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In trading everyone should have some rules

Rasperr (Rasperr)
Feb 24 at 15:53
19 posts
UweMoench posted:
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.

Rules/strategy is essential.
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.

triticieek
Mar 18 at 09:46
35 posts
Well, that depends from trader to trade. Some of them like to set some rules and boundaries while others trade as they wish.

angelicafreeman
Apr 05 at 09:55
13 posts
That is right and if every trader sets individual rules, they can achieve them in time and make some good profits.

Dictiony
Apr 05 at 10:10
216 posts
Completly agree, if you want to be a successful trader then you always need to learn the basics and follow the rules of trading.

SofieAndreasen
Apr 05 at 14:01
441 posts
Dictiony posted:
Completly agree, if you want to be a successful trader then you always need to learn the basics and follow the rules of trading.

Traders also need a profitable trading strategy to make consistent profits and survive in the market.

AliaDare
Apr 05 at 15:31
451 posts
Dictiony posted:
Completly agree, if you want to be a successful trader then you always need to learn the basics and follow the rules of trading.

Yes, that's right. It is impossible to be a professional trader without an idea of the basics.

Akasuki
Apr 06 at 10:30
112 posts
Yes every trader should have some rules of what to do and what not to do in trading. It can help to reduce making mistakes.

RobSchiz
May 06 at 07:10
142 posts
Akasuki posted:
Yes every trader should have some rules of what to do and what not to do in trading. It can help to reduce making mistakes.

Following rules is very much important for every trader to make money form this market.

UweMoench
May 10 at 08:02
412 posts
Most amateur traders take revenge trading to recover the loss. But the majority of time revenge brings misfortune for them. Trade should be opened only if it supports your strategy.

Sarjohn (Sarjohn)
May 12 at 08:31
146 posts
Dictiony posted:
Completly agree, if you want to be a successful trader then you always need to learn the basics and follow the rules of trading.

Totally agree, to become a profitable trader you would need to follow basic rules and create your well defined strategy.

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