pages you will realize how much you have improved over the years, however once you gain more experience you get to a point in which this is not necessary as your strategy is deeply ingrained into your mind already.

True and it seems trivial, but if we don't do that, of course we will easily forget,
but for those who really have a lot of experience I don't think they need it,
which obviously all depends on each of us.

[Kgdktac]

A trading plan is extremely important for a trader. It serves as a roadmap for the trader, outlining their goals, risk management strategies, and the methods they will use to make decisions about buying and selling securities. A trading plan helps to keep a trader on track and focused, and can help to prevent impulsive or emotional decisions that can lead to losses. Additionally, having a plan in place can make it easier to evaluate the performance of the trader's strategy over time and make adjustments as needed. In short, having a well-defined trading plan is essential for long-term success in trading.

 All that said my trading plan is non existent as I trade by impulses.

[michellee]

True and it seems trivial, but if we don't do that, of course we will easily forget,
but for those who really have a lot of experience I don't think they need it,
which obviously all depends on each of us.

That's why we often have to practice a lot to improve our skills in trading and make a trading plan. Gaining profits is the target of every trader but only a few traders can earn it and only experience losses from time to time. If they don't change their trading style and don't want to learn and practice, it will be useless because it won't give any results. Try to learn about strategies so that you can understand trading lessons and can improve your trading skills.

[Questat]

I used to write my trading plan down on a note paper when I newly started and would consult it when perplexed. This day the whole plan is at my finger tip, ingrained in my mind. All I've to do now is run a check when I get series of losses to ascertain if I'm still on course. As it's the case, a lot of trading plans fail during ranging markets but will do well during rallies (both in bull and bear).

As it was becoming habitual, it was easy for you to decide what you gonna do next. Being consistent with the plan is a big factor that could help us to earn more. A lot of traders lost their money not only because of being inconsistent but also because they fail to become mentally strong when making decisions during the market crash.

Trading is not all about trading plans but also it needs persistence and more patience. Having all of these things, therefore to say that trading is just an easy life for you then.

[virasisog]

I always trade from my mind and I make sure that I have the right mindset which focuses on making the right decisions in trading to make a good profit. I don't aim to get rich quickly but my goal is to trade successfully.
Trading plans will be nothing if we can't follow all the right steps to trade wisely. We also need to learn continuously for us to reach the target goal that we want. From choosing the potential coin to setting a target profit and so on, we need to be disciplined by focusing on our goals and plans and not trading based on emotions.