What Are Your Golden Rules?

[wisecraft]

Excellent services so far. I have been s trader for the past twelve years and I can boldly say that Junomarket is a company to watch out for to take and compete with other brokers who's been in the business before now.
Thanks Junomarket for the excellent customer service that I've gotten so far.
Keep it up!

 

[carnelian]

While trading I follow some golden rules like:

• - Always follow the trend
• - Do not over trade or risk more than you have
• - Avoiding stop loss is not an efficient decision
• - You should not expect to earn profits everyday
• - Be prepared to take the responsibility of all types of outcomes
• - Periodically remove a portion of profit over time

I like the last rule you mentioned and that is where many of the new traders do mistake and try to compound. Market will take back the profits you made and it is a very good habit to keep withdrawing part of your profits regularly.

 

[fxoday]

My golden rules still only spent money that affords to lose, but in trading my golden rules is trying to improve how tp determine the best price on the market based on the trend market that occurred, use simple trading strategy price action

 

[Chiyo]

My golden rule is to gather sufficient knowledge, leave emotions at the door, take both profits & losses in your stride and learn from it.

 

[benisback]

1) Wait for break of trend
2) Wait for retest
3) Fibonnaci for entry and take profit

 

[Farm_Yard_Forex]

Biggest one is stick to my risk management plan

 

[marco_mmbiz]

Some simple rules for everyone:
- 1lot per trade for every 100k of your account-size (this goes for max. account leverages between 1:100-1:500)
- something between 2-20% profit/month
- big trends and s&r zones on h1, h4, d1, w1 (no scalping/arbitrage, no EA/signals, no PAMM, no indicators)

 

[John perry]

Education
start small
get consistent

 

[Quinuiacl12]

I also think that risk management principles are very important in forex trading. My simple rules are that I am investing no more than 5% of capital per one deal and I am always placing stop loss limits.

 

[Yusuf85]

Some of my rules:
1. MM
2. trend
3. be prepared to lose the amount
4. believe in yourself
5. No stop loss.