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What Are Your Golden Rules?
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ScottyCarsonMVP

Member Since Feb 10, 2019  54 posts ScottyCarsonMVP Apr 23 at 08:11
Atchris posted:
1. test fresh strategies on demo
2. trade with stop loss
3.never follow the crowd blindly.


Good rules these

ScottyCarsonMVP

Member Since Feb 10, 2019  54 posts ScottyCarsonMVP Apr 23 at 08:12
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

Member Since Feb 10, 2019  54 posts ScottyCarsonMVP Apr 23 at 08:12
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

Member Since Apr 06, 2018  198 posts LongVision Apr 24 at 06:55
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

Member Since Apr 23, 2019  6 posts wolfmancreek Apr 24 at 07:06
My number one golden rule is Money Management. Never bet more than what I can afford to lose.

Hedgefunderpro

Member Since Apr 09, 2019  24 posts AccountManager (Hedgefunderpro) Apr 25 at 10:00
Dont be greedy, take loss when needed

Slow but Profiting
ScottyCarsonMVP

Member Since Feb 10, 2019  54 posts ScottyCarsonMVP Apr 28 at 11:13
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

Member Since Feb 10, 2019  54 posts ScottyCarsonMVP Apr 28 at 11:13
wolfmancreek posted:
My number one golden rule is Money Management. Never bet more than what I can afford to lose.


Classic rule!

ScottyCarsonMVP

Member Since Feb 10, 2019  54 posts ScottyCarsonMVP Apr 28 at 11:13
Hedgefunderpro posted:
Dont be greedy, take loss when needed


Thank you

harnick

Member Since Apr 29, 2019  9 posts harnick Apr 30 at 08:26
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

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