Follow your trading plan.
Can you still follow your plan when market noise arrive? Would you agree to me that trading with our own analysis is more profitable than other method?
The question should be: Can I afford not to follow my trading plan when there is market noise? 
The purpose of a trading plan is so as to avoid getting in and out of the market because you are 'lured' into trading it by the noise. A plan is meant to guide you on how you should approach the market so you will not fall into the trap of emotional trading.
On the other hand, if you assess that the market is moving erratically and it is not giving you clear trading setups based on your plan, then the best option is to avoid trading the market for a period of time.
Do not worry that you will miss out on opportunities because the market will be there tomorrow, next week, next month and many years thereafter.
| If you do not have a trading plan, make one. If you have a trading plan, follows it strictly! Never ever attempt to hold your weakened position and hope the market will turn back in your favor direction. You might end up losing all your capital if you keep holding. Move on, stay within your trading plan, and admit your mistakes if things do not turn as you want. |
Best method is to avoid noise specially on news time. I always stick to the rules of my trading plan and never go against the rules. Because I had bad experience when I tried to go against.
Hello Guys,
In my opinion trading plan should be a solid & steady one regardless of the noise and other challenges.
Can you still follow your plan when market noise arrive? Would you agree to me that trading with our own analysis is more profitable than other method?
Yes, I would agree with you on that. I trust myself the most and therefore I follow my own trading strategy regardless of market conditions. I trust my strategy as it has stood the test of time. Successful traders always follow their trading strategies without emotions.
The question should be: Can I afford not to follow my trading plan when there is market noise?
The purpose of a trading plan is so as to avoid getting in and out of the market because you are 'lured' into trading it by the noise. A plan is meant to guide you on how you should approach the market so you will not fall into the trap of emotional trading.
On the other hand, if you assess that the market is moving erratically and it is not giving you clear trading setups based on your plan, then the best option is to avoid trading the market for a period of time.
Do not worry that you will miss out on opportunities because the market will be there tomorrow, next week, next month and many years thereafter.Couldn't Have Said It Better
Can you still follow your plan when market noise arrive? Would you agree to me that trading with our own analysis is more profitable than other method?
whether the market decides to rain hell or gives you great time, the system has all these povisions: eg when I should close a trade before a SL or TP is hit.. and such. Create a system that works for you no matter what and you will be good to go. PA
Yes that true as when you trade with your own method you will certainly make good profit. Rather than using someone else strategy it is better to use your own as you will be able to analyse your mistakes and correct it where applicable!
The fate of most people in the financial markets is the consequence of undue patience, coupled with inordinate avarice. Lack of patience in trading has led numerous traders to overleverage their portfolio excessively (instead of using high leverage judiciously) because they want to turn a small portfolio to 5-figure income as soon as possible. Newbies who make huge gains and huge losses are less happy than those who go for small losses, and consequently small profits. The use of small position sizing and safe risk control doesn’t appeal to those who want instant gratification. According to Clem Chambers, you should strive to get rich slowly rather than to get rich quickly. Looking for instant riches tends to satisfy human emotions, but it can lead to quick penury.
We should always have trading plan when we are trading in the forex market, the rule have a trading plan and trade the plan holds good for the traders to make good trades.
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Can you still follow your plan when market noise arrive?
Would you agree to me that trading with our own analysis is more profitable than other method?