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talo122

6 golden rules for successful trading

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On 1/26/2020 at 9:51 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 .

 

.

Good advises but also i am confused more about the new stuff that i should start with. Good luck.

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Да, я думаю, что это хороший совет, в торговле требуются самодельные правила, правила обычно такие же, как торговые стратегии, торгуя каждый день мы будем более опытными, чтобы увидеть рыночную ситуацию, а также рыночные модели.

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Thank you, I agree with your rules 1, 2 and 6. Also i have different views you. Continuous learning is indispensable for trading, and you need a complete plan to work step by step. Be patient and try hard

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Broker has to take care of finances to quit failures. 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.

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On 2/26/2020 at 8:14 PM, RH Rahat said:

Thank you for sharing this important information with us.  I think that would be very helpful for all new traders to be successful in business.

I think it will be very helpful for all new traders to succeed in trading. And their business will improve. It is very important for beginners especially to understand it in trading and to exist in the future of their career.

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I don't have a fixed strategy for trading. I just see some sites that provides free signals or predictions and trade according to it. I am involved in futures trading and I buy or sell according to their signals. I even don't have any fixed time or amount to trade , I just do a random trade at a random time and that's how I am trading for many months.

  • +1 1

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The rule number 3 that deals with losses is very decisive for any trader. You should have a clear definition of what is really meant by losing. Sometimes you buy a coin and you see its value is dropping. You will instantly think that you are losing money but is it true? Not necessarily! Because you may sell it soon and think that you saved yourself but you might be wrong and after you sold, it might increase heavily and you will deprive yourself of a great profit. I mentioned this example to tell you that before selling your coins, make sure you have made the right decision. Any price drop doesn't mean losing money! It may be just the beginning of a big profit.

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On 2/26/2020 at 9:36 PM, Trisha rahman said:

GOLDEN RULES FOR TRADER

1.No Trading with Borrowed Capital.

2.INVESTMENT-Risk Only What You Can Afford to Lose.Invest only 1 TO 10% of your total idle/SPARE money. Rest keep safe in Fixed Deposit.

3.Do Not invest all your money in one stock. Always try to build a portfolio

4.LOSS-Never lose more than 10% of your Capital Investment in Delivery & 2% per day in Intraday.If it happens book your loss.

5.Don't buy or sell without any reason.

6.Intra Day Trading is a full time job. Don't do it if you can't stay with the market for the entire day.

 

I think that would be very helpful for all new traders who are successful in trading. Working here will make you a lot of money. Trading is really difficult and there is a lot to learn before you can make a profit from your trade.

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Good Advices! Write your plan is good, But you must to be sure that no plan can make you sure 100% that you will success, trading can make you won! And also maybe make you lost.

  • Useful or interesting 1

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On 3/16/2020 at 12:37 PM, kadayakito said:

Thank you, I agree with your rules 1, 2 and 6. Also i have different views you. Continuous learning is indispensable for trading, and you need a complete plan to work step by step. Be patient and try hard

Despite the rules one must have qualities of a trader, one of them is flexibility, because the market changes in time and you must change with it.

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On 1/26/2020 at 1:51 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 .

 

.

Excellent, you write the right words and give to the newbies a guide to watch when they feel lost, this isnt easy but with guides like this and with a good enthusiasm everything makes easier

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On 2/26/2020 at 8:14 PM, RH Rahat said:

Thank you for sharing this important information with us.  I think that would be very helpful for all new traders to be successful in business.

You should pay attention to your portfolio and be patient, which every trader needs. I think that would be very helpful for all new traders who are successful in trading. Working here will make you a lot of money.

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On 2/27/2020 at 12:42 AM, Ahmadali125 said:

In my standpoint you referenced shrewd tips, you a brief timeframe back assumed these are famous tips that we fundamental to oblige on the off chance that we try to offer ascent to a flourishing exchanging, you won't be an expert in a compact time.

That will be very helpful for all new successful traders in trading. Their business will improve. This will make all businesses more profitable in their business. You should pay attention to your portfolio and be patient, which every trader needs.

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Yes, trading for some will initially seem boring and difficult, but after following these tips things will become easy and the situation will improve with you.


 

Life is great and enjoy it

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Excellent post mate. If we masters these all tips then we can easily become successful traders. I thing the rules 2, keep learning on daily basis is more important than others. Learning is everything, the more you learn the more you know about crypto trading.

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On 1/26/2020 at 9:51 PM, talo122 said:

Don’t set a price target and automatically get out of good trades.

I read all your observations and I agree. I still think that the above is quite important but only in cases where the market is completely bullish and we are breaking above new Bitcoin ATH's with confidence. 

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You have clearly noticed these rules. Thanks for the post. I am not a professional trader but I can't follow all the points. I probably still don't have enough experience.


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On 3/1/2020 at 10:01 PM, laska smrtici said:

I am glad to be a member of this forum because the forum and the members gave me a lot of knowledge and advice and I am grateful to them

It is an important part. Regarding the graph of the 6 of you said, I recommend that everyone should learn how to read the chart. Sometimes you can just apply each other's ingredients. Though naturally, the entries need to be an informative platform for you.

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Posted (edited)
On 1/26/2020 at 8:51 PM, talo122 said:

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.

Rule 7:

Don't get emotional when doing any type of trading. You can't trade because you feel you need urgent money or maybe you feel a coin will perform better or maybe your love for a cryptocurrency.

 

An important part you missed. 

Edited by Raqeebzy

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On 3/3/2020 at 7:53 PM, Daddminna said:

no problem I judge this is a competent tip, in trading requires self-made rules, the regulations are habitually the unaffected as trading strategies, by trading every day we will be other skilled to notice the sell position and in addition the marketplace patterns.
 

I advise everyone to learn how to read charts. Everything is reflected in punishment and partly at the time of mechanical examination. I really have to thank you very much, it's good to be careful while you invest in your healing power

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Thanks for sharing these six golden rules for successful trading. Trader should have enough experience before trading. Without experience in trading can make trader loser. Beginner can follow these six rules.

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These are really useful tips in the trading world
But we must also not forget that we are controlling feelings greatly in order to be able to stay in this volatile market and of course we must implement proper capital management

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These are the good tips for successful trading. You write all things correct. Patience ia also important factor in trading. Thanks for sharing this useful tips. 


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Thanks for sharing 6 rules of successful crypto traders . Every traders should follow these rules then definitely earn money without any lose . So, traders should use all trading rules.

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