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What Are Your Golden Rules?
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steve_25

Member Since Aug 03, 2019  14 posts steve_25 Aug 21 at 06:52
The most important thing is to be inquisitive and alert . So an intelligent ,alert mind coupled with some patience and lack of emotions while trading is my golden rule to trade.

Mohammadi

Member Since Aug 11, 2017  550 posts Mohammadi Aug 31 at 12:21
beginners should go through the pips school minimum for 2 times ,
and trade in a cent account for live trading experience.

Professional4X

Member Since Jan 05, 2016  968 posts Professional4X Sep 01 at 20:09
LeBuffon posted:
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?


If you are using reasonable risk management then you aren't going to be just randomly trading.

Trade with a strategy that uses accurate analysis of a high probability set ups for entry.




If it looks too good to be true, it's probably a scam! Let the buyer beware.
birthtamper

Member Since Sep 03, 2019  5 posts birthtamper Sep 03 at 11:07
Professional4X posted:
LeBuffon posted:
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?


If you are using reasonable risk management then you aren't going to be just randomly trading.

Trade with a strategy that uses accurate analysis of a high probability set ups for entry.






You make it sound so simple!. I get risk management, that is a process but getting a good strategy.. now that is tough

Professional4X

Member Since Jan 05, 2016  968 posts Professional4X Sep 03 at 20:38
birthtamper posted:
Professional4X posted:
LeBuffon posted:
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?


If you are using reasonable risk management then you aren't going to be just randomly trading.

Trade with a strategy that uses accurate analysis of a high probability set ups for entry.






You make it sound so simple!. I get risk management, that is a process but getting a good strategy.. now that is tough



It IS that simple.
If you manage your risks properly, then you will protect your account against massive losses.
Trade only when the market indicates a profitable setup. This may happen several times a day some times, while other times it may be weeks before the market presents a high probability setup.

Losses happen, however, it's how you handle the losses and decrease your risk that determines if your are going to be a profitable trader or not.

Don't trade just to trade.

Trade to be profitable.

Manage your risks.

Automate where possible and reasonable.

Check your emotions at the door, and never allow them to dictate your trading.





If it looks too good to be true, it's probably a scam! Let the buyer beware.
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