20 trading rules
1. A bad trade or a string of bad trades doesn't mean anything.
2. Don't focus on the last deal: it has nothing to do with the next one.
3. Always follow the trading plan: in good and bad times.
4. Focus on one trading pair.
5. In this business, losses are inevitable: in order to succeed in trading, you need to learn to accept risks. Reducing risks will help eliminate anxiety and a source of stress.
6. You need to understand what kind of trader you are: which trading discipline is best for you. If you are slow to react to price movements, then short-term or swing trading may be better for you. If you are able to quickly respond to price movements, intraday trading is probably suitable for you.
7. Trading without a plan and without using a protective stop loss order, excessive use of a deposit - all this can bury you as a trader.
8. Never make anything absolute in trading - we work with probabilities. Every transaction must be considered in terms of probabilities. Nobody knows where the price will go. Give up perfection in trading. You can't be right all the time. If we have a sound trading model and the ability to manage risk, the outcome of a trade should not weigh so heavily on our psyche.
9. You need to leave your ego out of the market.
10. Lower time frames narrow the picture and create a misleading picture of the current state of the market, so you should focus on long-term charts even if you are a day trader.
11. Expectations should be down to earth: there is no need to set inflated goals, this can lead to rash decisions and unsuccessful transactions. If you cannot achieve an inflated goal within a week , then this may cause a deviation from the plan and force events.
12. Success in trading requires consistency, not large trading positions. Even with a small starting capital, you can achieve amazing results if you: follow the rules of risk management , act according to a trading plan, reinvest income (compound interest method).
13. Do not complicate the work process using different approaches and strategies. The simple system makes trading less stressful and more profitable. Any strategy will have losing trades, but when those losses are within acceptable expectations for your system, the law of averages will guide you through the drawdown periods and you will make money.
14. If the system does not show results in the long term, then it is worth looking for the reason. You need to find your weaknesses and bad habits.
15. Trading should not take up all your free time. Presence is only required at specific times, which are coordinated with the economic calendar . Relax and mind your own business. Avoid addiction to trading.
16. Excessive trading does not lead to anything good. Limit yourself only to those models that are specified in your trading strategy . Understand that the market will provide new opportunities and setups. Relax and remember to have realistic expectations.
17. You should not be in front of charts during periods when you are not feeling the best or are in a bad mood. This may result in a desire to take out your anger on the market. This approach is fatal for a trader. Take a break and rest.
18. It is necessary to keep a trading journal and record in it not only transactions, but also your experiences at the time of entering and exiting a transaction. Another reason to keep a trading journal is to try to stay organized and disciplined. Following a trading plan is much more difficult than it seems.
19. A professional trader should open a trading terminal like a 6th grade mechanic approaches the machine - calmly, without emotions, clearly knowing what he will be doing for the next few hours, when all actions are brought to automaticity.
20. Every professional speculator hides three psychotypes of personality: analyst, trader and gambler. A trader will be successful by ignoring the gambler and listening to the analyst.
Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch!
✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes.
---
• Look at my ideas about interesting altcoins in the related section down below ↓
• For more ideas please hit "Like" and "Follow"!
2. Don't focus on the last deal: it has nothing to do with the next one.
3. Always follow the trading plan: in good and bad times.
4. Focus on one trading pair.
5. In this business, losses are inevitable: in order to succeed in trading, you need to learn to accept risks. Reducing risks will help eliminate anxiety and a source of stress.
6. You need to understand what kind of trader you are: which trading discipline is best for you. If you are slow to react to price movements, then short-term or swing trading may be better for you. If you are able to quickly respond to price movements, intraday trading is probably suitable for you.
7. Trading without a plan and without using a protective stop loss order, excessive use of a deposit - all this can bury you as a trader.
8. Never make anything absolute in trading - we work with probabilities. Every transaction must be considered in terms of probabilities. Nobody knows where the price will go. Give up perfection in trading. You can't be right all the time. If we have a sound trading model and the ability to manage risk, the outcome of a trade should not weigh so heavily on our psyche.
9. You need to leave your ego out of the market.
10. Lower time frames narrow the picture and create a misleading picture of the current state of the market, so you should focus on long-term charts even if you are a day trader.
11. Expectations should be down to earth: there is no need to set inflated goals, this can lead to rash decisions and unsuccessful transactions. If you cannot achieve an inflated goal within a week , then this may cause a deviation from the plan and force events.
12. Success in trading requires consistency, not large trading positions. Even with a small starting capital, you can achieve amazing results if you: follow the rules of risk management , act according to a trading plan, reinvest income (compound interest method).
13. Do not complicate the work process using different approaches and strategies. The simple system makes trading less stressful and more profitable. Any strategy will have losing trades, but when those losses are within acceptable expectations for your system, the law of averages will guide you through the drawdown periods and you will make money.
14. If the system does not show results in the long term, then it is worth looking for the reason. You need to find your weaknesses and bad habits.
15. Trading should not take up all your free time. Presence is only required at specific times, which are coordinated with the economic calendar . Relax and mind your own business. Avoid addiction to trading.
16. Excessive trading does not lead to anything good. Limit yourself only to those models that are specified in your trading strategy . Understand that the market will provide new opportunities and setups. Relax and remember to have realistic expectations.
17. You should not be in front of charts during periods when you are not feeling the best or are in a bad mood. This may result in a desire to take out your anger on the market. This approach is fatal for a trader. Take a break and rest.
18. It is necessary to keep a trading journal and record in it not only transactions, but also your experiences at the time of entering and exiting a transaction. Another reason to keep a trading journal is to try to stay organized and disciplined. Following a trading plan is much more difficult than it seems.
19. A professional trader should open a trading terminal like a 6th grade mechanic approaches the machine - calmly, without emotions, clearly knowing what he will be doing for the next few hours, when all actions are brought to automaticity.
20. Every professional speculator hides three psychotypes of personality: analyst, trader and gambler. A trader will be successful by ignoring the gambler and listening to the analyst.
Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch!
✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes.
---
• Look at my ideas about interesting altcoins in the related section down below ↓
• For more ideas please hit "Like" and "Follow"!
🔥Indicators Set - t.me/crypto4light/2155
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💰Join in tg channel - t.me/crypto4light
🐦Follow on Twitter - twitter.com/vladi4light
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✅Youtube- youtube.com/crypto4light
💰Join in tg channel - t.me/crypto4light
🐦Follow on Twitter - twitter.com/vladi4light
📊Max Discounts lnk.bio/discount4light
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