What Are Your Golden Rules?

[ScottCarsonMVP]

What are your golden rules, that you always abide by, when trading???

 

[Enivid]

Have a clear entry and exit plan and do not risk to much on a single trade.

 

[J_C_Anderson]

Keep in mind risk management rules and always trade with stops.
Always stop trading and take a rest after very profitable trade or a large loss.
Write down all the trades to have enough information for analysis.

 

[Ervin Samue]

Good risk management and a trading plan is the golden rules of forex trading.

 

[walpants]

always use a stoploss no matter what.

 

[Zack King]

Have a clear entry and exit plan and do not risk to much on a single trade.

what the above person said ! Very well said.

Following economical news (investing.com) is a massive must for me for present and future trades

 

[hayseed]

What are your golden rules

//------

trade with the trend....

trade with smallest lot size....

trade with realistic goals.....h

 

[Ulacan]

Don't spend/invest more than you can just allow yourself to loose like for fun anyway. In any way do not take any loans for that matter and everything else like that. Only invest by your means. Go for reputable broker with real life reviews which can be verified.

 

[momo3HC]

Never risk what you can`t afford to lose.

 

[larry_009]

What are your golden rules, that you always abide by, when trading???

As a trader, my book of golden rules includes the following:-

• I make sure I follow my trading routine everyday, beginning from the pre-market research till the EOD hours.
• I try to trade the maximum during the first three hours of every major trading session
• being disciplined is quintessential if you want profits to come in. Therefore, do not be over-excited while trading.
• I stick to one trading plan only. Frequent switching over between plans can be dangerous.
• Last, I never chase the markets. Never try to catch every opportunity. Patience is the key.

 

[REB_FX]

Patience, maximum 2% risk per trade and RRR of 2:1

 

[Ethanfx]

stick to my trading plan and not bet a single penny more than what i have set aside.

 

[Ray316]

Never Trade When Tired
Never Trade When Mad/Sad/Overly Emotional
Never Try to win back a loss
Stick To the Plan - ALWAYS!
Never break any of the above rules

 

[Hong Kong Phooey]

Set trade
Leave trade play out and hit SL or TP
Think bigger picture
Learn risk to reward and money management
set your SL further away than everybody else 😛

All I can think of for now 🙂

 

[momo3HC]

Never Try to win back a loss

As a trader, my book of golden rules includes the following:-

• Last, I never chase the markets. Never try to catch every opportunity. Patience is the key.

In short - Never try to catch the falling knife.

 

[DT77]

In short - Never try to catch the falling knife.

I like that quote 🙂

 

[Steveday]

Never risk what you can`t afford to lose.

very,very important

 

[momo3HC]

very,very important

MOST important even.

 

[walpants]

i have a new one, never try and force a trade if it isnt there be patient and let it come to you

 

[Petez_FX]

1. Risk Management.
2. Don't enter a trade unless confident.
3. Don't over trade.
4. If the market isn't going your way, get away from the charts for the day and start again the next day.