What Are Your Golden Rules?

[fxoday]

Spent money that affords to lose, this is golden rules in the high-risk business including forex, choosing a reputable broker is important, but if in trading still fail also will lose the money, in trading stop loss is the way to manage the risk and this is good in forex due market movement unpredictable

 

[Alisha Zuber]

The golden rule in forex I think is to be confident about your trade, have patience, and should not have fear to fail, instead, one should learn from the mistake and move forward.

 

[nsawork]

The golden rule in forex I think is to be confident about your trade, have patience, and should not have fear to fail, instead, one should learn from the mistake and move forward.

There are many Golden Rules of trading in the Forex markets. But we must know and understand that when we are trading the losses need to be minimum and only then we will be able to make some profits from this business.

 

[PetrovAlex]

Well. My golden rules is... It's actually, just one rule - don't invest more that you can afford to lose. This reduces amount of stress and you are not worried all the time about your money etc.

 

[pezz55]

learn to deal with DD and understand you can not win every trade but to end the day/ week in profit is the goal

 

[Qsigma]

There is only one golden rule for any trader who trade any market or even an investor.

" Make a maximum gain (profit) from a minimum risk"

It does not matter how you trading, what you trading only goal is to make a maximum gain from a minimum risk.

 

[fxoday]

A good suggestion to minimize the risk and maximize gain, although in real trading sometimes facing some difficulties, like as the trend easy to change due to dinamiyc movement and psychology trader also can affect to the trading result

 

[carnelian]

The recent Rule I have added to my trade plan is to stick with trade plan. I was changing the trade targets before but now I let them run and hit the targets or stop losses. This was very difficult to follow in start but now i am getting hold of it.

 

[Mneri]

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....

Could you please share your common rules for reaching your goals? How much time do you spent every day for trading in average? What resources do you usually use for being aware of different cases in the world trading? What type of trading strategy do you prefer? And what skills do you think should have person for successful trading?

 

[sebking1986]

Never trade without a stop loss is certainly up there. With that practice sound risk management and then be patient. You entered ther trade for a reason and set it up correctly. If it doesn't work out. You've lost what you allowed for and can just move on