Its said "trading is simple, but not easy". Why it is not easy? Because we are making it complicated. Today we will see about the importance of trading plan. A trade with out proper plan is gambling. Before entering a trade you should know when to enter, stop loss, exit and partial profit booking levels. Trading plan is like a road to the destination you want to reach.
Now you have trading plan. Next step is to execute it properly. You need proper concentration to trade. Some people trade in between their break time, lunch time etc. This type of trade is done in a hurry and obviously it wont end well.
Plan your trades before market open, observe the market for few minutes and execute your trading plan. If you have any doubt about the trend direction, do not enter the trade.
Stay tuned to the next part and keep liking the ideas. Thanks!
Now you have trading plan. Next step is to execute it properly. You need proper concentration to trade. Some people trade in between their break time, lunch time etc. This type of trade is done in a hurry and obviously it wont end well.
Plan your trades before market open, observe the market for few minutes and execute your trading plan. If you have any doubt about the trend direction, do not enter the trade.
Stay tuned to the next part and keep liking the ideas. Thanks!
