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What Are Your Golden Rules?

steve_25
Aug 21 2019 at 06:52
38 postów
The most important thing is to be inquisitive and alert . So an intelligent ,alert mind coupled with some patience and lack of emotions while trading is my golden rule to trade.

Mohammadi
Aug 31 2019 at 12:21
886 postów
beginners should go through the pips school minimum for 2 times ,
and trade in a cent account for live trading experience.

Professional4X
Sep 01 2019 at 20:09
1189 postów
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.
birthtamper
Sep 03 2019 at 11:07
10 postów
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

Professional4X
Sep 03 2019 at 20:38
1189 postów
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.
Gabriel99
Oct 19 2019 at 09:52
37 postów
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.

richard2
Oct 22 2019 at 08:11
38 postów
My golden rule is to trade within my risk limits. I never take more risk than i can afford.

Tygotaylor
Oct 28 2019 at 08:21
33 postów
Professional4X
Oct 28 2019 at 22:01
1189 postów
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.
Professional4X
Oct 28 2019 at 22:02
1189 postów
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.
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