Pre-planned or Instant strategy in Forex market

[budado]

Its really important that we have plans before we going to invest in forex and before we trade. Because this is our guide once we have open position. Some traders end up doing emotional trading because they feel the heat of forex volatility and when they see their account turning negative they panic.

 

[Achiever2015]

There's nothing as good as having adequate planning before entering into a trade, having done all necessary analysis (both market and risk analysis). However, sometimes market don't turn in the way we had thought, thus the need for instant strategies to execute the trade. Here experience counts

 

[kasual]

yes, planning everything before enter or involve in this business is necessary since this business is not friendly place for people who know nothing. maybe we can win by speculate but can be sure lucky guessing activity won't last long and in this case, planning needed to keep lucky remain in our side.

 

[Markllee30]

Pre-planned is better than Instant strategy in Forex market. In forex market many changes rapidly so that condition you go with instant strategy that’s dangerous for you. I will suggest you watch news and make pre plan, pre-plan always returns go results.

 

[budado]

Instant trading? If you are genius and have out of this world lucky charm then I will say yes. But if you are a regular person just like the then its better that you are prepared either way. I know its hard to make good money in forex and I know theirs so many ways and means to make money in forex. But we can only do that if we have skills.

 

[ryuken]

Instant strategy like something called copy trade and the trade mirror stuff seems to be okay to me. as long as you make money everything is fine. but if you failed to make money then you have to adjust with the market changes. so that seems to be the point there with the forex.

 

[eddiej]

All knows that for every Forex traders how much the strategies are important in the trading field .But how you act during trading - whether you make some Pre-planned strategy from before or go for some instant strategy according to the market mood.
share your plan and opinion about the fact please.

hmmmn you're thinking about impulse on-the-fly strategy? I haven't had that much experience with that, I usually look at the market during that day and try to devise a plan from there but not while i trade.

 

[UMOFX IB]

Planning about any strategy is important it lead to a direction through which trader gets his goals.In forex nothing remains static. We can change strategy any time when feel now market wants something different. We should be flexible in making and applying strategy. I made some instant steps that secure me from a big loss.

 

[riddick09]

We should test them out those strategy that will be implemented in real trading. I don't think that we can try it all of it simultaneously but for now, do it one by one to see the difference and what we feel the best for us based on the experience and trading plan we have.

 

[sindarin]

I prefer pre planned rather than instant, why? because pre planned strategy is the most comfortable one because we put that plan properly and we have been think about that thing so much, so i think there are some chance for traders to making mistake with pre-planned strategy even i think that is small.

 

[budado]

Its always good to do analysis before we trade so its good to have a pre-plan before we trade. But make sure that in our preplan we have SL and TP target. I know many don't like to loss so they only put TP and no SL because they want or hoping that their position can bounce back but the truth is that it can't.

 

[sindarin]

So i think that means in mostly trader's mind that pre planned strategy is a good thing for them because they can analyze market without much problem, and i think that many people want to do the same thing too, but i think to put SL is a good thing for traders who want to trade

 

[budado]

I don't know if anyone will become a successful trader in the long run if they are not really interested to learn how to trade in forex. Because having a plan we are already have hard time earning in forex so how much more if we are not a trading plan at all. In the end we all going to end up getting MC.

 

[indieover]

He must be willing to work harder. Some interest would not be enough. It takes more than that to be successful. You need to get more time dedicated to forex. If you want to be able to do that then it's not impossible to be successful because this is not an easy business

 

[riddick09]

They should have the interest in Forex if they are into this business or field. SO, I doubt that they will going to be successful if they don't have any strategy. But I think that instant strategy will mean useless because, we should learn to test the strategy we will use and not just we see others making profits we apply it already.

 

[sindarin]

I don't know if anyone will become a successful trader in the long run if they are not really interested to learn how to trade in forex. Because having a plan we are already have hard time earning in forex so how much more if we are not a trading plan at all. In the end we all going to end up getting MC.

i think they still have chance to gain profit in forex, but that is not high as traders who prepared all their plans before they start trade, with better plans i am sure that trade can overcome many situation in forex, and that is why we should prepare our own plans before we start to trade in forex, so we can maintain our profit.

 

[kasual]

preparing plan for learning in order to sharpen trader skill and search the best trading strategy is better for me rather than trader choose to rely on signal, expert advisor or other thing that help them get instant result even though they are not preparing themselves with proper learning.

 

[budado]

i think they still have chance to gain profit in forex, but that is not high as traders who prepared all their plans before they start trade, with better plans i am sure that trade can overcome many situation in forex, and that is why we should prepare our own plans before we start to trade in forex, so we can maintain our profit.

If ever they did its just more on luck and not because they done something special and in the long run they can just end up getting more loses in forex. Its always better that you have good earning chance before you open a position than open a position and hope you can end up in profit.

 

[indieover]

Indeed it is not good to depend on our luck. Because we can lose more money in the end. So easy and very much important that you have already developed your trading skills already. It is only way for you to make sure you would make money in forex trading because it's a very complicated business. You need to learn a lot of things

 

[sindarin]

Indeed it is not good to depend on our luck. Because we can lose more money in the end. So easy and very much important that you have already developed your trading skills already. It is only way for you to make sure you would make money in forex trading because it's a very complicated business. You need to learn a lot of things

It is not good because relying yourself only for luck will give you nothing, even it will give you profit i am sure it will be 99% still uncertain, but with pre-planned forex strategies i am sure you can increase the chance to grab profit up to 99%, according to your skills and how you manage your own asset when you trade