6 golden rules for successful trading

[Marketnes 201]

On 1/26/2020 at 3:51 PM, talo122 said:

 

 

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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These rules are very complete, to take into account but above all to apply. Trading is psychological, they say, you have to observe the fundamentals and techniques, you have to make a decision on how to operate, thanks for the information.

[jkuzina0911 26]

29.01.2020 в 16:53 Мизан сказал:

Спасибо, братан. Ваши очень полезные советы. Кто использует эти шесть шагов. Привет может успехов 

советы конечно полезные но разных людей разных национальности свое мировозрение а это не маловажный фактор! 

[cooliez2 81]

Oh yes, your posting is very help and useful. Thank you for these great tips. I will remember everything and try to learn. Then I start to implement it. I will start small. If you set up a plan and rules for yourself, and follow them, you can become quite successful over time.

[Mdavlat 25]

Patience is most important thing in trading. If we lost part of our money,  we should stop trading and start it again in another day. We should use Risk Management. I mean that we have to trade only with 5% of our balance daily.

[trungnguyen 49]

I think a trade that wants to be successful must develop its own trading strategy that suits me and always set a stop loss or stop loss.

[mohsenfx 19]

Using handling gains in addition to crashes, there ought to be some qualified benefit in addition to mastering many doable alternatives. One's management above the possibility of your orders is usually as a result of preventative instructions to quit failures.

[benalmoh88 1500]

i agree with you for all those rules, you can add more rules for example patient in trading, about the third rule, in last time i'm lost 0.01BTC, because i'm don't used stop lose and all coins prices are decreased with high percentage. 

[Razan alikac 1899]

One of the successful trading methods is for the trader to be flexible. The only constant thing in our life is change. We must be fully prepared for emergency changes and develop and update methods for market engines that are constantly changing.

[Cleaner 2549]

On 11/13/2020 at 7:40 PM, Tulip_al said:

I would also advise traders not to buy currencies based on unfounded advice.
There are a lot of fraudulent cryptocurrencies, so do not buy a currency just because someone said it will thrive someday.
You should research the currency project and also analyze the currency technically.

exactly @Tulip_al..We should not buy any crypto currency by listening to anyone. Because there are a lot of fake coins in the crypto world.  So we should be careful while buying coins.  Coins play an important role in trading.  You need to buy coins from a platform to trade.  You need to buy a coin that has good supply and demand.  You can profit by trading with DLRS and talk tokens on yobit platform.

[MuhammadSh 3067]

Trading isn't easy as it sounds and you mentioned some of the most advanced tips in this cryptocurrencies trading world.. but it takes much time just to be able to listen to your charts and depending on yourself to decide decisions like that.. 

By the way , i couldn't agree with you about the fourth rule! it wouldn't be a good idea not to put an order for your target if you are entering a short or even mid deal.. maybe this would work with long-term deals in my opinion..

[Omar Ommeish 4872]

All these rules are important for all of us in order to achieve profits in trading cryptocurrencies and avoid losses, but I think that the most important rule of them is to continue learning because many traders, when they start making profits, they stop learning more strategies and this is wrong because science has no limits.

[Emma William 2399]

Add to that, avoiding fear or even completely forgetting about fear when you want to enter a deal in the world of trading .. Fear often leads to negative results .. But we have to distinguish between fear and haste! Fear does not mean haste! We must enter trades when we have studied and analyzed the currency chart well

[Tine0313 3053]

I only read this topic now and for me it is a great help for me as a new in trading industry. I hope i can apply this rules in my daily basis so i can quite avoid the losses in trading. I want to learn everyday about trading because it will be a big help for every tomorrow that will come.

[minisrt_black 1112]

for me, there are three Golden rules: do not work in the negative, store and exchange in trusted sources and do not take risks because these rules basically leave you without money

[Ramz99737 1196]

Thank you very much, these are really great rules to keep in mind when trading, but I think these tips are not enough to ensure that you get a high profit, it depends on experience.

[tienda 8776]

Yes @talo122 I agree your 6 golden points are very important to take inconsideration when we do the trade. The experience is gained with time and practice. All cryptocurrency users have started as newbies in such website exchange platform and sure they have made some errors or mistakes, but from those errors they learned many things about trade. 

[KHALED ADWANI 1216]

The third rule is very important
After experiencing the first loss I started using it and now I do not enter any deal. If I did not specify the loss order, this is an important thing to stop your chain of losses before it reaches bankruptcy.

[Amir bhai 464]

There are many rules for successful trading. But some important points are given below. 

1- Suitable plan for trade 

2-Investment for trade 

3- trader should be hard worker 

4-Give more time to trade 

5- earn profit should invest in trade 

So these are the important points which are necessary for successful trade. So we should be learn these points and earn lots of money

[Moontong 5312]

That is just common advise that I've always read on how to be a good trader, well that is somehow useful but it would be better if the advise is about the technical one. That will really help a person to become a good trader.

[mohamedpc1 2213]

When you organize your time and set your goals well and are certain that you have sufficient knowledge to achieve profits, you are on the right path in order to reach your goal with ease, so my advice to beginners is to try to learn always and not just search for profit.

[James bond 75]

You noted a great hints, you're proper those are the critical guidelines that we want to observe if we need to make a a success buying and selling, you can not be an professional in quick time however with a few revel in you may be, due to the fact each professional in buying and selling became like us amateur and he become asking and looking for suggestions like those, so sticking with them is the proper manner for all crypto earner and trader

[Zains031 426]

Thanks alot my dear friend for sharing this useful information with us... Because if anyone become successful so they must follow these all tips which are mentioned in this post... You not become successful trader in short time because in short time you not learn more ... I think you become successful trader in long time because in this duration you learned more and have much experience about the trading...

[Naseer Ahmad78 721]

No dout ,these steps are very important in trading in the field of cryptotalk currency but i am disagree with the profit statement.Profit is also profit even it have low money.

[Tawari 888]

My friend you are share important information about trading. The 6 rules are very important and helpful for trading. Anyone following the rules of trading and achieve our goals easily and early. 

[jackycrypto485 1055]

Thanks for these golden rules in trading, I am happy that the members put their experience here in the forum for the benefit of everyone, yes, following the rules is very necessary in success, also risk management is important in trading and it is a complete art and needs a lot of learning and experience, also controlling emotions Such as greed and fear of harm when trading.