In trading everyone should have some rules

Dec 20, 2020 at 09:07
Vues 2,649
50 Replies
Membre depuis Jul 20, 2020   posts 298
Feb 18, 2021 at 16:34
Yes, I think the key to money trading success is discipline and plan. Because without these you will never be able to go ahead in trading. So every trader has to maintain these issues.
Membre depuis Jan 22, 2021   posts 125
Feb 24, 2021 at 11:08
Ofcourse! The financial goals and risk taking capacity of each trader is different and so are the rules. For example, for the risk management part, every trader should work on analysing the amount of risk he can take and then try to trade in that limit.
Membre depuis Feb 07, 2015   posts 25
Feb 24, 2021 at 15:53
UweMoench posted:
In trading everyone should have some rules. And you have to stick to those rules. Like there should have been a fixed risk reward ratio. It could be 1:1 or 1:2 according to your strategy. When you have risk reward ratio, you will open trade if the criteria is met. Sometimes we may need to take instant decision depending on the market situation. But rules should be there. That's the reason discipline is the key to success here.
Rules/strategy is essential.
It is the only way to accurately benchmark your decision making process and allow yourself to see 'where you went wrong' - without it, you're wasting your time.
Membre depuis Dec 18, 2020   posts 35
Mar 18, 2021 at 09:46
Well, that depends from trader to trade. Some of them like to set some rules and boundaries while others trade as they wish.
Membre depuis Apr 01, 2020   posts 231
Apr 05, 2021 at 10:10
Completly agree, if you want to be a successful trader then you always need to learn the basics and follow the rules of trading.
Membre depuis Jul 23, 2020   posts 759
Apr 05, 2021 at 14:01
Dictiony posted:
Completly agree, if you want to be a successful trader then you always need to learn the basics and follow the rules of trading.
Traders also need a profitable trading strategy to make consistent profits and survive in the market.
Membre depuis Jul 19, 2020   posts 788
Apr 05, 2021 at 15:31
Dictiony posted:
Completly agree, if you want to be a successful trader then you always need to learn the basics and follow the rules of trading.
Yes, that's right. It is impossible to be a professional trader without an idea of the basics.
Membre depuis Mar 28, 2021   posts 617
Apr 06, 2021 at 10:30
Yes every trader should have some rules of what to do and what not to do in trading. It can help to reduce making mistakes.
Membre depuis Jul 19, 2020   posts 751
May 10, 2021 at 08:02
Most amateur traders take revenge trading to recover the loss. But the majority of time revenge brings misfortune for them. Trade should be opened only if it supports your strategy.
Membre depuis Dec 28, 2020   posts 187
May 12, 2021 at 08:31
Dictiony posted:
Completly agree, if you want to be a successful trader then you always need to learn the basics and follow the rules of trading.
Totally agree, to become a profitable trader you would need to follow basic rules and create your well defined strategy.
Membre depuis Apr 14, 2021   posts 9
May 12, 2021 at 11:11
I prefer to use other traders strategies. I tried to build my own but none worked. Now I use other peoples knowledge to help me trade
Membre depuis Sep 12, 2017   posts 238
May 13, 2021 at 10:33
I dont think rule is the right word. Once needs to focus on his/her strength. When it is followed you can do wonders mixing it with discipline.
Membre depuis Dec 05, 2020   posts 81
May 13, 2021 at 11:52
Its okay to have some rules. Those aren't rules that would apply to everyone and anyone. But things that work for an individual. I do feel its important to establish and define what works for you and give them the name of rules.
Membre depuis Sep 18, 2020   posts 6
May 14, 2021 at 08:10
Ima think of course you need to have rules. How can you trade without any rules?? Ima can't believe in it. lmao.
Ima do what Ima want to
Membre depuis Jul 09, 2019   posts 38
May 14, 2021 at 08:49
Everything that you face in life always come with rules and that is how we are able to survive and exist.
Same thing can be said to forex trading or trading in general.
Membre depuis Jan 13, 2021   posts 38
May 14, 2021 at 09:43
In every area of life and in every area of work, there are certain rules that you need to adhere to if you want development.
Membre depuis Jun 16, 2020   posts 57
Nov 09, 2021 at 04:43
Yes, rules are important in trading to minimise risks. Your rules should be incorporated as your risk management strategy.
Membre depuis Apr 09, 2019   posts 538
Nov 09, 2021 at 10:10
100%. Trading randomly will get you random results that you can't draw any conclusions from. Having some rules means you have areas you can tweak if needed while controlling the other areas. This is how to make progress.
If you can't spot the liquidity then you are the liquidity.
Membre depuis Nov 01, 2021   posts 9
Nov 09, 2021 at 11:42
I like to have 100% rules. If one of my rules is not met then no trade. This has kept me out of bad trades
Membre depuis Nov 02, 2021   posts 73
Nov 11, 2021 at 05:57
Rules are there to help you and prevent you from unnecessary losses.
There are four key rules of trading:
1. Don't trade without stop loss (money management)
2. Trade with the trend (price action)
3. Use a trading plan (plan your trades)
4. Follow the rules (risk management)
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