What Are Your Golden Rules?
Member Since Jan 05, 2016
1189 posts
Sep 01, 2019 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.
Member Since Sep 03, 2019
10 posts
Sep 03, 2019 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
Member Since Jan 05, 2016
1189 posts
Sep 03, 2019 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.
Oct 19, 2019 at 09:52
The markets are changing every single day and the strategies or methods you have used 2-3 years ago might not work now. So you need to continue to educate yourself on a daily basis and this is my golden rule that is to keep learning on daily basis.
Member Since Oct 22, 2019
33 posts
Oct 28, 2019 at 08:21
Avoid emotional trading.
Member Since Jan 05, 2016
1189 posts
Oct 28, 2019 at 22:01
Gabriel99 posted:
The markets are changing every single day and the strategies or methods you have used 2-3 years ago might not work now. So you need to continue to educate yourself on a daily basis and this is my golden rule that is to keep learning on daily basis.
I agree with you on the need to keep learning.
If it looks too good to be true, it's probably a scam! Let the buyer beware.
Member Since Jan 05, 2016
1189 posts
Oct 28, 2019 at 22:02
richard2 posted:
My golden rule is to trade within my risk limits. I never take more risk than i can afford.
Excellent rule.
Risk management in my opinion is the most important rule to become successful in investing.
If it looks too good to be true, it's probably a scam! Let the buyer beware.
Member Since Oct 22, 2019
8 posts
Oct 30, 2019 at 12:48
My golden RULE! NEVER run your automated system trading in red card news day.
Never stop learning from strangers.
Member Since Apr 06, 2018
254 posts
Oct 30, 2019 at 14:20
mariaartenia posted:
My golden RULE! NEVER run your automated system trading in red card news day.
I beg to differ.if you are using a trend following system then during high impact news this system will give u decent profits but if you are using Grid type EA then trade during high impact news will be disastrous for your accout.
The market will trade through it’s path of least resistance .
Member Since Aug 27, 2017
994 posts
Oct 30, 2019 at 15:58
mariaartenia posted:
My golden RULE! NEVER run your automated system trading in red card news day.
Same here; I am also interested in manual trading! Using others trading strategy or System isn’t a proper solution!
Member Since Oct 22, 2019
33 posts
Nov 01, 2019 at 05:16
AniLorak posted:AbsolutelyTygotaylor posted:
Avoid emotional trading.
That means; now you are opening any new position according to your proper analysis; isn’t? When you get all of the points approved by the checklist!
Member Since Mar 03, 2019
57 posts
Nov 04, 2019 at 11:14
VirgoG posted:Sounds sensible to me
my golden rule is:
Never trade more than set for the day. i always plan ahead the profit % for the day and how much risk i can take. so once i am done, i am out.
Member Since Mar 03, 2019
57 posts
Nov 04, 2019 at 11:16
Professional4X posted:Good sensible advice.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.
Member Since Jan 05, 2016
1189 posts
Nov 04, 2019 at 22:21
mariaartenia posted:
My golden RULE! NEVER run your automated system trading in red card news day.
Nonsense. Some automated systems exist which trade quite well during high impact news events.
If it looks too good to be true, it's probably a scam! Let the buyer beware.
