![\"Trading](\"https:\/\/bpcdn.co\/images\/2016\/05\/junior-gps3.png\" "\\"Trading")
<\/figure>\n\n\n\nTraveling without a GPS wouldn\u2019t be a smart idea. You wouldn\u2019t know how to get to your destination and it\u2019s highly likely that you\u2019ll drive around lost like a chicken with its head chopped off.<\/p>\n\n\n\n
You\u2019re probably thinking that one could use an ancient object called \u201cmaps\u201d instead, but we have no clue what that is. Please don\u2019t make such absurd suggestions again.<\/p>\n\n\n\n
Trading without a trading plan would be the same thing as driving without a GPS\u2013a bad idea.<\/p>\n\n\n\n
You\u2019re trying to get to this Promised Land called \u201cConsistent Profits,\u201d but since you have no way of knowing whether you\u2019re headed in the right direction, you\u2019ll most likely end up blowing out your account.<\/p>\n\n\n\n
With a trading plan, you\u2019re able to know if you\u2019re headed in the right direction.<\/strong><\/p>\n\n\n\n You\u2019ll have a framework to measure your trading performance.<\/strong> And just like a GPS, you\u2019re able to monitor this continually.<\/p>\n\n\n\n This allows you to trade with less emotion and stress.<\/p>\n\n\n\n Without a trading plan, this would be nearly impossible. Instead, you\u2019d be a \u201ccowboy trader<\/strong>\u201c, shooting from the hip, trading by the seat of your pants, relying on your gut, guesses, or signals from strangers.<\/p>\n\n\n\n That ain\u2019t trading \u2013 that\u2019s gambling!<\/p>\n\n\n\n Whenever you trade, you\u2019ll probably end up a nervous, emotional wreck, crying yourself to sleep as your rollercoaster account balance grinds at your psyche. (Okay pretty drastic, but we think you get the picture).<\/p>\n\n\n\n Just as you use a GPS to figure out the route to be taken and to judge the progress that has been made, your trading plan defines how you\u2019ll become consistently profitable and tells you if you\u2019re on track.<\/p>\n\n\n\n Most importantly, if you suck at trading (and you certainly will in the beginning), you will know it is down to one of only two reasons: either there\u2019s a problem in your trading plan<\/strong> or you are not sticking to your trading plan<\/strong>.<\/p>\n\n\n\n If you\u2019re trading without a plan, it\u2019s impossible to know what you\u2019re doing right from wrong.<\/p>\n\n\n\n You have no way to evaluate your results, so you\u2019ll never know how to stop sucking.<\/p>\n\n\n\n We can\u2019t emphasize this enough\u2026<\/p>\n\n\n\n \u201cIf you fail to plan, then you\u2019ve already planned to fail.<\/strong>\u201d<\/p>\n\n\n\n Obviously, a trading plan doesn\u2019t guarantee success, but a good plan that is followed will help you stay in the forex game longer than traders who don\u2019t have a trading plan.<\/p>\n\n\n\n SURVIVAL<\/strong> is better than failure and it should be your first goal as a newbie trader.<\/p>\n\n\n\n Remember, 90% of new traders don\u2019t make it. You want to be part of that special \u201c10%\u201d that does make it.<\/p>\n\n\n\n You\u2019re probably thinking, \u201cBa humbug! Trading plan, schmading plan. I can be part of that 10% without a stinkin\u2019 trading plan!\u201d<\/p>\n\n\n\n It may be tempting to trade by the seat of your pants, but if you don\u2019t develop clearly defined trading plans and be disciplined enough to follow them consistently, you\u2019ll have much difficulty making consistent money as a trader.<\/p>\n\n\n\n Don\u2019t take any chances. Have a trading plan<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":" A trading plan will make trading simpler than it would be if you traded without one. Think of when you use a GPS device. (Or Google Maps on your smartphone.) You enter where you want to go. It then figures out where you currently are and then shows you how to get to where you […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[765],"tags":[],"_links":{"self":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts\/9900"}],"collection":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/comments?post=9900"}],"version-history":[{"count":0,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts\/9900\/revisions"}],"wp:attachment":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/media?parent=9900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/categories?post=9900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/tags?post=9900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Do NOT be a Cowboy Trader!<\/h2>\n\n\n\n
![\"Gambling](\"https:\/\/bpcdn.co\/images\/2010\/09\/gambling-gene.gif\")
<\/figure>\n\n\n\n![\"Trading](\"https:\/\/bpcdn.co\/images\/2016\/05\/junior-survival2.png\" "\\"Trading")
<\/figure>\n\n\n\n