What Are Your Golden Rules?

Grace1995

Banned
Messages
29
Good evening fellow traders, I am new to trading and therefore I am curious to know what are the golden rules people follow without fail....

The most important rule to trade in forex is you should not invest a large amount until and useless you become aware of market style and strategy. Make your analysis based on market history, the pattern the particular currency pair follows. It is better to trade on a demo account before moving to live account directly. Invest with the good broker who provides you with the tight spreads, good trading conditions and makes no requotes
 

Thoris

Corporal
Messages
156
As for me, the one rule that prevails over every other rule is trading discipline. Without trading discipline, you'll not follow your plan and as a result, you will still fail even if you have the best possible trading strategy. Discipline also helps you overcome your ego and emotions as you trade
 

ScottyCarsonMVP

Private, 1st Class
Messages
58
As for me, the one rule that prevails over every other rule is trading discipline. Without trading discipline, you'll not follow your plan and as a result, you will still fail even if you have the best possible trading strategy. Discipline also helps you overcome your ego and emotions as you trade
True words here Thoris
 

Notati

Recruit
Messages
114
My Golden rules: a) never enter a deal if you are feeling insecure about market move and b) always apply money and risk management techniques and always use stop loss no matter what is going-on on the market
 

ScottyCarsonMVP

Private, 1st Class
Messages
58
My Golden rules: a) never enter a deal if you are feeling insecure about market move and b) always apply money and risk management techniques and always use stop loss no matter what is going-on on the market
Thanks - a good rule which is working well for you I am sure
 

EuroTrader

Sergeant Major
Messages
1,048
That is very important never do work in fearful conditions. Forex trading is all about to do wrk with comfort ans easeso that you may decide best. In insecure feeling you may loose your focus , cannot trade at exact point that should be needed . Inspite of this you may puzzle to see market. Trading with plan and confidence is very important
 

Shalirad

Corporal
Messages
111
The most important advice I would have given myself a couple of years ago, when I first started, was to take my time. Because it was the rush that caused the losses and disappointments. So learn more, take small but confident steps and then success will be achieved much faster.
 

fxoday

Master Sergeant
Messages
329
I still obey golden rules to investing money in high-risk business-like as online trading, just spent money that affords to lose, because not easy to make profit consistently, maybe for the trader that already able to make money through forex, they will really enjoy in their life
 
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