Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: laubeaud on August 02, 2024, 10:42:34 AM
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A trading plan is crucial because it provides a structured approach to trading, helping you make informed decisions and avoid emotional reactions. My trading plan outlines my goals, risk tolerance, entry and exit criteria, and strategies. This helps me remain disciplined and focused.
By defining entry and exit criteria, a trading plan has helped me manage risk effectively and maintain consistency in my trading.
Additionally, it has allowed me to evaluate my performance, learn from mistakes, and adapt strategies as market conditions change.
Ultimately, a trading plan is essential for achieving long-term success in the financial markets.
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It is good to have a trading plan. It can help someone to remain disciplined in trading. If you are doing something against your trading plan which could be as a result of emotion, you will know that you are doing something wrong.
Are you making money from trading?
Can you let us know about your trading plans?
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Trading plans can't really be overemphasized because it's essential that traders should strategies to the trends of the digital market which volatility nature has potentials of stabilize and distabilizations of traders goal.
So, setting up a trading plan is building an immune to dialogue at the markets disputes to maintain sustainabilities despites the fluctuations while you approaches your goal.
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Without a trading plan, you are risking your assets and uncalculated risks usually lead to losses, so your trading plan must include a strategy for determining risks and entering and exiting trades. Preparing a good trading plan does not mean making profits, but without an actual trading plan, you will most likely make losses.
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Ultimately, a trading plan is essential for achieving long-term success in the financial markets.
Any plan you make must be flexible,, because plans that are rigid are difficult to stay by because of obstacles and certain challenges that may arise.
Make your trading plans flexible to accommodate any challenges or obstacles that you may face. Also, when you make a trading plan, if the first plan does not work, make a second.
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A trading plan is crucial because it provides a structured approach to trading, helping you make informed decisions and avoid emotional reactions. My trading plan outlines my goals, risk tolerance, entry and exit criteria, and strategies. This helps me remain disciplined and focused.
By defining entry and exit criteria, a trading plan has helped me manage risk effectively and maintain consistency in my trading.
Additionally, it has allowed me to evaluate my performance, learn from mistakes, and adapt strategies as market conditions change.
Ultimately, a trading plan is essential for achieving long-term success in the financial markets.
As they used to say that any plan you failed to make, then you must have plan to failed. Not only trading, everything about life need planing but what made trading plans more better is because it's has a guide which you must follow to be able to achieve a maximum profits and helps you to minimize your trade, without trading plan then you are gambling.
Imagine wanting to trade and you just buy a coin without even doing fundamental and technical analysis, the way you are going to lose money would hit hard than meme losses unless you are buying coin to hold for long term and even that one requires fundamental analysis.
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Discipline is the core element in trading to be successful. In trading, you must create your own plan regarding your capital and your time, and I think every trader should follow the same principle. In fact, I wonder why some people do not create their own trading plans.
A plan works like a protector; it secures you from loss, emotion, and greed. A plan makes you disciplined in how to control your emotions related to greed, as well as your profits and losses. Every person should create their own plan and start working on it if they have not done so yet.
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Planning for trading is essential because it gives ease to decide accurately with a calm mind and this is important because we will take profit with the exact same value which we have decided as a result of which our greed will be hidden.
One should think about the trading plan prior to initiation and this plan should consist of buying and selling price, specific token and searching the details about it, strategies which will be profitable if apply in a better way and better time so overall plan should be kept in mind to carry trade in a comfortable way.
Planning for money is also crucial and it should be organized well so if something bad happens then you will be ready for further planning. One should not trade all the time but specific timing should be planned due to which loss will be minimum and one can learn well until that specific timing again arrives for trading.
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Planning for strategies or any relevant or correlated things will really be something normal or something that would really be standard. It would really be just that recommended
that you do really need to prepare for you to have that kind of step or approach because having no plans on dealing up with something will really be just that like gambling
and its not something that would really be that recommended. This is why it would really be that important that you should really know on what you are doing
because dealing up with trading specially on a volatile space does really require up such stategy and plans.
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Imagine wanting to trade and you just buy a coin without even doing fundamental and technical analysis, the way you are going to lose money would hit hard than meme losses unless you are buying coin to hold for long term and even that one requires fundamental analysis.
I read some statistics that say that the best traders are those who do nothing, that is, buy an asset and then sell it after a while, but if you do not have a strategy to buy the right asset, no matter how good your trading plan is, you will end up with losses or the least possible profits. So, planning for trading is not related to technical analysis, but from the moment of selection.
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Having a plan is essential in any field, especially in trading. If you want to succeed in any field, you must have a successful plan. In trading, you cannot work randomly, you must have a plan.
But in order to have a successful trading plan, you need to learn and understand the basics of trading, risks, etc., and then you develop a trading plan based on the data and knowledge you have. If you do not have the basics, you cannot develop a successful plan.
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A good trading plan helps you make money over time. But not all plans work. Some traders make plans that are too hard to follow. So, It's better to have a plan you can really do. That's why it's essential to create a realistic and achievable trading plan rather than just a plan for the sake of having one.
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Don't forget to prepare a backup plan (Plan B, Plan C , till Z if it possible).. even though we are good at making plans, sometimes the final result is always not in accordance with what we expect, so it is also important to make a layer plan so that we do not experience a big loss when it turns out that the results of our plan are not in accordance with what was expected...
And the most important thing is action and discipline,... a mature plan must be perfected with action and discipline so that everything can run well.
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A plan becomes good when you have a good outcome. And I agree planning your entry and exit is a must. A lot of traders suck with the idea of having good plans but never followed it. That is why if you can be consistent of what you have planned for and you are making monet decently, then congratulations to you. But as a reminder, not everyone who has plans able to follow it accurately.
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It's a good step to maximize and verify if you are building a good practice for trading. I think the mindset also has an important aspect that you need to consider because it's going to be hard to see if it's all red, like how the market has recently. Imagine checking it continuously; it's not healthy.
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Good trading plan have good result in cryptocurrency trading, many people just following the other when trading in cryptocurrency without looking potential for long term with their trading plan. One important trading plan is spent left with capital and not all in for buying altcoin or bitcoin.
Can't predicting with bad moment or bitcoin suddenly crash and we still have capital get good moment to buy back, but if some one all in their fund seems less possibility will get moment to buy back when bitcoin or any altcoin get most lower price and dump drastically.
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It's a good step to maximize and verify if you are building a good practice for trading. I think the mindset also has an important aspect that you need to consider because it's going to be hard to see if it's all red, like how the market has recently. Imagine checking it continuously; it's not healthy.
It only depends on what type of trading will be applied, if the OP always checks constantly maybe he will do quick trading or scalping which requires focusing on monitoring prices and market conditions at all times.
But if the trade is long-term, it only needs occasional monitoring before the main price target is reached.
Mindset is indeed an important aspect to be able to determine whether to take profits in the short term or the long term.
Just need to adjust to each other's abilities, don't be too pushy.
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Importance of trading plan is essential. A trading plan is a specific guideline, which makes your decision-making process easier while trading and it helps a lot in controlling emotions. A trading plan allows you to predetermine how much risk you are willing to take. Which is very important during trading. And it helps you clearly define your goals while trading. Also with a trading plan you can always be prepared for market reversals and close trades at the right time. In general, trading plan is very important. If you make a proper trading plan and trade, then the risk of trading will be reduced a lot.
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Importance of trading plan is essential. A trading plan is a specific guideline, which makes your decision-making process easier while trading and it helps a lot in controlling emotions. A trading plan allows you to predetermine how much risk you are willing to take. Which is very important during trading. And it helps you clearly define your goals while trading. Also with a trading plan you can always be prepared for market reversals and close trades at the right time. In general, trading plan is very important. If you make a proper trading plan and trade, then the risk of trading will be reduced a lot.
Any plans or strategies that you have set isnt really just that benefiting on the time thay you do make trades but also into other things as well specially on real life conditions or situations.
We do know that everything does really need up to be thinking up carefully and you would really be having those plans to have an effective execution of plans on whatever you are really that dealing on with. Not all would really be having that kind of considerations on the time that they would be dealing up with something. Lets focus on on trading on which we know that this one isnt really that just that simply be that too easy for you to not to make yourself not to be serious. Having trading plans would really be always relevant into this aspect.
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Importance of trading plan is essential. A trading plan is a specific guideline, which makes your decision-making process easier while trading and it helps a lot in controlling emotions. A trading plan allows you to predetermine how much risk you are willing to take. Which is very important during trading. And it helps you clearly define your goals while trading. Also with a trading plan you can always be prepared for market reversals and close trades at the right time. In general, trading plan is very important. If you make a proper trading plan and trade, then the risk of trading will be reduced a lot.
Any plans or strategies that you have set isnt really just that benefiting on the time thay you do make trades but also into other things as well specially on real life conditions or situations.
We do know that everything does really need up to be thinking up carefully and you would really be having those plans to have an effective execution of plans on whatever you are really that dealing on with. Not all would really be having that kind of considerations on the time that they would be dealing up with something. Lets focus on on trading on which we know that this one isnt really that just that simply be that too easy for you to not to make yourself not to be serious. Having trading plans would really be always relevant into this aspect.
We must determine plans and targets when we buy coins, both coins for investment or holding and coins for trading. because trading in crypto is not easy, you need a mature plan to do it all. We also have to have a good strategy in investing so that we don't experience losses.
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Trading plan is one of the best intelligence process in the cryptocurrency market. Because we cannot get best profit without a suitable plan, so a suitable trading plan is essential for crypto market. When we can understand in trading and investment plan then we will be benefited. Actually we know trading is not easy, we must need to best observation and strateg in the cryptocurrency market.
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That's right, someone must have a trading plan so that each step will be easier for us to do. When someone doesn't have a plan, it's like someone who doesn't have a goal at all, just goes with the flow, trading is not as easy as we think because we have to learn as much as possible to understand crypto trading.
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A trading plan is crucial because it provides a structured approach to trading, helping you make informed decisions and avoid emotional reactions. My trading plan outlines my goals, risk tolerance, entry and exit criteria, and strategies. This helps me remain disciplined and focused.
By defining entry and exit criteria, a trading plan has helped me manage risk effectively and maintain consistency in my trading.
Additionally, it has allowed me to evaluate my performance, learn from mistakes, and adapt strategies as market conditions change.
Ultimately, a trading plan is essential for achieving long-term success in the financial markets.
- Can I ask you a question? In what you did with this topic, do you mean that you are experiencing passive income here in crypto trading? or do you get a big profit from trading?
Although what you say about the trading plan is correct, I have no question about that because having a goal plan helps a lot in the trading activity that we will do as traders.
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Importance of trading plan is essential. A trading plan is a specific guideline, which makes your decision-making process easier while trading and it helps a lot in controlling emotions. A trading plan allows you to predetermine how much risk you are willing to take. Which is very important during trading. And it helps you clearly define your goals while trading. Also with a trading plan you can always be prepared for market reversals and close trades at the right time. In general, trading plan is very important. If you make a proper trading plan and trade, then the risk of trading will be reduced a lot.
Any plans or strategies that you have set isnt really just that benefiting on the time thay you do make trades but also into other things as well specially on real life conditions or situations.
We do know that everything does really need up to be thinking up carefully and you would really be having those plans to have an effective execution of plans on whatever you are really that dealing on with. Not all would really be having that kind of considerations on the time that they would be dealing up with something. Lets focus on on trading on which we know that this one isnt really that just that simply be that too easy for you to not to make yourself not to be serious. Having trading plans would really be always relevant into this aspect.
We must determine plans and targets when we buy coins, both coins for investment or holding and coins for trading. because trading in crypto is not easy, you need a mature plan to do it all. We also have to have a good strategy in investing so that we don't experience losses.
Its never been easy and it would never be, this is why even into those who are old or veterans into this market wont really be having that assurance that they would really be able to make
good trades on which we know that this market is really that truly unpredictable. There's no way that you could be able to avoid loses and this is why it would really be that important
that you should really be doing some trading plan and this would come up naturally into your mind on which it would really be just that a normal approach for someone.
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Absolutely, I couldn’t agree more! A well-structured trading plan is a fundamental component of successful trading.
Your points about setting clear goals, defining risk tolerance, and establishing entry and exit criteria resonate strongly with me. It's interesting how having a plan helps to eliminate emotional decision-making, which is often where traders can go wrong.
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I completely agree that trading plan is necessary for trading successfully. Having clear plan helps us to make good decisions and and will teach us how to stay calm in markets. You can make thoughtful choices instead of acting on emotions.
I like how you laid out your goals risk level and trading strategies. This helps you stay disciplined and focused. I also appreciate how you stressed importance of checking your progress learning from mistakes and adjusting to market changes. Trading plan is important for long term success in trading and I think all serious traders should have one and stick to it.
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A trading plan is crucial because it provides a structured approach to trading, helping you make informed decisions and avoid emotional reactions. My trading plan outlines my goals, risk tolerance, entry and exit criteria, and strategies. This helps me remain disciplined and focused.
Don't you study the market's fundamental behavior like planning on the basis of news? Trading on news is not as beneficial as holding is. But what do you think about making and changing the plan you already have made according to the current news which can affect your trading plan?
By defining entry and exit criteria, a trading plan has helped me manage risk effectively and maintain consistency in my trading.
Additionally, it has allowed me to evaluate my performance, learn from mistakes, and adapt strategies as market conditions change.
Ultimately, a trading plan is essential for achieving long-term success in the financial markets.
I agree with all of your statements and giving more importance to entry and exit points is a good tip you shared. Because when you study the exit point you study the token and make a prediction that's the highest it can go in this timeframe and that's the low it can go when taking entry.
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A trading plan is crucial because it provides a structured approach to trading, helping you make informed decisions and avoid emotional reactions. My trading plan outlines my goals, risk tolerance, entry and exit criteria, and strategies. This helps me remain disciplined and focused.
By defining entry and exit criteria, a trading plan has helped me manage risk effectively and maintain consistency in my trading.
Additionally, it has allowed me to evaluate my performance, learn from mistakes, and adapt strategies as market conditions change.
Ultimately, a trading plan is essential for achieving long-term success in the financial markets.
All work should have a plan. Trading should also have a plan. It will make trading a lot easier. Without a plan nothing can be done well. Planning helps to organize any task. A trading plan will tell you when you should trade and when you shouldn't, and your motivations will be clear. Every work is random without planning. Trading and every other work should be done according to plan so that the pace of work is good and there is less chance of work going wrong.
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Arranging yourself in a way that it will not be disrupted all that easily is a great method, I would suggest everyone to be like that and I am sure that there are a lot of people who feel the same way. I know that it is not going to be easy, but we should still make sure that we know what we are doing before any of this, there is no way that it can be without a mistake, of course we are going to lose some money at times, we can't be always right, but at the end of the day we are going to be fine, we just need to be careful. This is why the best way would be just making sure that we stick to plan no matter what.
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Arranging yourself in a way that it will not be disrupted all that easily is a great method, I would suggest everyone to be like that and I am sure that there are a lot of people who feel the same way. I know that it is not going to be easy, but we should still make sure that we know what we are doing before any of this, there is no way that it can be without a mistake, of course we are going to lose some money at times, we can't be always right, but at the end of the day we are going to be fine, we just need to be careful. This is why the best way would be just making sure that we stick to plan no matter what.
Yes, we must have a plan in making investments, especially in trading we must predict our selling price when buying coins so that we are not affected by bad emotions such as greed. because sometimes our plans fail because we are greedy.
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Arranging yourself in a way that it will not be disrupted all that easily is a great method, I would suggest everyone to be like that and I am sure that there are a lot of people who feel the same way. I know that it is not going to be easy, but we should still make sure that we know what we are doing before any of this, there is no way that it can be without a mistake, of course we are going to lose some money at times, we can't be always right, but at the end of the day we are going to be fine, we just need to be careful. This is why the best way would be just making sure that we stick to plan no matter what.
Yes, we must have a plan in making investments, especially in trading we must predict our selling price when buying coins so that we are not affected by bad emotions such as greed. because sometimes our plans fail because we are greedy.
Investments made in Cryptocurrency must be done but before we do that we must try to learn the various investment methods available in Cryptocurrency. That way there is potential to grow the assets we use for investment and we can harvest when we have made a lot of profit.
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Investments made in Cryptocurrency must be done but before we do that we must try to learn the various investment methods available in Cryptocurrency. That way there is potential to grow the assets we use for investment and we can harvest when we have made a lot of profit.
It is not only about knowing the investment methods but also:
- know when to invest and when not to invest
- know the right coins you should invest on
Also that people should know that cryptocurrencies are very risky. That is while some people only prefer to invest on good coins like bitcoin.
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Investments made in Cryptocurrency must be done but before we do that we must try to learn the various investment methods available in Cryptocurrency. That way there is potential to grow the assets we use for investment and we can harvest when we have made a lot of profit.
It is not only about knowing the investment methods but also:
- know when to invest and when not to invest
- know the right coins you should invest on
Also that people should know that cryptocurrencies are very risky. That is while some people only prefer to invest on good coins like bitcoin.
It is very important to know the methods of investment in the case of investment. Everyone has their own investment method, such as the best method is DCA, but for this we must invest in the best coin in the market. Investing in random coin is full of risk, so if you don't want to take risk, then you should definitely invest in Bitcoin, because Bitcoin is the best choice of every investor, and full of least risk.
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That's right sir, before investing we need to make a plan so that we get profit, don't let us fail in business, all of that requires struggle. we must pay attention to every time we do something, we must have a plan for the future, as well as trading crypto, what we need is a lot of knowledge in market movements and a lot of news about crypto so that we can easily see market movements, usually market prices go up and down, affecting crypto news.
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That's right sir, before investing we need to make a plan so that we get profit, don't let us fail in business, all of that requires struggle. we must pay attention to every time we do something, we must have a plan for the future, as well as trading crypto, what we need is a lot of knowledge in market movements and a lot of news about crypto so that we can easily see market movements, usually market prices go up and down, affecting crypto news.
Of course we must have a plan in investing. Being a trader must make analysis and have a plan, can be a sales target and the method to be used must be planned in advance. While as a holder must also have a plan until when the coin will be held.
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That's right sir, before investing we need to make a plan so that we get profit, don't let us fail in business, all of that requires struggle. we must pay attention to every time we do something, we must have a plan for the future, as well as trading crypto, what we need is a lot of knowledge in market movements and a lot of news about crypto so that we can easily see market movements, usually market prices go up and down, affecting crypto news.
Of course we must have a plan in investing. Being a trader must make analysis and have a plan, can be a sales target and the method to be used must be planned in advance. While as a holder must also have a plan until when the coin will be held.
It's true that everyone needs a good plan to be a trader or a holder, but in this case, emotional management is very much needed because sometimes bad emotions such as greed and panic can change your initial plan, this is very dangerous. We must have a mature plan and do not change quickly if the market suddenly changes.
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Its a very good idea for us to have a trading plan when we are into crypto, be it a long or short time investment we are considering, when we plan, we are going to have a path through which we are going to take for the best of the interest on what we are doing, trading cannot be done without first having the plan and preparation being made on ground on how we wan tot go about it, the kinds of trades we want and the necessary implementations that should be in place.
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Its a very good idea for us to have a trading plan when we are into crypto, be it a long or short time investment we are considering, when we plan, we are going to have a path through which we are going to take for the best of the interest on what we are doing, trading cannot be done without first having the plan and preparation being made on ground on how we wan tot go about it, the kinds of trades we want and the necessary implementations that should be in place.
Of course.
when we are going to really dive into the world of crypto trading, the thing we must understand is the risks that we will face. Trading is not something easy, not just buying and selling. but, it is more complex.
At least there are several things that must be prepared:
- Knowledge
- Emotional control and management
- Free funds, not for daily needs or savings
- Basic analytical skills
- and several other important things
Which can later make us formulate trading plans that match our trading and will not be easily panicked when the market changes direction, and can optimize all chances to take profits much greater than the loss.
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That's right sir, before investing we need to make a plan so that we get profit, don't let us fail in business, all of that requires struggle. we must pay attention to every time we do something, we must have a plan for the future, as well as trading crypto, what we need is a lot of knowledge in market movements and a lot of news about crypto so that we can easily see market movements, usually market prices go up and down, affecting crypto news.
I liked the news tip because it really helped us make quick decisions, but we need resources that provide the latest news early. When we receive news promptly, we can act before the market is impacted. Keeping an eye on the news isn't as essential as knowing how to act on it. Sometimes, we don't know whether to "buy the news" or "sell the news."
Planning and following that plan properly is the key to long-term success in trading. Besides news, we must have knowledge about cryptocurrencies and understand how to analyze a project. We need to know what factors to look for in a project that indicates its longevity in the market and potential for profit. We should not trade based on hype alone.
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Ultimately, a trading plan is essential for achieving long-term success in the financial markets.
A trader without a trading plan obviously lacks what it takes to be a trader and to me he plans to fail. Trading plan makes your trade journey quite easy. This way, you know when to enter the market, when not to and when to exit your trade. It's just something that you literally don't even have to draw down on a piece of paper. Once you have mastered your trade it becomes one with you. Trading is risky and without appropriate planning you end up jumping into and out of trades without having an idea of what you want from the market.
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It is good to have a trading plan. It can help someone to remain disciplined in trading. If you are doing something against your trading plan which could be as a result of emotion, you will know that you are doing something wrong.
Are you making money from trading?
Can you let us know about your trading plans?
Planning is most important for every work. It also very important for trading. Without proper planning profit is not possible from trading. If you want to success in trading you should be a good Planner at first.I think who will trade with planningly he will be profitable there has no doubt.
Now this bear market i am following DCA method. Now i am buying and every dump i am buying. And when bull session will come i will sell my all token but that will stap by stap.
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Ultimately, a trading plan is essential for achieving long-term success in the financial markets.
A trader without a trading plan obviously lacks what it takes to be a trader and to me he plans to fail. Trading plan makes your trade journey quite easy. This way, you know when to enter the market, when not to and when to exit your trade. It's just something that you literally don't even have to draw down on a piece of paper. Once you have mastered your trade it becomes one with you. Trading is risky and without appropriate planning you end up jumping into and out of trades without having an idea of what you want from the market.
In trading we must have a plan, so when buying coins we can already make a good plan to sell when and determine the target at what price and what strategy we use. Trading is not easy but everything can be learned. Experience and knowledge will make us able to make a profit in trading.
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A trading plan is crucial because it provides a structured approach to trading, helping you make informed decisions and avoid emotional reactions. My trading plan outlines my goals, risk tolerance, entry and exit criteria, and strategies. This helps me remain disciplined and focused.
By defining entry and exit criteria, a trading plan has helped me manage risk effectively and maintain consistency in my trading.
Additionally, it has allowed me to evaluate my performance, learn from mistakes, and adapt strategies as market conditions change.
Ultimately, a trading plan is essential for achieving long-term success in the financial markets.
Quite an impressive tips and tricks to follow if you are a newbie. We can easily evaluate ourselves on the basis of profit and loss also but if you want to follow a plan and want to evaluate yourself on the basis of it also then it's your choice. Though it's a good thing but takes some time.
But planning to make a profit in trading is of great importance I have been into trading for a long time, and I learned it from my personal experience and from others that without a proper strategy in mind, we can't make good decisions and good profits.
Hmm and control of emotions is not that easy as to write it here.
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Ultimately, a trading plan is essential for achieving long-term success in the financial markets.
A trader without a trading plan obviously lacks what it takes to be a trader and to me he plans to fail. Trading plan makes your trade journey quite easy. This way, you know when to enter the market, when not to and when to exit your trade. It's just something that you literally don't even have to draw down on a piece of paper. Once you have mastered your trade it becomes one with you. Trading is risky and without appropriate planning you end up jumping into and out of trades without having an idea of what you want from the market.
In trading we must have a plan, so when buying coins we can already make a good plan to sell when and determine the target at what price and what strategy we use. Trading is not easy but everything can be learned. Experience and knowledge will make us able to make a profit in trading.
Everything should really be having a plan and this is something that would recommended no matter what are the things that you've been dealing with or been engaging into.
If we do speak about trading then it would really be that relevant that you should really be having a plan. Dealing up with a volatile space without proper planning then it is
really that something that will really be making you doing like gambling. Making up positions without any basis is really that something that do really talks about gambling.
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Everything should really be having a plan and this is something that would recommended no matter what are the things that you've been dealing with or been engaging into.
If we do speak about trading then it would really be that relevant that you should really be having a plan. Dealing up with a volatile space without proper planning then it is
really that something that will really be making you doing like gambling. Making up positions without any basis is really that something that do really talks about gambling.
I also agree that in trading we must have a plan, and not only that in everything we must have a plan so that what we do is in accordance with the flow. Because we should not be influenced by news, market conditions, etc. We must hold fast to the plan we have made.
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A trading plan is crucial because it provides a structured approach to trading, helping you make informed decisions and avoid emotional reactions. My trading plan outlines my goals, risk tolerance, entry and exit criteria, and strategies. This helps me remain disciplined and focused.
By defining entry and exit criteria, a trading plan has helped me manage risk effectively and maintain consistency in my trading.
Additionally, it has allowed me to evaluate my performance, learn from mistakes, and adapt strategies as market conditions change.
Ultimately, a trading plan is essential for achieving long-term success in the financial markets.
Having a plan and sticking to it would help you go far as a trader, giving yourself a reasonable target to hit either on a daily, weekly or monthly basis would help you to always avoid losses, 70 percent of traders that lose in the market always try to go beyond their target due to greed. Just like you said having a target enhances your focus and gives you a prospect instead of just diving into the market with no strategies. Not everyone can be disciplined enough to follow their plans everytime this is why mental and emotional maturity is important for you to have as a trader in order for you not to make big mistakes that might affect your finances
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The only plan I am aware of is making money and we need to do whatever it takes to do it, can strategize, can gamble with futures or trade the shitcoins in short positions,etc.
Although I agree we must have a plan but it can't be static, it must be flexible in a way that should be changed according to the market trend changes.
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The only plan I am aware of is making money and we need to do whatever it takes to do it, can strategize, can gamble with futures or trade the shitcoins in short positions,etc.
Although I agree we must have a plan but it can't be static, it must be flexible in a way that should be changed according to the market trend changes.
I agree with you, we must have a plan but not a static plan. We must have a flexible plan because the crypto market is very volatile, sometimes different from the plan we have set. I also often change plans if I face conditions that are not in accordance with predictions, that is the ability that we must have as traders or investors, we must be responsive to changes that exist.
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Ultimately, a trading plan is essential for achieving long-term success in the financial markets.
It's very true and I highly agree with you, as a trader I know the importance of a proper trading plan. Without a proper trading plan one can't get success in trading, in fact I would say that without a proper strategy and trading plan, no one can become a good trader.
A good trading plan makes someone very disciplined as a trader and time after time that trader learns proper strategies that can help him/her in his/her trading journey. One should have different trading plans, and strategies for various market conditions.
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Ultimately, a trading plan is essential for achieving long-term success in the financial markets.
It's very true and I highly agree with you, as a trader I know the importance of a proper trading plan. Without a proper trading plan one can't get success in trading, in fact I would say that without a proper strategy and trading plan, no one can become a good trader.
A good trading plan makes someone very disciplined as a trader and time after time that trader learns proper strategies that can help him/her in his/her trading journey. One should have different trading plans, and strategies for various market conditions.
Yes, in trading requires the right plan and also a good analysis. Because with the right plan we can trade well according to the plan, even though our plan will change because the Crypto Unpredictable market is sometimes not in accordance with our analysis and prediction, it often happens in trading. So many members suggest learning to trade, learn to make analysis both fundamental and technical until we have a good experience.
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The only plan I am aware of is making money and we need to do whatever it takes to do it, can strategize, can gamble with futures or trade the shitcoins in short positions,etc.
Although I agree we must have a plan but it can't be static, it must be flexible in a way that should be changed according to the market trend changes.
Everyone's goal is to get big profits in trading because to get what we want, we have to try as hard as possible, don't rely on asset capital alone and we have to have knowledge or news information about the coins we trade so that by having information we can arrange plans or strategies in trading, even though the strategies we develop are not 100% correct but at least 60-80% correct, usually that's what I've experienced so far.
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The only plan I am aware of is making money and we need to do whatever it takes to do it, can strategize, can gamble with futures or trade the shitcoins in short positions,etc.
Although I agree we must have a plan but it can't be static, it must be flexible in a way that should be changed according to the market trend changes.
Everyone's goal is to get big profits in trading because to get what we want, we have to try as hard as possible, don't rely on asset capital alone and we have to have knowledge or news information about the coins we trade so that by having information we can arrange plans or strategies in trading, even though the strategies we develop are not 100% correct but at least 60-80% correct, usually that's what I've experienced so far.
Strategy in trading is an important thing to have, because we can't make investments especially trading without a strategy. In trading we have to learn to make analysis and find information about the coins and economic predictions that will occur so we can make predictions about future price increases. It takes experience and we must always try it.
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Nothing in the world can be successfully executed without prior planning And our cryptocurrency trading is no exception. Without proper trading strategy it is never possible to earn profit by trading. First of all we need to adopt a right strategy that depends on your type of trading like if you are doing short term trading then your trading strategy will be one and if you are doing long term trading then your trading will be different.
After setting the trading strategy you have to do market analysis according to your strategy and you have to invest according to that only then it will be possible to earn profit.
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An individual must have a dynamic trading strategy before he involve himself in trading, first of all, we need to define our goals or specify the things that we want to achieve through trading, and how we wish to achieve them.
if we make a good planning on trading, it will prevent us from making any emotional or wrong decisions, must especially when we are tensed or frustrated, we will also have the ability to minimize risk and maximize profits or benefits.
if a trader makes a good trading plan every thing will become much easier, and they will be free from stress or frustration.
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The only plan I am aware of is making money and we need to do whatever it takes to do it, can strategize, can gamble with futures or trade the shitcoins in short positions,etc.
Although I agree we must have a plan but it can't be static, it must be flexible in a way that should be changed according to the market trend changes.
Everyone definitely wants profit, but to achieve that desire there must be an effort by having a strategy or plan in trading, this can bring someone profit but must be careful in making a strategy or trading plan, if someone does not have a strategy or plan in trading, it is the same as they do not have a goal they want to achieve. All professional traders and investors definitely have a strategy or plan so that they have confidence in themselves.
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A trading plan is crucial because it provides a structured approach to trading, helping you make informed decisions and avoid emotional reactions. My trading plan outlines my goals, risk tolerance, entry and exit criteria, and strategies. This helps me remain disciplined and focused.
By defining entry and exit criteria, a trading plan has helped me manage risk effectively and maintain consistency in my trading.
Additionally, it has allowed me to evaluate my performance, learn from mistakes, and adapt strategies as market conditions change.
Ultimately, a trading plan is essential for achieving long-term success in the financial markets.
Every trader should have a trading plan. If trading can be done with a trading plan, chances of trading success are high. Trading plan creates discipline in a trader. One of the trading strategies I always follow while trading is that I always keep an eye on the market. I see if the market is dumping too much then I buy from there and later when some candles turn green I sell there. I don't get too greedy because if I get too greedy in trading platform I will get hurt. Also I never trade with emotion I always trade with my normal self. But I found I made more profit than loss on the trading platform.
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When it comes to trading, you always have to keep a cool head and work slowly. There will be no hot-headed work here. Keep a cool head and trade with patience and understanding. You may benefit from this.
I repeat however you must keep a cool head and trade slowly. And read a lot so that you can reach the destination.
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When it comes to trading, you always have to keep a cool head and work slowly. There will be no hot-headed work here. Keep a cool head and trade with patience and understanding. You may benefit from this.
I repeat however you must keep a cool head and trade slowly. And read a lot so that you can reach the destination.
Responsibility is the key to it.
And for this thought to click for a person, he should feel his own lows and ups on the market. Only then he would understand the importance of self-discipline in the market.
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A trading plan is crucial because it provides a structured approach to trading, helping you make informed decisions and avoid emotional reactions. My trading plan outlines my goals, risk tolerance, entry and exit criteria, and strategies. This helps me remain disciplined and focused.
By defining entry and exit criteria, a trading plan has helped me manage risk effectively and maintain consistency in my trading.
Additionally, it has allowed me to evaluate my performance, learn from mistakes, and adapt strategies as market conditions change.
Ultimately, a trading plan is essential for achieving long-term success in the financial markets.
Every trader should have a trading plan. If trading can be done with a trading plan, chances of trading success are high. Trading plan creates discipline in a trader. One of the trading strategies I always follow while trading is that I always keep an eye on the market. I see if the market is dumping too much then I buy from there and later when some candles turn green I sell there. I don't get too greedy because if I get too greedy in trading platform I will get hurt. Also I never trade with emotion I always trade with my normal self. But I found I made more profit than loss on the trading platform.
Greed is really what pushes some people on edge.
So if you have some doubts about it - remember, small gains are better than no gains at all.
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The only plan I am aware of is making money and we need to do whatever it takes to do it, can strategize, can gamble with futures or trade the shitcoins in short positions,etc.
Although I agree we must have a plan but it can't be static, it must be flexible in a way that should be changed according to the market trend changes.
Everyone definitely wants profit, but to achieve that desire there must be an effort by having a strategy or plan in trading, this can bring someone profit but must be careful in making a strategy or trading plan, if someone does not have a strategy or plan in trading, it is the same as they do not have a goal they want to achieve. All professional traders and investors definitely have a strategy or plan so that they have confidence in themselves.
Without a plan and expertise - trading is a gamble.
We need to be sure that we know what we are dealing with and what goals we have in mind, to achieve them in the end.
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A trading plan is crucial because it provides a structured approach to trading, helping you make informed decisions and avoid emotional reactions. My trading plan outlines my goals, risk tolerance, entry and exit criteria, and strategies. This helps me remain disciplined and focused.
By defining entry and exit criteria, a trading plan has helped me manage risk effectively and maintain consistency in my trading.
Additionally, it has allowed me to evaluate my performance, learn from mistakes, and adapt strategies as market conditions change.
Ultimately, a trading plan is essential for achieving long-term success in the financial markets.
On point mate, trading plan is very vital when placing trades in the Crypto market and a major reason why trading requires much focus and time.
Without a plan on any trade.. it is quite sure that a trader wouldn't know when to open or exit the market even if the trader is already making profits.
Trading plan defines the professionality of a trader or else the person is seeing trading as a form of gambling...
I impact plans on my trade to reduce fear/greed and also emotional stress putting in practice the use of SL and TP when necessary.
Even the easy spot trade also requires plan for consistent profit taking.
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Trading plans are very important to every trader, but it is also not adviceable to make these plans too rigid or static. As traders keep trading, they gain more experience and also improve on their skills. Some plans made few months ago might no longer be very effective to match up with the current market trend. It is very necessary for traders to review their trading plans either monthly, quarterly or yearly as the case may be. This will help them evaluate their trading performance for that period to know if they've been doing well with that plan and the need to adjust the plan base on their wealth of experience and current market situation. Regular reviews will let you know if you are growing as a trader or you're just stagnant at a spot.
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Trading plans are very important to every trader, but it is also not adviceable to make these plans too rigid or static. As traders keep trading, they gain more experience and also improve on their skills. Some plans made few months ago might no longer be very effective to match up with the current market trend. It is very necessary for traders to review their trading plans either monthly, quarterly or yearly as the case may be. This will help them evaluate their trading performance for that period to know if they've been doing well with that plan and the need to adjust the plan base on their wealth of experience and current market situation. Regular reviews will let you know if you are growing as a trader or you're just stagnant at a spot.
I agree with you as a trader we should not be rigid in making decisions sometimes different from the plan, this is what I do because sometimes market trends change, so I have to change the strategy I use. In trading sometimes we face a market that does not match our analysis and predictions. this often happens in crypto trading. We don't have to be rigid in our plans because everything can change according to conditions, it doesn't mean we are greedy but sometimes when we see a market that shows a good trend we can change our decisions a little to increase our sales target.
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Trading plans are very important to every trader, but it is also not adviceable to make these plans too rigid or static. As traders keep trading, they gain more experience and also improve on their skills. Some plans made few months ago might no longer be very effective to match up with the current market trend. It is very necessary for traders to review their trading plans either monthly, quarterly or yearly as the case may be. This will help them evaluate their trading performance for that period to know if they've been doing well with that plan and the need to adjust the plan base on their wealth of experience and current market situation. Regular reviews will let you know if you are growing as a trader or you're just stagnant at a spot.
Trading strategy that allows for flexibility can be trading strategy that is modified based on what is possible in the real world marketplace. Thus, while new strategies are employed, previously used strategies may be updated since the experiences we accrue are continuously reviewed. But it is not just getting used to change but taking advantage of change and new changes as they come. We should also perform periodic assessments to enable us determine the impact of our actions as well as the degree of the outcome obtained. From these evaluation processes, that which is unfit can be adjusted and improved while aspects that are beneficial can be supported.
I agree with you as a trader we should not be rigid in making decisions sometimes different from the plan, this is what I do because sometimes market trends change, so I have to change the strategy I use. In trading sometimes we face a market that does not match our analysis and predictions. this often happens in crypto trading. We don't have to be rigid in our plans because everything can change according to conditions, it doesn't mean we are greedy but sometimes when we see a market that shows a good trend we can change our decisions a little to increase our sales target.
This is the reason why one has to be so much careful while making decisions when trading, this is very essential in handling change in market condition, which are usually unpredictable. Where the situation indicates the prospect, we can change our original plan without steering off from the goal. Strategies are not overthrown when adapting them, in this case, it involves refining the strategies that has been developed with principles. At the same time, consulting with a rational pace, an enterprise can use the trends of a developing market as one of the aspects of developing long-term strategies and concepts, which are not only successful but also exclude the possibility of negative consequences in the future.
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Trading plans are very important to every trader, but it is also not adviceable to make these plans too rigid or static. As traders keep trading, they gain more experience and also improve on their skills. Some plans made few months ago might no longer be very effective to match up with the current market trend. It is very necessary for traders to review their trading plans either monthly, quarterly or yearly as the case may be. This will help them evaluate their trading performance for that period to know if they've been doing well with that plan and the need to adjust the plan base on their wealth of experience and current market situation. Regular reviews will let you know if you are growing as a trader or you're just stagnant at a spot.
I agree with you as a trader we should not be rigid in making decisions sometimes different from the plan, this is what I do because sometimes market trends change, so I have to change the strategy I use. In trading sometimes we face a market that does not match our analysis and predictions. this often happens in crypto trading. We don't have to be rigid in our plans because everything can change according to conditions, it doesn't mean we are greedy but sometimes when we see a market that shows a good trend we can change our decisions a little to increase our sales target.
Yeah, sometimes we need to flow like the water to make gains at the end of our trading session - no wonder, because the market works in mysterious ways sometimes and we definitely should be able to adapt to it and the situation we find ourselves in. Only then we would be able to call ourselves traders with the expertise.
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trading plan will always be there and it must have tricks and accuracy of analysis, in one trade must have several alternatives because if one alternative does not work there are still other alternatives, where crypto trading requires many ways to get profit, not satisfied with standard profit must get high,
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trading plan will always be there and it must have tricks and accuracy of analysis, in one trade must have several alternatives because if one alternative does not work there are still other alternatives, where crypto trading requires many ways to get profit, not satisfied with standard profit must get high,
As you do go forward with your trading career then it would really be just that normal that you will really be trying out to realize that you will really be needing up those proper plans and set ups
for you to be able to have that kind of high chances or probability on making a good trade. Although it wont really be giving out that kind of guarantees if we do speak about
positive results on which we know that this market is always been that unpredictable and there's no way that we could be having that kind of assurance but it is really that
way more better if you do have that trading plan rather than on having nothing at all.
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trading plan will always be there and it must have tricks and accuracy of analysis, in one trade must have several alternatives because if one alternative does not work there are still other alternatives, where crypto trading requires many ways to get profit, not satisfied with standard profit must get high,
Risks should be weighted out - otherwise, you may find yourself in red PNL in no time.
Trading should be done responsibly by everybody.
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trading plan will always be there and it must have tricks and accuracy of analysis, in one trade must have several alternatives because if one alternative does not work there are still other alternatives, where crypto trading requires many ways to get profit, not satisfied with standard profit must get high,
As you do go forward with your trading career then it would really be just that normal that you will really be trying out to realize that you will really be needing up those proper plans and set ups
for you to be able to have that kind of high chances or probability on making a good trade. Although it wont really be giving out that kind of guarantees if we do speak about
positive results on which we know that this market is always been that unpredictable and there's no way that we could be having that kind of assurance but it is really that
way more better if you do have that trading plan rather than on having nothing at all.
We can make our chances better, but we can never say that what we expect will happen for sure, no matter how much analysis is put into it.
That's why we need to adapt to the market and stay vigilant on what's happening in it.
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trading plan will always be there and it must have tricks and accuracy of analysis, in one trade must have several alternatives because if one alternative does not work there are still other alternatives, where crypto trading requires many ways to get profit, not satisfied with standard profit must get high,
There is no secret that in the crypto market, success depends on the plan that traders have come up with. In doing various preparations on many steps, not only we keep the opportunity alive, but for us also can avoid many loses. That every option we made can be a step forward to go further though there are some steps which are inopportunity. In this case everything which is done can bring better results if the analysis is correct and strategy is well prepared.
As you do go forward with your trading career then it would really be just that normal that you will really be trying out to realize that you will really be needing up those proper plans and set ups
for you to be able to have that kind of high chances or probability on making a good trade. Although it wont really be giving out that kind of guarantees if we do speak about
positive results on which we know that this market is always been that unpredictable and there's no way that we could be having that kind of assurance but it is really that
way more better if you do have that trading plan rather than on having nothing at all.
I believe that the presence of structure when it comes to our trading journey is one component that will help us enhance our outcome. Thus we lay down a very concrete strategy to be able to make a stand when the market is full of empty promises. It is not the reliability or certainty as it is commonly thought of, but establishing outlooks which can enable a decision-maker select options with a high degree of reliability and having relatively low probability of being incorrect. While the end outcome may not always correspond to expectations having map creates a more precise course of action.
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A trading plan is crucial because it provides a structured approach to trading, helping you make informed decisions and avoid emotional reactions. My trading plan outlines my goals, risk tolerance, entry and exit criteria, and strategies. This helps me remain disciplined and focused.
Having a trading plan will help in so many ways because you will always want to stick with the plan in other not to go on loss, though there is no certainty for any plan or strategies we adopt, but we are only going to receive the benefits of getting more close to the appropriate market prediction we have made before trading, we have to plan ourself, finance ad well as the timing and strategy to use before making trades.
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A trading plan is crucial because it provides a structured approach to trading, helping you make informed decisions and avoid emotional reactions. My trading plan outlines my goals, risk tolerance, entry and exit criteria, and strategies. This helps me remain disciplined and focused.
Having a trading plan will help in so many ways because you will always want to stick with the plan in other not to go on loss, though there is no certainty for any plan or strategies we adopt, but we are only going to receive the benefits of getting more close to the appropriate market prediction we have made before trading, we have to plan ourself, finance ad well as the timing and strategy to use before making trades.
I also predict the bull run will happen next year in Q1, and this is what makes many investors still hold their coins and wait for next year to sell them. the possibility of the bull run will start in Q1, but as you said the crypto market is starting to get interesting now since trump was elected as the US president, although he has not yet taken office but has a very positive impact on the current bitcoin price.
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Having a trading plan will help in so many ways because you will always want to stick with the plan in other not to go on loss, though there is no certainty for any plan or strategies we adopt, but we are only going to receive the benefits of getting more close to the appropriate market prediction we have made before trading, we have to plan ourself, finance ad well as the timing and strategy to use before making trades.
I have already made basic predictions on the crypto market and made a strategy on how when the price continues to rise and when the price falls.
But the smooth running of the strategy will depend on our own decisions, sometimes the arena of inappropriate strategies is caused by an unstable and unpredictable market.
This happens often and I also make a backup strategy for the unexpected event.
The important thing is that there is no panic to sell at a loss and certainly accumulate better coin holdings, taking advantage of the decline as much as possible with the available reserve money.
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Every person starts trading by following different plan, I am not very experienced in trading. That's why I start trading by following green candles and red candles, and considering whether the current season is dumping and pumping. But most of the time I start trading for short term after dumping the stock, or if I buy and sell bitcoin it is a long term investment area. By following all these above tips and experience in trading you will reap the benefits.
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Every person starts trading by following different plan, I am not very experienced in trading. That's why I start trading by following green candles and red candles, and considering whether the current season is dumping and pumping. But most of the time I start trading for short term after dumping the stock, or if I buy and sell bitcoin it is a long term investment area. By following all these above tips and experience in trading you will reap the benefits.
thats right everyone has different strategies and plans according to their considerations and experiences in trading. I always do fundamental and technical analysis before making a strategy. And always observe the market in doing short and medium term trading. because the crypto market is very volatile and sometimes I also change plans if the market moves not according to what I planned.
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It's a good step to maximize and verify if you are building a good practice for trading. I think the mindset also has an important aspect that you need to consider because it's going to be hard to see if it's all red, like how the market has recently. Imagine checking it continuously; it's not healthy.
Trading plan is a systematic way of carrying out and achieving your trading goals without necessarily losing but the fact is even the best trading plan is is well cut out fails so while it is good for one to be following a trading plan it's not reliable as even the best traders with their trading plans can lose on trade sometimes
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It's a good step to maximize and verify if you are building a good practice for trading. I think the mindset also has an important aspect that you need to consider because it's going to be hard to see if it's all red, like how the market has recently. Imagine checking it continuously; it's not healthy.
Trading plan is a systematic way of carrying out and achieving your trading goals without necessarily losing but the fact is even the best trading plan is is well cut out fails so while it is good for one to be following a trading plan it's not reliable as even the best traders with their trading plans can lose on trade sometimes
Trading is not easy and even though we have made a mature plan with the right analysis, sometimes the crypto market changes not according to our predictions. In trading, we always make analysis, read charts and see the current trend. but sometimes our analysis and predictions do not go according to the plan we have made because suddenly the market changes, especially if suddenly there is bad news and finally there is a deep correction. Trading requires good knowledge and experience and it takes a long process to get it, even people who have been trading for more than 5 years are not necessarily professional traders. Because maybe they are not focused enough on learning and not practicing their skills.
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It's a good step to maximize and verify if you are building a good practice for trading. I think the mindset also has an important aspect that you need to consider because it's going to be hard to see if it's all red, like how the market has recently. Imagine checking it continuously; it's not healthy.
Trading plan is a systematic way of carrying out and achieving your trading goals without necessarily losing but the fact is even the best trading plan is is well cut out fails so while it is good for one to be following a trading plan it's not reliable as even the best traders with their trading plans can lose on trade sometimes
Every person who does trading has their own plan and strategy. Some have the right analysis and strategy so that they get profit but sometimes there are also those who make mistakes and suffer losses. Profit or loss in trading is a common thing, but if we diversify in trading it can increase our chances of getting profit.
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It's a good step to maximize and verify if you are building a good practice for trading. I think the mindset also has an important aspect that you need to consider because it's going to be hard to see if it's all red, like how the market has recently. Imagine checking it continuously; it's not healthy.
Trading plan is a systematic way of carrying out and achieving your trading goals without necessarily losing but the fact is even the best trading plan is is well cut out fails so while it is good for one to be following a trading plan it's not reliable as even the best traders with their trading plans can lose on trade sometimes
Every person who does trading has their own plan and strategy. Some have the right analysis and strategy so that they get profit but sometimes there are also those who make mistakes and suffer losses. Profit or loss in trading is a common thing, but if we diversify in trading it can increase our chances of getting profit.
Well, Trading does require a mature plan and I have to admit not every decision can be successful all the time. Losses are a lesson to enhance a strategy, but profits a lesson that one should remain disciplined with proven method. In this manner, each and every experience is bringing the better result in future definitely.
Slicing up a portfolio also allows for wider losses as well as leveraging different forms of assets in portfolio. The key here is to continue to be as consistent as possible and to always be learning so that when a decision is made, it will be even more targeted towards what is best.
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Without a trading plan, you are risking your assets and uncalculated risks usually lead to losses, so your trading plan must include a strategy for determining risks and entering and exiting trades. Preparing a good trading plan does not mean making profits, but without an actual trading plan, you will most likely make losses.
Basically,every investment must involve an investment plan likewise trading in cryptocurrency also involves you making your trading plans.
While the major aim of investors is to analyse profits,trading plans make this vision clear.When to trade,when not to trade,awhen to Hodl and the rest.All this basically influence how your outcome would be lkke.Whether positively or negatively,trading plans determines all this.
I think when talking about trading plans,ww shoukd also talk about people who alllow other investors to make their plans for them,maybe through telegram channels or the rest.
Is this advisable? Because personally,i aslo watchout for signals dropped by some channels,but it doesn't end there.I make my own research and analyse the market myself,whether that particular id(investment decision) should be made.People have their own preferences though but i think this is what investors too should also do.
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Well, Trading does require a mature plan and I have to admit not every decision can be successful all the time. Losses are a lesson to enhance a strategy, but profits a lesson that one should remain disciplined with proven method. In this manner, each and every experience is bringing the better result in future definitely.
Slicing up a portfolio also allows for wider losses as well as leveraging different forms of assets in portfolio. The key here is to continue to be as consistent as possible and to always be learning so that when a decision is made, it will be even more targeted towards what is best.
Planning is always needed in investing, not only in trading because as a holder we also need a plan and target that we must set at the beginning.
and as a trader we must prepare a plan and strategy at the beginning, unfortunately sometimes it changes because market movements sometimes do not match our analysis.
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Well, Trading does require a mature plan and I have to admit not every decision can be successful all the time. Losses are a lesson to enhance a strategy, but profits a lesson that one should remain disciplined with proven method. In this manner, each and every experience is bringing the better result in future definitely.
Slicing up a portfolio also allows for wider losses as well as leveraging different forms of assets in portfolio. The key here is to continue to be as consistent as possible and to always be learning so that when a decision is made, it will be even more targeted towards what is best.
Planning is always needed in investing, not only in trading because as a holder we also need a plan and target that we must set at the beginning.
and as a trader we must prepare a plan and strategy at the beginning, unfortunately sometimes it changes because market movements sometimes do not match our analysis.
It really is a very valuable first step in investing, whether we are holders or traders, to be putting in the time to design goals and strategies. If we set targets at the start, then we’ll have a better idea of what steps we need to take. But market conditions always change and often the plans that we make have to be adjusted. It’s not weakness, it’s just part of staying relevant to the circumstances.
That means that we can respond to these changes, and then not lose sight of the main goal. A backup plan can help us keep the rails in the unexpected market situation. Another very helpful tool for regular evaluation of the strategy is done so that all the decisions it takes are in line with the current conditions. That way we never get off track if the market goes faster than expected.
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Well, Trading does require a mature plan and I have to admit not every decision can be successful all the time. Losses are a lesson to enhance a strategy, but profits a lesson that one should remain disciplined with proven method. In this manner, each and every experience is bringing the better result in future definitely.
Slicing up a portfolio also allows for wider losses as well as leveraging different forms of assets in portfolio. The key here is to continue to be as consistent as possible and to always be learning so that when a decision is made, it will be even more targeted towards what is best.
Planning is always needed in investing, not only in trading because as a holder we also need a plan and target that we must set at the beginning.
and as a trader we must prepare a plan and strategy at the beginning, unfortunately sometimes it changes because market movements sometimes do not match our analysis.
Doesnt matter on what you are dealing into as long it do involves money or something that pertains about investment or business, then it will really be just that standard that you would really be needing up to set up some plans or those strategies on which it will really be able to have that kind of increase when it comes into your profit chances because the main thing that we do target out is to make money and that would really be just that needing up some strategy and proper planning if you do really that wanted to have that at least good odds on making good trades.
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Well, Trading does require a mature plan and I have to admit not every decision can be successful all the time. Losses are a lesson to enhance a strategy, but profits a lesson that one should remain disciplined with proven method. In this manner, each and every experience is bringing the better result in future definitely.
Slicing up a portfolio also allows for wider losses as well as leveraging different forms of assets in portfolio. The key here is to continue to be as consistent as possible and to always be learning so that when a decision is made, it will be even more targeted towards what is best.
Planning is always needed in investing, not only in trading because as a holder we also need a plan and target that we must set at the beginning.
and as a trader we must prepare a plan and strategy at the beginning, unfortunately sometimes it changes because market movements sometimes do not match our analysis.
The target trend may change slightly but you should focus on the main target i.e. whether the market will pump or dump and you should set your plan accordingly. Limiting buying during price uptrend and buying more during dumping trend can help you increase your holdings but choosing the right currency is most important. Your tolerance at every stage of trading can ensure positive investment potential with short term trading risk and high profit potential.
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Every person who does trading has their own plan and strategy. Some have the right analysis and strategy so that they get profit but sometimes there are also those who make mistakes and suffer losses. Profit or loss in trading is a common thing, but if we diversify in trading it can increase our chances of getting profit.
A person that fails to plan on their trade is definitely opening door for reckless gambling, I wouldn't want to call it gambling because a serious gambler plan before they wager any amount into gambling, so trader ttat failed to plan is a person that is just chasing profit without any strategy, just make money and exist.
The funny thing about recklessly trading without plan is that you might be lucky making all that money doing it but you might it be lucky all the time, you can lose everything in a day or lose everything in a singke trade.
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A person that fails to plan on their trade is definitely opening door for reckless gambling, I wouldn't want to call it gambling because a serious gambler plan before they wager any amount into gambling, so trader ttat failed to plan is a person that is just chasing profit without any strategy, just make money and exist.
The funny thing about recklessly trading without plan is that you might be lucky making all that money doing it but you might it be lucky all the time, you can lose everything in a day or lose everything in a singke trade.
This is absolutely true. A trader without a plan is essentially gambling with their money, relying on luck to either make a profit or take a loss. I remember when I first learned about crypto, a friend told me it was simple and all I needed to do was follow signals from expert traders. Over time, I realized that was the worst advice any trader could follow. Obviously to him, trading is one means to get rich quick and easily, But that's wrong. Trading requires learning and proper planning to be successful.
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A person that fails to plan on their trade is definitely opening door for reckless gambling, I wouldn't want to call it gambling because a serious gambler plan before they wager any amount into gambling, so trader ttat failed to plan is a person that is just chasing profit without any strategy, just make money and exist.
The funny thing about recklessly trading without plan is that you might be lucky making all that money doing it but you might it be lucky all the time, you can lose everything in a day or lose everything in a singke trade.
Over time, I believe every trader has an extremely detailed trading plan, whether they store it as a full text document or in their mind. Methods for identifying signals, timeframes, entry criteria, capital used, stop-loss and take-profit methods... will all be implemented in great detail.
Many lazy traders don't create their own trading plans, so they quickly forget the impressions from their successful and failed trades. They waste their experience and costs when they don't learn from their own experiences in the crypto market. However, this is also necessary for them to accept losses and bring profits to more deserving traders ^^
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A person that fails to plan on their trade is definitely opening door for reckless gambling, I wouldn't want to call it gambling because a serious gambler plan before they wager any amount into gambling, so trader ttat failed to plan is a person that is just chasing profit without any strategy, just make money and exist.
The funny thing about recklessly trading without plan is that you might be lucky making all that money doing it but you might it be lucky all the time, you can lose everything in a day or lose everything in a singke trade.
Many lazy traders don't create their own trading plans, so they quickly forget the impressions from their successful and failed trades. They waste their experience and costs when they don't learn from their own experiences in the crypto market. However, this is also necessary for them to accept losses and bring profits to more deserving traders ^^
It is obvious that experience is one of the major determinant of becoming a profiting trader, comprehending those trades that incurred huge losses and those that were very profitable at a specific period of trade.
And I guess every trader that is willing to maximize profits and reduce loss must have the skill of learning from his own experience.
As of those lazy traders your pointing at, I guess they are just gambling with the market, trying luck and not knowing where they stand, just hoping that any trade they place may generate profit for them.
Because no personality wouldn't want to figure out his mistakes from his own experience when it has happened to him at least 3times.
Therefore experience is also a trading skill that can foster a perfect planning before making trades.
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A person that fails to plan on their trade is definitely opening door for reckless gambling, I wouldn't want to call it gambling because a serious gambler plan before they wager any amount into gambling, so trader ttat failed to plan is a person that is just chasing profit without any strategy, just make money and exist.
The funny thing about recklessly trading without plan is that you might be lucky making all that money doing it but you might it be lucky all the time, you can lose everything in a day or lose everything in a singke trade.
This is absolutely true. A trader without a plan is essentially gambling with their money, relying on luck to either make a profit or take a loss. I remember when I first learned about crypto, a friend told me it was simple and all I needed to do was follow signals from expert traders. Over time, I realized that was the worst advice any trader could follow. Obviously to him, trading is one means to get rich quick and easily, But that's wrong. Trading requires learning and proper planning to be successful.
I agree with what you said " Trading requires learning and proper planning to be successful. ". Trading requires knowledge and experience to make the right plan and we must always learn to train our skills in trading. because trading is not just following signals from seniors and mentors we must learn by ourselves, make our own analysis to become a professional.
many spend more than 5 years learning trading to become a professional trader.
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Slicing up a portfolio also allows for wider losses as well as leveraging different forms of assets in portfolio. The key here is to continue to be as consistent as possible and to always be learning so that when a decision is made, it will be even more targeted towards what is best.
It is very true what you say, although opening or dividing a wallet is a good strategy if the trading scenario looks bad, whatever the currency or stock being traded you can lose, what must be emphasized here is that you always have to see what the best approach is, if you are not clear it is better not to lose, even if you have an opportunity with any currency, you have to know how to make entries, not make entries for the sake of making them, if you lose a lot it is Obvious that you are not seeing the market in the correct way.