6 golden rules for successful trading

[Msh9 84]

For successful trading with great benefit, we must as follows.. To have extensive experience and comprehensive for all stages, currency monitoring and self-confidence is an important topic in order to present the best expectations and provide a good balance.

[Jrm2020 320]

@talo122 good post my friend and good information I want to add thab you have to ask experts before you start trade because they can help you and avoid you losing your money 

[cryptovlek 2597]

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

Never Set A Price Target.

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

Targets are important but as said there is need for better strategy. In crypto most traders don't have automatically set their take profit targets and there is good reason. Prices can go ten times higher from our target so we lose profit if we exit too soon, however this, to set take profit price, is mostly used in forex where the volatility is high but the prices don't escape the small frames too often.

[Majd Raslan 5 549]

Thank you for this useful information about the basic problem of beginners that they do not create their own plan by following other people's plans and this is wrong. You may have learned after the old plan that is not working at the present time. You must develop your own strategy

[Sam915 41]

Thanks brother your post was helpful.I always cheak the market chart  price before  trading.Dont just hop in to buy a sudden riseup coin the coin might fall anytime.so everyone should cheak the market  properly and  should think before  buying.

Thanks

[Zain Javed1 38]

I suggest you some golden rules of my life. 

Make plans. 

Work hard

Think about what happened when you win or lose. 

Set targets 

[Omran123 27]

Thank you, my friend, for these tips that benefit every beginner. As a beginner, I have benefited from your advice through which I can implement my work with accuracy. Thank you.

[Haley 832]

Pre-planned trading is the reason for success of many traders. Setting your aim to what you need to achieve and then planning properly your trading strategy keeping the market analysis and analyst predictions in your mind will lead you to success.

[Hasnain Afzal 102]

I know that this roles is very important for to become a successful tarder.This is really good for help to every one .we should use this roles and get more knowledge and experience and make our mind strong to become a successful in trading.

[Alkali 146]

This is an informative and educative post. You have nailed it on the head  on anything that have to do with trading. I have gained a lot. Nice tips.

[Atif Aslam521 65]

Actually I am new here and I don't know about this page completely but I want to need a person who guide me about this page completely but I want to earn money online 

[teebasas 3018]

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.

[Zoiakhan 85]

Hello  everyone .Here is some rules for best trading which r helpful for me.

1: created trading plan.

2: stick to your tragedy plan.

3: trade liquid instruments.

4: try not to trade before major news release.

5: manage your risk.

6: balance your analysis.

7: Always use a stop loss order.

[Crpto❤️ 55]

Yes you are right and I appreciate you for the work and the useful post you have make for the forum and the members of The forum. And after reading your post I have come to know that before this I really don't know anything about trading. But you are post will be proved good for me and many members of The forum who don't know about the trading. Thank you for the useful post.

[Whited35 15285]

On 1/27/2020 at 1:36 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.

I love this point from the list. So many traders just set the expected price mark and left their orders in the orderbook just by adjusting the price. While getting their orders to execute, they will end up by getting the less percentage of profits if market is following bullish uptrend. 

Edited February 7, 2021 by Whited35

[Ola22 197]

It is one of the best decisions until this moment, and I agree with you with all that you have mentioned, and I stress the need to focus and master one strategy at a time and waste your energies by switching from one to the other.

[Jam sidra 884]

Thank you so much mate yours tips useful and informative I do.use it and learn same experience and knowledge and earn some money usese by yours six tips its impressive tips good and I appreciate you for this useful information 

[Ahsan123456 13]

Hello I'm new user here so according to my knowledge It doesn't matter what you trade, it's how you trade that makes you successful or not! The 7 Day Challenge. Rule 1: Follow Your Written Trading Plan. Rule 2: Keep Learning On A Daily Basis. Rule 3: Don't Let Losses Compound. Rule 4: Never Set A Price Target. Rule 5: Successful Trading Is Part Of A Balanced Life.

[Bilalshujra 94]

Dear thanks to share with us good tips and information i understand totally information and understand it it is very useful for me and also for others members thanks again to share with us good information we will gain knowledge about trading because you share goods tips 

[Nonahassan 915]

I like to see everyone trying to help, but that the help is through the steps of the novice Berry, that this is how he has become a professional. This is a very exaggerated matter. We like to put references and methods for learning and understanding things more 

[yonkii 3205]

Fees are also important and when day trading it is something to consider and have in mind because they limit profits and create losses. I am trying to make some trades lately with limited success, however I don't think I like day trading and prefer to have a long term for my trading, like when I foresaw the market rise in September and went all in. I find trading to be something not of my taste, since the moment I put any trade I start losing money. This is not how it should be. You pay fees and the bots are sending you in the red in seconds.

[Bilal Ahmed 169]

These 6 tips are very helpful while taking intrest in trading so one must follow these 6 tips for good trading when I'm been able to trade so I'll must go with your tips thanks for share this information

[Ayinlek 42]

On 26/01/2020 at 8:51 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 .

 

.

Thanks for sharing this, I think following this would be helpful and might make the trading a successful one as nothing is 100%.

[afez420 20]

About rule 4. I think that it's better to take some profits when you have a great trade and let a percentage of your money ride it out. So you can save yourself from a complete blowout.

[Syriana 350]

I really thank you, my friend, for explaining these important and useful methods in the world of successful trading and I think that I will stick to them and work for them in order to get good profit and an excellent income through which I can continue my work in trading and investment