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The importance of having a trading plan
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[QUOTE="Jake1972, post: 303017, member: 97525"] Having a trading plan is an essential part of successful trading. A trading plan outlines an investor’s trading strategy, including the types of investments they will make, the entry and exit points for the trades, and the risk management strategies they will employ. A trading plan helps to ensure that investors make smart and disciplined decisions when trading. It also helps to keep emotions out of the equation, as the plan is set in advance and followed regardless of market conditions. Having a trading plan also helps to keep investors focused on their long-term goals. By setting goals and following a plan, investors are more likely to achieve their desired outcomes. Finally, having a trading plan also helps to ensure that investors stay within their risk tolerance. By setting limits for each trade, investors can ensure that their losses do not exceed their risk tolerance. Overall, having a trading plan is a critical component of successful trading. It can help to ensure that investors make smart decisions, stay focused on their goals, and manage their risk appropriately [/QUOTE]
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The importance of having a trading plan
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