What Are Your Golden Rules?

Beginner Questions
21

Thanks Kashmaster

22

‘Buy Low, Sell High - that’s my motto’ Homer Simpson.

Thanks Alex

23

Trade according to the markets capacity in order to increase long-term reliability and sustainability of an accounts profits. Capacity in the Forex is very large, a good thing for traders to recognize. Exposure opposite of certain risks creates real and tangible profits.

24

Never take more than 2% risk in an individual trade position.

25

My golden rule is: follow the market trend; now I am not interested in counter-trend trade setups.

2 Likes
26

i have other peals of wisdom too :slight_smile: dont be influenced by others, trade your way and believe

2 Likes
27

Thanks Audvantages!

1 Like
28

Okay Alex, I’ll bear that in mind

2 Likes
29

Cheers Konrad

1 Like
30

Thanks Lau

1 Like
31

Love this couldn’t agree more

32

This is so true however others feedback does help you to find the best way to trade I think

1 Like
33

Yes I’m following the forums constantly to sharpen my skills

34

You never know what you might learn :blush:

1 Like
35

my golden rules are:

  1. always set a stop loss
  2. define my budget beforehand
  3. always be updated with news that might affect my trades.
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36

The first golden rule for trading is that you must always start trading on Demo before going to a real account. That way, you’ll not feel the risk since you’ll use artificial money and still learn how trading occurs. That familiarity is crucial

2 Likes
37

I think trading with stop loss is the most sensitive rule in forex trading. Forex trading can be enticing, and you can be lured by greed or ego to trade without a stop loss, thinking that the market will favor you. More often than not, you’ll end up on the losing side of the game

38

This is my golden rule: Never trade without a trading plan. This is suicidal since failure to plan is just like planning to fail. Forex is just like any other business where you intend to get a profit in the end. You must have a plan and stick to it if you don’t want to make losses instead

39

3 good rules there Christofx thanks

2 Likes
40

Yes well said 5imedinvi