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What Are Your Golden Rules?

ScottyCarsonMVP
Apr 23 2019 at 08:11
54 posts
Atchris posted:
1. test fresh strategies on demo
2. trade with stop loss
3.never follow the crowd blindly.

Good rules these
ScottyCarsonMVP
Apr 23 2019 at 08:12
54 posts
FMovingAverage posted:
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.

Exactly!!!!
ScottyCarsonMVP
Apr 23 2019 at 08:12
54 posts
Wreeves posted:
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

Great rules here also!!!
LongVision
Apr 24 2019 at 06:55
254 posts
ScottyCarsonMVP posted:
Wreeves posted:
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

Great rules here also!!!

I agree with point1 & 2 but 1 month is very short period to reject a strategy if strategy is profitable over long period(say 10years) of backtesting.
The market will trade through it’s path of least resistance .
wolfmancreek
Apr 24 2019 at 07:06
6 posts
My number one golden rule is Money Management. Never bet more than what I can afford to lose.
AccountManager (Hedgefunderpro)
Apr 25 2019 at 10:00
24 posts
Dont be greedy, take loss when needed
Slow but Profiting
ScottyCarsonMVP
Apr 28 2019 at 11:13
54 posts
LongVision posted:
ScottyCarsonMVP posted:
Wreeves posted:
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

Great rules here also!!!

I agree with point1 & 2 but 1 month is very short period to reject a strategy if strategy is profitable over long period(say 10years) of backtesting.

What timescale what you recommend instead? Or can this not be answered?
ScottyCarsonMVP
Apr 28 2019 at 11:13
54 posts
wolfmancreek posted:
My number one golden rule is Money Management. Never bet more than what I can afford to lose.

Classic rule!
ScottyCarsonMVP
Apr 28 2019 at 11:13
54 posts
Hedgefunderpro posted:
Dont be greedy, take loss when needed

Thank you
harnick
Apr 30 2019 at 08:26
9 posts
Atchris posted:
1. test fresh strategies on demo
2. trade with stop loss
3.never follow the crowd blindly.
great rules man! i follow somewhat the same
LongVision
May 01 2019 at 08:12
254 posts
ScottyCarsonMVP posted:
LongVision posted:
ScottyCarsonMVP posted:
Wreeves posted:
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

Great rules here also!!!

I agree with point1 & 2 but 1 month is very short period to reject a strategy if strategy is profitable over long period(say 10years) of backtesting.

What timescale what you recommend instead? Or can this not be answered?

1 year with very low risk per trade(say 0.25%).
The market will trade through it’s path of least resistance .
momo3HC
May 19 2019 at 10:08
276 posts
My main rule is to not risk what I can`t afford to lose.
john98
May 21 2019 at 06:07
15 posts
My unparalleled standard! Hazard the board, deal with your hazard and you won't come up short.
john98
May 22 2019 at 05:44
15 posts
Dont be ravenous, assume misfortune when required
Alexsajed
May 23 2019 at 04:31
32 posts
The Golden Rule is the principle of treating others as one's self would wish to be treated. It is a maxim that is found in many religions and cultures. The Golden Rule can be considered an ethic of reciprocity in some religions, although other religions treat it differently.
45656
Aug 04 2019 at 01:36
65 posts
My rules for achieving a profitable trading voyage is the successful utilization of funds with the proper monitoring of risks. I won't simply put my funds at hazards any moment. Rather I prefer to wait for the time pattern to be well organized so that after proper analysis i can make the best decisions for my funds.
Professional4X
Aug 04 2019 at 04:16
1189 posts
ScottyCarsonMVP posted:
What timescale what you recommend instead? Or can this not be answered?


Multiple time frame analysis
If it looks too good to be true, it's probably a scam! Let the buyer beware.
smith_fx
Aug 05 2019 at 07:00
33 posts
My golden rule is to trade without emotions and greed.
jaredtaylor
Aug 16 2019 at 07:48
50 posts
Before trading, proper research should be undertaken which is hardly done. Investors generally go by the name of the company which is not the right way to put your money into the forex market. So, informed decision making is important.
PitCarry
Aug 16 2019 at 09:30
11 posts
Professional4X posted:
ScottyCarsonMVP posted:
What timescale what you recommend instead? Or can this not be answered?


Multiple time frame analysis

For me that was the golden rule that really made a difference to my trading. All the other 'golden rules' are obvious but this one really changed my success rate
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