What Are Your Golden Rules?

Discussion in 'Newbie Questions' started by ScottCarsonMVP, Feb 10, 2019.

  1. ScottCarsonMVP

    ScottCarsonMVP Newbie

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

    Enivid Administrator Staff Member

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    Have a clear entry and exit plan and do not risk to much on a single trade.
     
    ScottCarsonMVP likes this.
  3. J_C_Anderson

    J_C_Anderson Trader

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    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.
     
  4. Ervin Samue

    Ervin Samue Trader

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

    walpants Newbie

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    always use a stoploss no matter what.
     
  6. Zack King

    Zack King Trader

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    what the above person said ! Very well said.

    Following economical news (investing.com) is a massive must for me for present and future trades
     
    Last edited by a moderator: Mar 25, 2019
  7. hayseed

    hayseed Master Trader

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    //------

    trade with the trend....

    trade with smallest lot size....

    trade with realistic goals.....h
     
  8. Ulacan

    Ulacan Trader

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    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.
     
  9. momo3HC

    momo3HC Trader

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    Never risk what you can`t afford to lose.
     
  10. larry_009

    larry_009 Newbie

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    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.
     

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