3 golden rules of trading

Patience, trade journal and risk management.

1 Like

Yeah, that’s how it is supposed to be.

Skill, knowledge, practice, Control on emotioanl trading, learing from your mistakes are the most important thins to remember when trading, i believe.

I Should never take chances in your trades. If you are trading and you are not sure whether to buy or sell or where to put your prediction then you are not supposed to trade. You need to go back to the drawing board and learn how to predict the live trading raph. You should not trade with chances because that is just risking it for nothing.

2 Likes

Hello , I am a beginner and I need to know if meditation really helps to succeed in trading ?

Agreed. Dont jump from strategy to strategy. Try it first on a demo account, and if it dosent make money there, it would not also on real account

Yes, I am on it. And it has seriously shown me some good results.

1 Like

The golden rule of trading that I always stick with is that I am the one that knows what’s best for me. Just because someone is doing well in their trades it does not mean that I have to follow what they are doing so that I be the same as them. Everyone has their own trading path.

You should trade with a plan. Do not always be that kind of trader that jumps in and out of trades any time they feel like it. You need to be disciplined and not take unnecessary chances that may lead to your making loses. Trading is a very serious business.

2 Likes

Great going.

According to me they are-
Consistency
Risk management
Trade journal

I agree very important for success.

Well said!

Always stick to your trading plan and do not believe too much in news.

For me, the most important rules for trading are 1) Patience 2) optimism and 3) knowledge about the market conditions and major events.

Trading in the zone

by

Mark Douglas

awesome book on psychology.

I don’t keep a journal, i’ve tried it and it never worked out for me.
Maybe I should, but it still hasn’t made a difference.

When we are making use of a Trading journal then it will be easy for us to track our mistakes and what we can change to do better in the next trade.

1 Like

What was it about keeping a trading journal that makes it not work out? Too time consuming? :open_mouth:

1 Like

1 Never be emotional
2 Always use stop loss
3 Take calculated risks

1 Like