What Are Your Golden Rules?

Atchris posted:
1. test fresh strategies on demo
2. trade with stop loss
3.never follow the crowd blindly.

Good rules these

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!!!!

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!!!

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.

My number one golden rule is Money Management. Never bet more than what I can afford to lose.

Dont be greedy, take loss when needed

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?

wolfmancreek posted:
My number one golden rule is Money Management. Never bet more than what I can afford to lose.

Classic rule!

Hedgefunderpro posted:
Dont be greedy, take loss when needed

Thank you

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

ScottyCarsonMVP posted:

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?

1 year with very low risk per trade(say 0.25%).

My main rule is to not risk what I can`t afford to lose.

My unparalleled standard! Hazard the board, deal with your hazard and you won't come up short.

Dont be ravenous, assume misfortune when required

The Golden Rule is the principle of treating others as one's self would wish to be treated. It is a maxim that is found in many religions and cultures. The Golden Rule can be considered an ethic of reciprocity in some religions, although other religions treat it differently.

My rules for achieving a profitable trading voyage is the successful utilization of funds with the proper monitoring of risks. I won't simply put my funds at hazards any moment. Rather I prefer to wait for the time pattern to be well organized so that after proper analysis i can make the best decisions for my funds.

ScottyCarsonMVP posted:
What timescale what you recommend instead? Or can this not be answered?

Multiple time frame analysis

My golden rule is to trade without emotions and greed.

Before trading, proper research should be undertaken which is hardly done. Investors generally go by the name of the company which is not the right way to put your money into the forex market. So, informed decision making is important.