What Are Your Golden Rules?

Beginner Questions
61

The most important golden rule as far as forex trading is concerned is that you must never trade without a plan, and you must stick to your trading plan. You can only do that if you exercise trading discipline to help you control your ego and emotions

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62

I second that.

63

Be strict if following your tested plan.
Don’t pay attention to the noise.

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64

Thanks Nathaniel

65

Very true Eroedon thanks

66

Yeah true words

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67

Very good advice, developing a trading plan is so important and prevents emotional decisions

68

Distractions and hype was one of the biggest things I had to overcome when I started trading.

2 Likes
69

actually over trading attitude comes form emotions , and there is no one who can control emotions when trading in practical. only real trading indiscipline can reduce the percentage of emotions.

70

This is 100% true bro…I’m looking into Renko at the moment which takes all the emotion out because it is purely mechanical…I see it working well

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71

And how did you overcome that?

72

Thanks Wara

73

Good luck with that mate

74

Keep a level head, keep it simple and plan :slight_smile:

75

Keep a level head - what’s your tips for that?

76

Don’t use leverage especially when you’re just starting out. :slight_smile:

77

Okay thanks ponpon

78

My only golden rule is- Always trade with a stop loss.

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79

Interesting topic Renko, let us know how you get on with it.

I have found it very promising so far from what I have seen.

80

Don’t watch the House of Commons! :grin:

1 Like