When you have a plan and know exactly what you're expecting, you're prepared when things start moving.
You already know where you want to buy, where you're wrong, and how you're going to react.
But when you don't have a plan, you run the risk of reacting to the market.
You want to impose your plan on the market, not let every candle dictate a new plan for you.
it should always be "I want to buy where I want to buy, for the reasons I want to buy". Do not let the market dictate your plan for you.
Have a plan. Then react accordingly.
When you don't have a plan, you react emotionally and impulsively to every move.
And eventually, you'll end up screwing yourself over.
You already know where you want to buy, where you're wrong, and how you're going to react.
But when you don't have a plan, you run the risk of reacting to the market.
You want to impose your plan on the market, not let every candle dictate a new plan for you.
it should always be "I want to buy where I want to buy, for the reasons I want to buy". Do not let the market dictate your plan for you.
Have a plan. Then react accordingly.
When you don't have a plan, you react emotionally and impulsively to every move.
And eventually, you'll end up screwing yourself over.