6 golden rules for successful trading

[talo122 735]

 

 

Rule 1: 

Follow Your Written Trading Plan

 This is the #1 reason why traders fail. It is human nature to want to vary or break rules and it takes discipline to continue to act in accordance with the established rules.

 

Write out a plan, even if it’s simple at first, and follow it religiously.

 

Rule 2: Keep Learning On A Daily Basis.

The markets are changing every single day and the strategies that you may have used 5 years ago might not work now. You need to continue to educate yourself on a daily basis.

 

 

Rule 3:

 Don’t Let Losses Compound.

Per your trading plan you should already know when and where you will cut your losses. Whether it’s a technical failure or percentage move doesn’t matter as long as you have something in place to mitigate risk.

 

 

Rule 4:

 Never Set A Price Target.

  Don’t set a price target and automatically get out of good trades. If you are long a trade and the pair hits your “target” don’t just automatically exit! Let profits run wild. Place a trailing stop loss order and see how high it can go from there after locking in gains.

 

 

Rule 5: 

Master One Strategy At A Time.

Never jump from one trading style to another. Master one style and strategy first rather than becoming average at several.

 

 

 

Rule 6:

 Listen To The Charts .

In case you didn’t already know, you cannot affect the market.

Everything is reflected in the price and volume when it comes to technical analysis .

 

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[Mizan 96]

Thank you bro.your tips very useful.who use this six step. Hi can success 

[Migo 7946]

You mentioned a good tips, you are right these are the important tips that we need to follow if we want to make a successful trading, you can't be an expert in short time but with some experience you will be, because every expert in trading was like us newbie and he was asking and searching for tips like those, so sticking with them is the right way for all crypto earner and trader

[Honny143 13612]

You give 6 good tips to do trading its help to every one when they start trading but I don't think any tips and tricks work in trading because I think buy low price coins hold some more time when the coin price goes high sell them and earn profit do this process in another coin same but one think you do daily its follows coin price chart

[Hendy1 370]

You are right, there are several stages that must be passed by a trader before becoming a successful trader. The first thing a trader must have is his expertise in controlling emotions, Utilizing mastered tools, being consistent, sticking to the plan, disciplining financial management in trading, studying your successes and failures, Don't fight the market, Don't Guess, Have Confidence and Reasons for Trading. May be useful

[iloveyobit 6599]

In my opinion, these tips are not completely complete. I forgot to use the stop loss in every deal. Also, the necessity of dividing the capital, especially in the crypto market, thanks in any case.

[Sasaki 171]

Good tips, it can help others who just started trading, well in trading there are a lot of factors you need to consider not just the golden rule so the one who can make a decision is ourselves. 

[cryptousd20 141]

They are really good rules that must be followed in trading and learning from mistakes and gaining good experience so that new traders must be good in their first trading and not to rush

[nicolas1234789 2566]

On 1/27/2020 at 2:51 AM, talo122 said:

 

Rule 4:

 Never Set A Price Target.

  Don’t set a price target and automatically get out of good trades. If you are long a trade and the pair hits your “target” don’t just automatically exit! Let profits run wild. Place a trailing stop loss order and see how high it can go from there after locking in gains.

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I just don't agree with this rules because market is unpredictable, can turn back without permission. Like or not I must say this is greedy, meaning you break rules for profit. For me limit is limit, follow it for your safety, sorry if I disagree with you.

[Jhadhasan 872]

Unfortunately, many traders are motivated by his enthusiasm to trade randomly, and this leads to loss. And when you decide to rely on a specific strategy, you should test it on a test account for a period of time.

[Ms.o 3322]

Nice tips. In addition,have patience and discipline,it is the major traits we need to practice and it is the most powerful tools to be successful in trading.

[Jbetancourt532 17]

Good rules, apart from that I recommend creating healthy habits and discarding those habits that make us less productive

[MCSGlegend 2210]

You can also add a seventh point don't let your emotions get the best of you, because I had many times, I traded for the amount I needed, but I kept trading and lost everything.

[Oxygen 1004]

Reading of rules and good information is not enough for successful trading. It is the matter of practical actually. It is compulsory to act upon advice like this to become a successful trader.

[pablomarwan 3082]

On 1/28/2020 at 6:21 AM, khaledsaifullah said:

Really informative post about trading, you point out very good rules about trading, if any person follow this tips they will be successful at trading. 

Thank you for this useful information. I hope you publish similar topics for the benefit of all
And if you have a strategy that can be applied in the field of Forex please see it
And I think that is useful information

 

[kalimoxo81 15]

Good rules, it is important to follow them to be successful, but also this market is unstable and costs a little when you are a beginner. Thank you very much for the advice.

[bliznec 22268]

For successful trading with cryptocurrency assets, you should pay attention to your portfolio and be patient, which every trader needs. 

[Xsimple 441]

This is really good help to everyone and trading is really difficult and many things need to learned before you can make profit on your trade.

[Whydoyoucare 1094]

For me to become successful in trading, having the knowledge and doing things right will make you achieve your goals. And also always remember this dont be greedy in crypto trading. 

[phizusiki 239]

On 2/22/2020 at 2:33 AM, Rameez lie said:

The 6 guidelines you share are great. I do exchanging. So I will adhere to your guidelines. Since I think on the off chance that I adhere to these standards I can be a decent dealer.

wait for many results, including not determining the appropriate time to close a winning trade after repeating a loss once or twice, the trader may close the next trade after gaining a profit. small profits for fear of losing. I have traded many times with the money I need, but I continue to trade and lose everything.

[jacker 1095]

I think these 6 principles are the most basic and every trader should keep in mind, though incomplete, but it is an important part. About the graph in number 6 you say, I recommend everyone to learn how to read the graph.

[bentayebsalah 2280]

Indeed, these are good tips and useful for achieving success in the field of trading in cryptocurrencies and are considered golden tips in addition to patience and lack of greed

[ram007 391]

i just beg to disagree with the statement abobe,setting a price is important,profit is stil profit even how small it is,greediness can result to nothing.

[Shimla Diya 42]

In cashing you didn't buy now know, you can not assume the market. Everything is reflected in the penalty and part at what time it comes to mechanical examination. Though the rules are really great 

[Hassanali 22]

The rules or steps given are indeed important for trading. Because in a trade that is truly for profit is something like this that we must really pay attention to.