In trading everyone should have some rules
Member Since Jul 20, 2020
298 posts
Feb 18, 2021 at 16:34
Yes, I think the key to money trading success is discipline and plan. Because without these you will never be able to go ahead in trading. So every trader has to maintain these issues.
Member Since Jan 22, 2021
125 posts
Feb 24, 2021 at 11:08
Ofcourse! The financial goals and risk taking capacity of each trader is different and so are the rules. For example, for the risk management part, every trader should work on analysing the amount of risk he can take and then try to trade in that limit.
Feb 24, 2021 at 15:53
UweMoench posted:Rules/strategy is essential.
In trading everyone should have some rules. And you have to stick to those rules. Like there should have been a fixed risk reward ratio. It could be 1:1 or 1:2 according to your strategy. When you have risk reward ratio, you will open trade if the criteria is met. Sometimes we may need to take instant decision depending on the market situation. But rules should be there. That's the reason discipline is the key to success here.
It is the only way to accurately benchmark your decision making process and allow yourself to see 'where you went wrong' - without it, you're wasting your time.
Sam.peters@
Member Since Dec 18, 2020
35 posts
Mar 18, 2021 at 09:46
Well, that depends from trader to trade. Some of them like to set some rules and boundaries while others trade as they wish.
Member Since Jul 23, 2020
759 posts
Apr 05, 2021 at 14:01
Dictiony posted:Traders also need a profitable trading strategy to make consistent profits and survive in the market.
Completly agree, if you want to be a successful trader then you always need to learn the basics and follow the rules of trading.
Apr 05, 2021 at 15:31
Dictiony posted:Yes, that's right. It is impossible to be a professional trader without an idea of the basics.
Completly agree, if you want to be a successful trader then you always need to learn the basics and follow the rules of trading.
May 12, 2021 at 08:31
Dictiony posted:Totally agree, to become a profitable trader you would need to follow basic rules and create your well defined strategy.
Completly agree, if you want to be a successful trader then you always need to learn the basics and follow the rules of trading.
Member Since Apr 14, 2021
9 posts
May 12, 2021 at 11:11
I prefer to use other traders strategies. I tried to build my own but none worked. Now I use other peoples knowledge to help me trade
Member Since Sep 12, 2017
238 posts
May 13, 2021 at 10:33
I dont think rule is the right word. Once needs to focus on his/her strength. When it is followed you can do wonders mixing it with discipline.
Member Since Dec 05, 2020
81 posts
May 13, 2021 at 11:52
Its okay to have some rules. Those aren't rules that would apply to everyone and anyone. But things that work for an individual. I do feel its important to establish and define what works for you and give them the name of rules.
Member Since Jul 09, 2019
38 posts
May 14, 2021 at 08:49
Everything that you face in life always come with rules and that is how we are able to survive and exist.
Same thing can be said to forex trading or trading in general.
Same thing can be said to forex trading or trading in general.
Member Since Apr 09, 2019
538 posts
Nov 09, 2021 at 10:10
100%. Trading randomly will get you random results that you can't draw any conclusions from. Having some rules means you have areas you can tweak if needed while controlling the other areas. This is how to make progress.
If you can't spot the liquidity then you are the liquidity.
Member Since Nov 01, 2021
9 posts
Nov 09, 2021 at 11:42
I like to have 100% rules. If one of my rules is not met then no trade. This has kept me out of bad trades
Nov 11, 2021 at 05:57
Rules are there to help you and prevent you from unnecessary losses.
There are four key rules of trading:
1. Don't trade without stop loss (money management)
2. Trade with the trend (price action)
3. Use a trading plan (plan your trades)
4. Follow the rules (risk management)
There are four key rules of trading:
1. Don't trade without stop loss (money management)
2. Trade with the trend (price action)
3. Use a trading plan (plan your trades)
4. Follow the rules (risk management)
