Financial market is not easy. It is a huge market, complex and it asks to choose one trading style which suits you the best, so you can succeed. It is normal to find out that a strategy which is successful for you, does not work the best for somebody else and vice versa. Consider your personality, availability and experience. Selecting your strategy doesn’t mean to stick with it forever. Market changes, conditions change so should you. Adapt your strategy based on opportunities. It is a good idea to know all types of trading strategies and adapt what is most suitable any moment a change is needed to improve your experience.

A trading plan will improve your trading discipline, so you will understand why a trading strategy can’t work for you and another one can. You will make more cold decisions and be less led by emotions because you will know better when to take the profits and when to cut the losses. While trading, your plan will obligate you to keep track of your decisions. So, you will learn faster from your mistakes and you will improve your future actions. A trading plan differs from a trading strategy. With a strategy you will define when to open and close your positions. A strategy would say ‘sell bitcoin when it reaches $10,000 and buy it when it goes to $5,000’.