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.
Same thing can be said to forex trading or trading in general.
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.
Yes, rules are important in trading to minimise risks. Your rules should be incorporated as your risk management strategy.
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.
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
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)
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)
I got used to think that there are two main categories of rules: those rules which are general for everybody and those rules which are individual. For example, if we speak about general rules then they sound like: keep patience, never rush, think wise and learn properly. As for invdidual rules, then traders either have them or not. Everybo decides by himsel/fherself whether you create a special system of rules or not. I ted to suppose that traders must create these rules, so for me, they are: never think that you can cheat on the market, never touch high leverages and work properly on your strategy. You can also ue my rules if it adds confidence to you.
Nov 15 2021 at 07:41
Having rules in your trading is essential for your success. It will help you to focus on what is important, and it will show you which trades are the best ones to take. You can also monitor your progress better when you have rules that you follow.
The rules can be individual and also fundamental. The algorithm that allows the trader to get the maximum profit from each transaction is correct only for the current market. Be flexible and work with your set of rules, because what works now may not work tomorrow.
Nov 16 2021 at 14:47
Agreed. My biggest rules concern risk management, especially with how much I'm willing to risk on each trade. Guess I play things more on the safer side and it makes me feel a lot better knowing that there's a safety net. It's never a good idea to just go out there winging it.
Nov 24 2021 at 06:00
Rules are important to keep traders disciplined. When we set some rules and strictly follow them, it can save us from making some most obvious mistakes and helps us to remain consistent in following our trading plan.
Nov 24 2021 at 08:00
Willowerno posted:
Rules are important to keep traders disciplined. When we set some rules and strictly follow them, it can save us from making some most obvious mistakes and helps us to remain consistent in following our trading plan.
I think thats what it does most is keeps us consistent in our entries our exits and risk management. keep variables to a minimum which is the key to success imo
Nov 24 2021 at 10:30
Willowerno posted:I agree with you, if we will set some rules for ourselves it will definitely help us to be consistent and focused.
Rules are important to keep traders disciplined. When we set some rules and strictly follow them, it can save us from making some most obvious mistakes and helps us to remain consistent in following our trading plan.
Nov 24 2021 at 19:59
Willowerno posted:I agree with you.
Rules are important to keep traders disciplined. When we set some rules and strictly follow them, it can save us from making some most obvious mistakes and helps us to remain consistent in following our trading plan.
Having rules in your trading system is a good idea because it means that you have a specific set of rules to follow during your trades. Following these rules will give you an edge over other traders who do not have rules.
Dec 07 2021 at 05:46
Rules can be the difference between being successful at forex trading or not. Without rules, traders can quickly find themselves making poor decisions, which can lead to losses.
Dec 08 2021 at 05:13
@traderjakelong Everyone has their own rules. Every successful traders may have different rules but they are common in one thing that's discipline.
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