Trading Strategy vs. Trading Plan.

[imansby]

trading strategies and trading plans are two very important things in the world of forex. trading techniques we need to master to be able to get profit from every OP that we make. while the trading plan must be developed to plan our trade, how much profit will we earn and how many losses we have prepared.

[AD Capitalist]

AS per my opinion bot the trading plan and trading strategy are must things for successful traders because without that we can not able to make consistent profits.If we have strategy and not having plan will also make loss.

[riyanaml]

The forex trading strategy is be obliged to and its permanently indispensable to us to give somebody no option but to a able amount of profit while burden trading and if we hold our strategy which is tested and proved its lucrative after that we can advantage it and give somebody no option but to a able profit and the more our strategy will be strong the more we can able to earn profites really !!!

[SlaiteR_95_]

Some people think trading strategy and trading plan are the same thing, but this is not really the case. Trading Strategy just tell you when to enter and exit trades while trading plan is more comprehensive and includes trading strategy. A trading plan may include market to trade, time frame, strategy used, entry and exit rules of strategy and money management and risk managent rules.
And so we need a comprehensive plan for trading and not mere a strategy.

Dear

It depends on your performance only

For example, there earns 1% to 2% and sometimes 5% on the day

But most of them are professional traders

The most important thing is practice, of course, after Forex Education

Preferably not less than 6 months

With time you will learn how to adapt to the market and choosing the right strategy

Prefer to monitor your performance

[ku_lock]

I agree, it does two things are very important. because the two things that we can get support for gains in trade. strategy will help us to trade well, and planning will support us to be able to always make decisions well in all conditions, because the plan is to make us always think about what might happen when we do forex trading. so two things are obviously very important in our trade.

[roro mendut]

For me its really wrong to loose a trade. Because if you loose a trade then that means your not serous at all. What you need to do it to be firm in all trading position you open in times of loses and profit you must hold on to your SL and TP and to your strategy.

[gulab]

A trading strategy is to when to open the deal and when to close it, it dont show which volume you have to open,
but a trading plan is that show you all the areas of Forex and guide you that how much size you have to open and it include the trading strategy also.

[Chelsea91]

both of them are important, strategy is important for growing your balance and in the same time you should have a plan how to enlarge this balance in short time and make your strategy gaining more money, no one of them can replace the other

[amit87757]

According to my knowledge both are totally different from each others. A trading plan is a plan which make for proper trading, it must include a trading strategy. A trading strategy is a strategy on which we re going to trade in Forex market. Trading strategy includes technical terms, technical as well as fundamental analysis and technical tools which are used for getting proper profits through trading.

[WajeehBJ]

Frankly, I think trading strategy and trading plan are quite a bit of related terms. Although to be more specific, I am gonna say both are really important. If you don't have a firm strategy to back you up, then you won't be able to make good money. And trading plan tells you what profit do you want to earn and after hitting your day for a day when you have to leave the market and get out of it.