Absolutely, it brings in some form of discipline too.
Yes, even do that. Inculcated that habit a bit later after I started but no doubt it helped me a lot.
The rules mentioned in this thread are all “golden”. But they are still rules. And rules have a habit of disappearing in the “heat of the battle” when you most need them.
Rules are external and that is often the problem.
You must absorb them and practice them until they become internal, automatic, habits, a part of you, things that you do without even thinking what the rules are.
Do you drive at a certain speed just because it is the rule or because of how you constantly evaluate the current road and traffic conditions.
Trade as a professional, analytically, with consideration. Confidence in yourself and your approach is essential in reaching consistency and tools that help build that confidence are typically “keep it simple” and “less is often more”.
If revenge trading is an issue then take smaller positions that you are more comfortable with and trade on longer timeframes like a 4-hour chart. If you have to wait for at least the next 4-hour bar to complete before another possible trade then emotions will have settled considerably in the meantime and brought you back to a rational state of mind and refocused on your method.
Rules are good but turning them into good habits is even better 
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Fundamental analysis is also a must in trading imo, traders got to be on top of their game in staying updated on the important economic factors that are likely to affect currency prices. Technical analysis is also important.
Rightly said, Traders should plan their strategies and be consistent at it
It is very important for the traders to make and use a Trading Plan that can start giving them a good income from the Forex markets.
Yes, you are absolutely right!
The three golden rules which everybody is talking about are true in every aspect but the challenge is making these rules a habit. Once you are successful in making these rules a habit, you’ll stay in the game for a longer time.
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I think not only trading plans but proper financial knowledge for the forex market will let you sail through your trades. According to me forex trading must be a mix of what you have learnt and experienced through your past trades.
That is quite right. But I feel that the play book for trading can not be limited to 3 golden rules, there are other things like be more aware about all the fluctuations taking place in the market, and minimising the losses at times in contrast to earning profits. The last one would be to tame the emotions to an extent that they longer impact the decisions related to trading.
The use of the Trading Plans is very important for any type of Forex trader. This is because a trader always needs to stick to his trading plans.
1 rule is the most important thing in trading, because at some point with any strategy, income will go. Just patience and that’s it
Exactly, one must make a proper trading plan and better to stay stuck to it.
If we are satisfied with the performance of a Trading Plan then we can start using it in doing our trades.
Exactly. One can not trade if they get carried away easily.
I totally agree with you. It is important to be consistent with strategies which comes with practice.
I agree with you, trading journal is really important. It helps you to remember your faults so that you can improve and avoid it next time
Great thought and how about adding market analysis to it? I seriously believe that analyzing the weekly market and the changes help a lot. Accordingly there can be few tweaks made that would just help trade better the next time.
Golden Rules for Trading:
Rule 1: Treat Trading Like a Market.
Rule 2: Master One Strategy At A moment.
Rule 3: Risk Only What You Can Afford To Suffer.
discipline
patience
education
Keep practising - Backtesting the strategies - Trade with SL