Successful Trading Rules

1.Always Use a Trading Plan.

2.Treat Trading Like a Business.

3.Use Technology.
4.Protect Your Trading Capital.

5.Study the Markets.

6.Risk Only What You Can Afford.

7.Develop a Trading Methodology

8.Stoploss should be placed manually or automatically always

9. Give no room for emotions.

Shelby10 posted:
Making a good and profitable strategy can make you rich in this market.

Very right, for me dedicate all my time trading and use profits to only invest in Real Estates, I'm 100% Full time Trader.

Again, a very nice list you made. Appreciating your effort.

Create a trading plan and follow it as precise as possible.
Then analyze how close you followed your plan.

Repeat.....


You will make mistakes and if you are new to trading you will 'su**' but you will learn over time what works for you and what not. However, if you simple enter trades without having a plan, you will not go far because you will not grow the needed discipline.

cardigan posted:
Again, a very nice list you made. Appreciating your effort.

You are welcome, I like sharing my successful tips to help others.

Very nice list thanks, and here is a note I took from one of the many books read which may help summarise:

1. Have a trading strategy that is at least slightly better than tossing a coin so above 50% win rate

2. Have a take profit to stop loss ratio of greater than 1:1

3. Always and NEVER ever break the rules of your trading plan as otherwise no point in 1 and 2 above

According to me. Success in the forex market mainly depends on the trading strategy. So, make a profitable strategy and make a profit from this market.

I should add - never ever trade when feeling stressed about things in life!¬

You are your worst enemy in Forex trading and you are your best trainer in Forex trading. so keep your emotion out of trading.
If you are not patience enough forget about being profitable for long....

Good advice should always be heeded and put into practice.

Money management is a part of trading. If you do not manage money, you will face a lot of losses. Money management is a part of the trading discipline. Successful traders follow money management all the time. Money management often converts bad trades into good trades. If you want to trade, you can earn a lot of money in one day, but if you do not follow the money management, this money can be spent in one day. So it is necessary to follow money management at all times in trading.

LeviSievwright5 posted:
Money management is a part of trading. If you do not manage money, you will face a lot of losses. Money management is a part of the trading discipline. Successful traders follow money management all the time. Money management often converts bad trades into good trades. If you want to trade, you can earn a lot of money in one day, but if you do not follow the money management, this money can be spent in one day. So it is necessary to follow money management at all times in trading.

Good, Money Management is and have been top most in my over 10 years of trading, and is one of my best for consistency.

Capital management is important

Note and warning to all, my email has been compromised, my only safest way to communicate is PM here, I think my formal employer is behind this.

I got to know about this as family members said they receive emails from me from Monday till now,and Iadded them to Telegram and zoom, please I'm not on this platforms.

A family member also sent money to them thinking it was me, I normally get Funds from my family member , which is actually for trades profits sharing.

My formal employer obviously saw the thread I said never trade for mafias, obviously I was compromised by email sent to my assistance who is from Philippine, I employed her here in Dubai to always alert me about emails, which i do reply when I'm not trading, and email was sent to my mail box with malware in it, due to she is novice, she click on the link in the email and that is it.

I also Iost 100k transfer to bank in Singapore, I never initiated this transfer via email, but I'm glad I noticed on time, and stopped further transfers by calling banks.it would have been up to 700k.

And please if anyone here contacted me via email and got directed to Telegram or zoom, Please not me.

I'm working currently to recover my email, submitted all recommended documents.
And I have stopped providing live trades on YouTube's channels of mine and shut it down too, obviously that was the omega of them getting the link to my threads and follow up my daily trading live updates . Thank you.

If you want to become successful in this market, you need to make a profitable plan. Without a proper plan, you can not survive in this market. So make a good strategy and earn money from this risky market.

If you want to become successful int he forex market you have to choose a good and regulated trading broker. Without a good broker, it will be quite difficult to survive in this risky market.

We always advised by the senior traders and experts just for learning. but I think we the newcomers have to practice trading besides learning process. Demo account is more appropriate for them and as a learning Process newcomers can depend on Pips School.

learning is most important , no way to avoid it but in spite of having good learning the result from trading can be useless if there is no regular practice , so be careful

Money management and risk management are essential for successful trading. And should be traded according to discipline and plan.