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How to make a Trading Plan

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zanurreload

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Creating a trading plan is important to improve trading performance and pursue targets. This is the key to measuring, tracking and setting focus on improving trading methods. Disciplined traders are those who always have a trading plan and apply it consistently. Here are some things that need to be considered in making a trading plan:

1. Trading system
It is a system that you have tested for several months on a demo account and gives good results. If you have not found this trading system, make it in advance to be able to record the progress of your trading.
For example: use a 15-minute time frame to transact and a 1 hour time frame to see trends.

2. Trading routines
This section is required to be able to explain three things:

    - when to do market analysis and plan trading,
    - when you can observe the market to make transactions, and
    - when to evaluate the overall trading that has been done.

Example: analyze the market and plan trading twice a day: 1 hour before the European session and 1 hour before the American session.

3. Target and goal
Everyone has the target to be achieved in trading. This goal should not be too general and qualitative, such as "making as much profit as possible". But describe it quantitatively as follows: "30 pips a day", "2-4 percent profit", "buy a new car in two months". This target also does not only have to be material benefits but better trading attitudes and techniques can also be a target.


When you are able to recognize the above, the next step is to consistently practice it until it becomes a habit. Creating a trading plan and listing it in a trading journal will help you improve trading performance and be able to recognize market changes.

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#1 - February 06, 2019, 02:03:09 PM

ariezz

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Quote from: zanurreload on February 06, 2019, 02:03:09 PM
Creating a trading plan is important to improve trading performance and pursue targets. This is the key to measuring, tracking and setting focus on improving trading methods. Disciplined traders are those who always have a trading plan and apply it consistently. Here are some things that need to be considered in making a trading plan:
Trading plans and trading journals are indeed needed in forex trading, both of which are needed to trade in a correct and directed manner.

Without a trading plan trading will be irregular and without a trading journal trading will be chaotic and not directed. Adhering to the trading plan and running a trading journal with discipline means we are diligent in learning and obeying the trading rules.
#2 - February 06, 2019, 02:32:38 PM
« Last Edit: February 06, 2019, 02:33:48 PM by Admin »

jonforex

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Quote from: ariezz on February 06, 2019, 02:32:38 PM
Trading plans and trading journals are indeed needed in forex trading, both of which are needed to trade in a correct and directed manner.

Without a trading plan trading will be irregular and without a trading journal trading will be chaotic and not directed. Adhering to the trading plan and running a trading journal with discipline means we are diligent in learning and obeying the trading rules.
hello good night .. Forex trading if we already have trade planning, then the activity is more focused on getting better at running this business.Because we have planning the results of profits can always increase.
#3 - February 06, 2019, 02:42:09 PM

Eza Jordan

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what you convey is very useful for busy people, this can be used as a role model in trading, a trader must have what you say, because without clear planning in trading it does not achieve a success that is expected, but over time by having good experience and can learn from mistakes to apply what should be done, both from a good trading plan along with maintaining a very good money management.


#4 - February 06, 2019, 03:50:16 PM

Tahajud

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Indeed, the trading plan is very important. because the trading plan functions to keep our trading always in line with the path. With our trading plan, it will also be easier to trade because everything is neatly arranged so we just do it. Without a trading plan, it is like we want to go but do not know where the destination is, so it will be confused and just scurrying unclear
#5 - February 07, 2019, 02:02:39 AM

Black_Koujee

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Quote from: Tahajud on February 07, 2019, 02:02:39 AM
Indeed, the trading plan is very important. because the trading plan functions to keep our trading always in line with the path. With our trading plan, it will also be easier to trade because everything is neatly arranged so we just do it. Without a trading plan, it is like we want to go but do not know where the destination is, so it will be confused and just scurrying unclear
then what about those who already have a trade plan, but still don't obey it. Similarly, the plan they made is useless :P
#6 - February 07, 2019, 06:28:52 AM

Fxortrader

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Quote from: zanurreload on February 06, 2019, 02:03:09 PM
Creating a trading plan is important to improve trading performance and pursue targets. This is the key to measuring, tracking and setting focus on improving trading methods. Disciplined traders are those who always have a trading plan and apply it consistently. Here are some things that need to be considered in making a trading plan:

1. Trading system
It is a system that you have tested for several months on a demo account and gives good results. If you have not found this trading system, make it in advance to be able to record the progress of your trading.
For example: use a 15-minute time frame to transact and a 1 hour time frame to see trends.

2. Trading routines
This section is required to be able to explain three things:

    - when to do market analysis and plan trading,
    - when you can observe the market to make transactions, and
    - when to evaluate the overall trading that has been done.

Example: analyze the market and plan trading twice a day: 1 hour before the European session and 1 hour before the American session.

3. Target and goal
Everyone has the target to be achieved in trading. This goal should not be too general and qualitative, such as "making as much profit as possible". But describe it quantitatively as follows: "30 pips a day", "2-4 percent profit", "buy a new car in two months". This target also does not only have to be material benefits but better trading attitudes and techniques can also be a target.


When you are able to recognize the above, the next step is to consistently practice it until it becomes a habit. Creating a trading plan and listing it in a trading journal will help you improve trading performance and be able to recognize market changes.
Good topic of trading plan, can make referrals for new traders, to be successful in this forex field.
#7 - February 07, 2019, 07:48:25 AM

zanurreload

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Quote from: ariezz on February 06, 2019, 02:32:38 PM
Trading plans and trading journals are indeed needed in forex trading, both of which are needed to trade in a correct and directed manner.

Without a trading plan trading will be irregular and without a trading journal trading will be chaotic and not directed. Adhering to the trading plan and running a trading journal with discipline means we are diligent in learning and obeying the trading rules.
yes right, trading without a trading plan like we enter the forest without a map, then we will probably get lost. It would be nice before entering the market we make a trading plan first so the results are maximum.
#8 - February 07, 2019, 07:50:36 AM

zanurreload

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Quote from: jonforex on February 06, 2019, 02:42:09 PM
hello good night .. Forex trading if we already have trade planning, then the activity is more focused on getting better at running this business.Because we have planning the results of profits can always increase.

Agree, therefore before entering the market, let's make a trading plan first, the target must also be realistic, we don't force the self to get a big target.
#9 - February 07, 2019, 07:58:56 AM

Tahajud

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Quote from: Black_Koujee on February 07, 2019, 06:28:52 AM
then what about those who already have a trade plan, but still don't obey it. Similarly, the plan they made is useless :P


This is the same as if there are traffic lights on the highway but there are still people who don't obey. Obedient or not is the matter of each person, but what must always be remembered is that there will be consequences for each violation. so also with the trading plan, if we cannot obey it then get ready to accept the consequences, it could be a loss, or maybe even bankruptcy
#10 - February 07, 2019, 09:02:27 AM

MUHAMMAD NUR FIRZA

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of course to prepare the planing ot trade. there are many books regarding Forex trading you can buy from physical stores and you can also buy from internet but there are many websites for providing free of cost learning books from which you can learn and get a lot of information and knowledge which is necessary to work in this market there are many traders want to get some knowledge of this market but they don't know the proper way to get all these
#11 - February 07, 2019, 11:16:47 AM

dodogtg

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Add money manajemen in your trading plan 
Example 
Balance: 100
Margin: 500 pips
Lot:...
Tp: 
Sl: 

So you entry to market with proper money..
#12 - February 07, 2019, 12:20:07 PM

Black_Koujee

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Quote from: Tahajud on February 07, 2019, 09:02:27 AM

This is the same as if there are traffic lights on the highway but there are still people who don't obey. Obedient or not is the matter of each person, but what must always be remembered is that there will be consequences for each violation. so also with the trading plan, if we cannot obey it then get ready to accept the consequences, it could be a loss, or maybe even bankruptcy
That's probably why many people say that the discipline of applying MM is more important than just learning techniques?
#13 - February 07, 2019, 12:31:40 PM

Ardinan

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Quote from: zanurreload on February 06, 2019, 02:03:09 PM
Creating a trading plan is important to improve trading performance and pursue targets. This is the key to measuring, tracking and setting focus on improving trading methods. Disciplined traders are those who always have a trading plan and apply it consistently. Here are some things that need to be considered in making a trading plan:

1. Trading system
It is a system that you have tested for several months on a demo account and gives good results. If you have not found this trading system, make it in advance to be able to record the progress of your trading.
For example: use a 15-minute time frame to transact and a 1 hour time frame to see trends.

2. Trading routines
This section is required to be able to explain three things:

    - when to do market analysis and plan trading,
    - when you can observe the market to make transactions, and
    - when to evaluate the overall trading that has been done.

Example: analyze the market and plan trading twice a day: 1 hour before the European session and 1 hour before the American session.

3. Target and goal
Everyone has the target to be achieved in trading. This goal should not be too general and qualitative, such as "making as much profit as possible". But describe it quantitatively as follows: "30 pips a day", "2-4 percent profit", "buy a new car in two months". This target also does not only have to be material benefits but better trading attitudes and techniques can also be a target.


When you are able to recognize the above, the next step is to consistently practice it until it becomes a habit. Creating a trading plan and listing it in a trading journal will help you improve trading performance and be able to recognize market changes.
very useful info, as a beginner trader we really have to learn the right steps in trading. clear systems, routines and targets so that they become pro and profit traders.
#14 - February 07, 2019, 12:40:50 PM

Sahal Ma'sum

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I don't really understand the steps above, try including the video, it must be very helpful
#15 - February 08, 2019, 07:01:17 AM
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