So have you found a solution to the problem or not?
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Some people are not built for it mate. How many people do you know in your life that keep repeating the same mistakes over and over and they never seem to learn from them.
If you do it with understanding i.e. have clear reasons to change it I think it is just a way of acquiring experience.
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That’s right, the market should not be emotional in any situation.
There are at least two reasons and two main points of view in this matter. One can state that it’s very important to change your trading plan from time to time, while other says that you should comply with your trading plan permanently and everything you have to do is just to edit it from time to time. I comply with the first point of view, mainly because it makes me more variable and flexible. You should change your trading plan and moreover, you should have several trading plans for several assets. I believe that it twice ncreases chances to become successful in trading activity. Anyway, you should decide by yourself.
I have seen new traders face issues with sticking to their trading plans and this is one of the major reasons why they lose. For all these traders who find it difficult to stick to their plans, keep some patience because forex trading is a long-term journey and if you don’t find a plan to stick to, you won’t be doing anything more than wasting your time. Just breathe in and give your trading plan some time to show what it is worth.
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Changing trading plans every week is too fast. You should backtest your trading ideas and try to implement them on practice. and analyse the results very attentively.
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Agreed with this!
@mindymassey Sticking to a plan is good but sticking to the same plan is not okay. Forex market is continuously evolving. How does it make sense to stick to a plan for longer-term? You should know when is the time to make necessary amendments.
Yes it’s not a viable way to do things
I agree but this time frame is too short
That’s it! You need to build up data in the sky should definitely not be doing it live with real money
- Overtrading. Overtrading - either trading too big or too often – is the most common reason why Forex traders fail. …
- Not Adapting to the Market Conditions. …
- Poor Risk Management. …
- Not Having or Not Following a Trading Plan. …
- Unrealistic Expectations. …
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I agreed about having an unrealistic expectations when it comes to trading.
Risk management cannot be overstated and it’s importants
How is that a problem?just follow your heart
I was like that when i first started trading. I even went back to demo a few times in order to succedd.
i totally agree with this.
It actually depends on what changes you make. My trading strategy is always in the process of modifications, but I do them much rarely. Changing strategy every week is a bad idea because 7 days are not enough for adequate evaluating the current state of afairs and coming to the right conclusons about your strategy and its weak points. So, I strongly recommend to be more patient and consistent. If you want o change something, it should be explained by facts, but not by your visions which have no connection to the reality.