Successful Trading Rules

I think goal is important in trading. But do not force your natural trading decision based on your target.

Trade, in general, should be based not only on goals, but also on additional resources.

SteveHanks posted:
I think goal is important in trading. But do not force your natural trading decision based on your target.

If you don't set a goal, you can not make a good strategy.

In Fx trading, learning is not easy despite of having too many sources including pips school, learning sometimes boning and usually new traders get tempts to start trading without enough knowledge and become fascinated with the way of trading live which may cause laziness and trapped by wishful thinking get rich quickly scheme

Tremblay posted:

SteveHanks posted:
I think goal is important in trading. But do not force your natural trading decision based on your target.

If you don't set a goal, you can not make a good strategy.

Yes. You are right.

What are the rules? Are they coming from math?

automated trading is a source to bring profit even though there is no trading knowledge and experience , so of course someone can use it with no doubt.

Only trade if you are 100% confident in the trade. That is my 1 and only trading rule

In my opinion, every trader must have some rules which he/she has to comply. To my mind, these rules are:
1. Never be greedy and don't rush. It's verysignificant mainly because you are able to avoid serious mistakes. Of course mistakes are your experience, however if there are people who already made these mistakes, then you'd better listen to their advice.
2. Don't neglect money management and risk management practices. Actually, it's the same as the first rule, neverthless it's much more detailed rule, you know. Don't open a position if you're not sure.
3. Concentration and learning. It's simple. Just learn and practice, learn and practice. On demo, on a real acount or somehow else. Always concentrate on your trading activity and weigh all pros and cons according to a particular situation.

Practice in the demo to build a god partible trading strategy.

Don’t be greedy or take the trade with emotion.

Being greedy is the most dangerous thing in Forex trading. Controlling emotions is the best part in Forex trading. Those who can't control will lose money.

Be patient, don't be greedy. Expect what you can achieve according to current skills and focus on developing more skills and experience.

NzeCapitalTrades posted:
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.

Always have a good strategy

How to avoid losses is a frequently asked question but traders should understand they can’t fully avoid losses but they can minimize the percentage of losses.

Leverage is a loan offered by brokers whereas spread refers to the commission taken by brokers. High leverage and low spread are always expected.