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What Are Your Golden Rules?
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Treeny

Member Since Feb 08, 2019  80 posts Treeny Mar 18 at 06:47
Abderrahmane1992 posted:
Teejy88 posted:
My one and only rule! Risk management, manage your risk and you will not fail.


I second that. Risk understanding is critical to trading. Without that even a good trader will lose all their money


I third it

LeBuffon

Member Since Mar 18, 2019  8 posts LeBuffon Mar 18 at 15:12
Treeny posted:
Abderrahmane1992 posted:
Teejy88 posted:
My one and only rule! Risk management, manage your risk and you will not fail.


I second that. Risk understanding is critical to trading. Without that even a good trader will lose all their money


I third it



Why will risk management stop you failing? Does this mean even if I randomly enter trades I will still be able to profit if I use risk management?

Atchris

Member Since Mar 20, 2019  8 posts Atchris Mar 24 at 07:06
1. test fresh strategies on demo
2. trade with stop loss
3.never follow the crowd blindly.

tracydavison

Member Since Feb 11, 2019  34 posts tracydavison Mar 24 at 07:21
great thread. I am a newbie so will be following this with interest

FMovingAverage

Member Since Jul 12, 2018  24 posts Fxekspert eu (FMovingAverage) Apr 04 at 12:14
Atchris posted:
1. test fresh strategies on demo
2. trade with stop loss
3.never follow the crowd blindly.


The last point is so important! So many (beginners especially) want to know every little detail of other people's successful trades.

Mohammadi

Member Since Aug 11, 2017  550 posts Mohammadi Apr 09 at 10:33
Successful trading is depend on most powerful analyzing trade knowledge , on the other hand , despite of good trading knowledge that’s not possible at all to lead a successful trading life at all if you don’t have a reliable support from a credible trading broker , because the broker can affects the result of our trading with certainly.

Infinox2019

Member Since Feb 26, 2019  1 posts Infinox2019 Apr 16 at 05:45
1) Select a credible regulated broker - preferably UK based with FCA regulation.
2) Risk Management! - risk management! - risk management! - is the key to success.

 

robert.davila1@
Wreeves

Member Since Apr 03, 2019  8 posts Wreeves Apr 16 at 11:10
1 - Don't revenge trade.
2- Proper risk management
3- Test new strategies for 1month and if fails then move on to the next one

nick3232

Member Since Jan 03, 2018  124 posts nick3232 Apr 16 at 13:42
always using very sound trading systems or eas

low risk

never getting greedy

Vslav

Member Since Apr 16, 2019  6 posts Vslav Apr 17 at 05:53
nick3232 posted:
always using very sound trading systems or eas


Easier said than done. How do you know an EA is sound if you have not developed it yourself. It could just be a martingale system inside

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