PMT Forum
How do you want to make money today?

Simple Reasons Why You Need A Good Trading Plan

okpinoy · 2 · 6499

okpinoy

  • Forum Tambay 200
  • ***
    • Posts: 245
    • Likes Received: +0/-0


Simple reasons...



1) Entry Plan - there's only 1 good reason for having a working entry plan, which is to make the profit faster. If you have a good entry plan with more than 50% winning rate but not more than 60% (to tell you the truth it is very rare to have an entry plan that hits more than 60% rate in the long-term) that will make your profit more than 50% faster. When the price moves in favor with your open positions, there's no problem with that. You will simply profit. But there's another side of the story when your trade goes south. This is really the point where you need a good trading plan. How you will handle the floating negative profit.



2) Money Management Plan / Lotsizing - this helps a lot. but MM is not only about the calculation of the risk to have a good lotsize then you use stop loss, or hedging or grid. It is a plan about the logic of the mathematics of lotsizing that will make you able to escape a losing trade. So MM is somehow a part of the exit plan.



3) Escape Plan - all your plans above are all useless if you don't know or you can not imagine how to end the losing trades. So before entering a trade, it should be clear to you how to escape if the trade is losing. If your exit plan is just a guessing game to you, then you are gambling no matter how good the analysis that you use on your entry plan and MM plan. There are many tricks available to exit a losing trade. You can actually find them on the internet but how to exactly use them is another story. No one really tells how. In my upcoming book (or ebook, I haven't decided yet on this) I will tell you secrets (yes contrary to what people are saying that there's no such thing as secret strategies. they really exist but they are not magic wands. they just make the direction of your trades clearer than before) or high-probability-rate principles so you will know your escape plan. The book (or ebook) will be released in the 4th quarter of 2019. PRE-ORDER IS CLOSED.



Bonus: I will conduct a one huge webinar FREE to all who pre-ordered the book. It is not free for those who didn't pre-order the book. But you can pay if you want to attend this webinar. I will be discussing one important part of the book. A complete working trading plan and the logic behind the GABot Expert Advisor that my inner circle has been using for almost 2 years now. The webinar is called DEFENSE TRADING PLAYBOOK. The schedule is on June10, 2019.



Click here to register: https://www.facebook.com/groups/FXFledgling/permalink/2102833039825582/



Source: https://fxfledgling.blogspot.com/2019/05/simple-reasons-why-you-need-good.html


Spellstalker

  • Junior Member
  • **
    • Posts: 41
    • Likes Received: +0/-0
Reply #1 on: Jun 01, 2019, 10:14 PM
This is very important. Every trader should consider having a comprehensive trading plan before embarking into the business. Actually, all the trading plans that you've mentioned here are quite necessary, especially the escape plan. Many traders forget to have an escape plan and end up losing everything 


 


PMT Shoutbox

Refresh History
  • Post only questions or comments here. Advertisements NOT ALLOWED.
  • Niel Jhacoubs: Hello sa mga online jan! :)
    Jun 15, 2019, 02:58 PM
  • oragon: :applause:
    May 20, 2019, 03:53 PM
  • FutureGizmo: Thank you for reporting those spam posts, oragon! Spam posts now deleted.
    May 20, 2019, 01:59 PM
  • oragon: Admin kindly monitor some peps! posting and sharing inappropriate nude photos and website links
    May 20, 2019, 01:52 PM
  • @culinary10: Hello I am new here! Regarding sa bdo life insurance for 8 years, pwede pa kaya ma refund yung binayad ko na 50k last year? Gusto ko sana icancel kasi lack of financial na, last may 15 2018 po un nag start ako ng life insurance, pinili ko annually kaso etong may 15 2019 wala nako ma ipay so gusto ko sana icash out, may alam ba kayo kung pano marerefund?
    May 17, 2019, 07:56 PM
  • FutureGizmo: Hi Sonny, the posting issue is now resolved. Thanks for informing us! We're currently testing a new, mobile-ready theme so let us us know kung may problema pa sa Forum. :)
    Apr 04, 2019, 10:40 AM
  • sonny.wapak: Nakaka receive din ba kayo nito pag gawa ng new post? "Please try again. If you come back to this error screen, report the error to an administrator."
    Apr 03, 2019, 10:56 PM
  • leonine_zafiro: what product nun?
    Apr 01, 2019, 10:25 PM
  • dhondiex27: hi
    Mar 30, 2019, 10:55 PM
  • lusart: jayrob i agree 200%. hulog ng langit organico. legit na legit
    Mar 29, 2019, 09:08 AM
  • palemelch: Hi
    Mar 28, 2019, 04:08 PM
  • O.C.W._AK: Magandang Araw sa Lahat! Blessings! (",)
    Mar 28, 2019, 08:42 AM
  • thor15: hello everyone, newbie here
    Mar 25, 2019, 01:47 AM
  • captjaylo: present newbie here
    Mar 22, 2019, 10:06 AM
  • balboagilbert26: hello Guys .. Newbie here
    Mar 21, 2019, 10:55 PM
  • businesswoman2019: @jefsanity nag inquire na po ako pero di sila nagdidisclose. Yung branch po kasi na target ko, currently building pa.
    Mar 21, 2019, 04:27 PM
  • jefsanity: @businesswoman2019, much better inquire ka na lang sa admin nila.
    Mar 21, 2019, 01:51 PM
  • businesswoman2019: Hello! Any idea how much ang stall sa waltermart. 2m x 2m
    Mar 21, 2019, 08:28 AM
  • John Neil: Looking for an accredited iron foundry
    Mar 17, 2019, 03:19 PM
  • jayrob: Mark_Lee ung organico legit po yan..  Member din AQ..
    Mar 17, 2019, 12:57 AM
  • perlymelad: Hello po! Need advice, why my new MLM leaders failing?
    Mar 14, 2019, 08:51 PM
  • perlymelad: Present
    Mar 12, 2019, 07:53 PM
  • kennethmauricio: Hi saan po dito pwede mag post ng for sale properties?
    Mar 11, 2019, 07:58 PM
  • jefsanity: @mark_lee isipin mo anu passion mo at skills mo...
    Mar 11, 2019, 06:52 PM
  • sniperaj09: BAGO LANG
    Mar 10, 2019, 11:16 AM
  • mark_Lee: magandang investnent ngayon sa 30k suggest naman keo mga boss
    Mar 10, 2019, 03:07 AM
  • perlymelad: E-BOOK PO SIR @JEFSANITY
    Mar 09, 2019, 05:40 PM
  • perlymelad: @jefsanity Good Morning Po
    Mar 09, 2019, 05:39 PM
  • perlymelad: Good Day everyone
    Mar 04, 2019, 06:24 PM
  • jefsanity: anu ang small business na yan?
    Feb 28, 2019, 07:40 PM
  • perlymelad: Good Day Everyone
    Feb 28, 2019, 03:31 PM
  • perlymelad: Hello everyone, CAN ANYONE HELP ME SUGGEST ANY SIDE TOPIC  / PROBLEM OF  STARTING SMALL BUSINESS?
    Feb 28, 2019, 06:58 AM
  • perlymelad: Present, 1st time po
    Feb 25, 2019, 06:17 PM
  • jd2281: newbie po
    Feb 25, 2019, 12:26 PM
  • ejllantino: present... 1st time
    Feb 24, 2019, 07:14 PM
  • rheiel: present. first time
    Feb 24, 2019, 11:04 AM
  • MELVIE: thanks po
    Feb 24, 2019, 12:50 AM
  • steph123: hello po, ask lang po, ilang months po ba ang hihintayin after mo ma process ang mga documents para maitama ang mali sa NSO?
    Feb 11, 2019, 03:13 PM
  • Deborah: newbie here.thanks
    Feb 08, 2019, 02:17 PM
  • marj0503: hello im newbie here
    Jan 31, 2019, 10:53 AM
  • yan24: any one here planning to start a tesda skill training center
    Jan 26, 2019, 12:07 PM
  • manzjon: Forex trading forum
    Jan 25, 2019, 02:16 PM
  • Lizette Ramos: Pwede po bang patulong... Maganda po ba ang gasul retailing business?
    Jan 24, 2019, 09:14 PM
  • Imnobody: Hi sino naghahanap ng casino financer dito?
    Jan 16, 2019, 09:59 PM
  • Odlanyer22: Good day!
    Jan 16, 2019, 09:55 PM
  • maryen: at kung sakaling may somobra sa food na nailuto.. dapat po bang bayaran ng client un .. or ipapa take mo na sakanila?...
    Jan 16, 2019, 03:52 PM
  • maryen: HI! GOOD DAY! newbiz lang po... question lang po regarding sa catering.. if may 50pax po ako dapat lang po ba na sakto ang serving ng food?
    Jan 16, 2019, 03:50 PM
  • mark_Lee: cno na nag organico dito scam po ba yun or legit
    Jan 09, 2019, 03:04 AM
  • kuray08: Have a Prosperous New Year to all..
    Jan 06, 2019, 09:27 PM
  • ethan: Sino po may auto supply business dito? How profitable po ba ito in terms of monthly income? Lalo na kung meron na one or two na competition.
    Jan 04, 2019, 11:34 AM