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Thread: Importance of Planning in Forex?

  1. #1
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    Importance of Planning in Forex?

    Many times we Open trades in the markets and we do not have idea about what we want to achieve and how. This means that we have to have a proper planning and then only the stability in the Forex trading can come.

    How do you lay the Importance of Planning in Forex?

  2. #2
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    Re: Importance of Planning in Forex?

    Planning is the key to success in Every thing that we do and Forex trading is no different from that. If we have a good plan and then we can maintain a good execution then the profits will also start rolling in and we will become a successful trader :good:

  3. #3
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    Re: Importance of Planning in Forex?

    It is all about planning in forex trading. You can never be a good trader if your trades are without planing no matter how much time you spend in forex world. Controlling greed and managing money is important while planning.

  4. #4
    Senior Member seahawks90's Avatar
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    Re: Importance of Planning in Forex?

    I must say that making some plans are the good thing before starting your trading because it always tells you that what you have to do when the situation become harder for you so it is recommended to go with some planning and it also minimize the percentage of risk because we already make some strategies for the hard time.
    DOING HARD WORK IS NOT THE KEY TO GET THE SUCCESS , YOU HAVE TO BECOME A SMART HARD WORKER TO GET THE WHOLE SUCCESS.

  5. #5
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    Re: Importance of Planning in Forex?

    Planning gives a direction to a trader. Every trader has a goal or a target in forex and they trade in order to achieve those goals and targets and trader needs to lay don a plan which has a set of rules and regulations and a direction to keep him going in the markets and that is called a plan. In forex it is said that plan your trade and then trade your plan .

  6. #6
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    Planning is vital and there is no question about that, but one should know that planning alone can’t be the recipe to success. In fact, it’s okay to have small plans, but following that properly is something that we need to do well, it is the real way to succeed. My trading with profits is possible thanks to OctaFX broker due to their low spread of 0.2 pips for all major pairs especially EJ which is my favorite pair to trade in!

  7. #7
    Its good to have a preplanned approach before trading, as you can learn quickly , and can do various checks.

  8. #8
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    It’s no rocket science to understand the importance of planning because we have very short time while trading, if I think about anything before opening of trades, I might lose out on good opportunities, so that’s why it is so crucial that we have plans beforehand, it makes life easier and I do that exactly especially with support in OctaFX, I have enough to do it. They have swap free account which is my favorite since I don’t need to worry about overnight charges.

  9. #9
    Quote Originally Posted by Morgan Dupree View Post
    Planning is vital and there is no question about that, but one should know that planning alone can’t be the recipe to success. In fact, it’s okay to have small plans, but following that properly is something that we need to do well, it is the real way to succeed. My trading with profits is possible thanks to OctaFX broker due to their low spread of 0.2 pips for all major pairs especially EJ which is my favorite pair to trade in!
    yes its very important to plan , you will have to rely on planning right from starting your trading and it continues as you trade on, planning is a very important aspect of trading.

  10. #10
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    Quote Originally Posted by vic84 View Post
    yes its very important to plan , you will have to rely on planning right from starting your trading and it continues as you trade on, planning is a very important aspect of trading.
    Yes that is right, it is definitely done that way, but unfortunately you won’t often find that happening. If we wish to be successful in correct way then having a good plan then keep on building it up with experience, but if we are regularly switching then we are not going to find anything suitable for working with and I said I am able to do a lot of right things because of the regular profit that I make with OctaFX broker’s support.

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