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In trading everyone should have some rules
Feb 02, 2021 at 09:57
Member Since Jan 21, 2021
48 posts
Rules in trading are must for everyone and following those rules is more important than that. I also have my own trading rules, listing here some of them
· I risk only what I can afford
· I always use stop loss
· Keep close eye on headlines
· Learning daily about market through various books and articles
· I never trade without a plan or strategy.
· I risk only what I can afford
· I always use stop loss
· Keep close eye on headlines
· Learning daily about market through various books and articles
· I never trade without a plan or strategy.
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Feb 24, 2021 at 11:08
Member Since Jan 22, 2021
125 posts
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
Member Since Feb 07, 2015
25 posts
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@
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Apr 05, 2021 at 14:01
Member Since Jul 23, 2020
759 posts
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
Member Since Jul 19, 2020
788 posts
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
Member Since Dec 28, 2020
187 posts
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.
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