5 Golden Rules of Trading

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Old Oct 19, 2009, 9:25am   #1
Joined Oct 2009
5 Golden Rules of Trading

Dear Traders,

Here are the 5 Golden Rules of Trading. Which one is the most important in the success of the traders?

1. Invest in the direction of the Trend!
2. Cut Losses Quickly.
3. Let Profits Grow…
4. Diversify.
5. Manage Risk.

Regards
mark04
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Old Oct 19, 2009, 9:56am   #2
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6. Liver for breakfast.
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Old Oct 19, 2009, 10:37am   #3
 
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7. Don't call trading investing.
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Old Oct 19, 2009, 10:45am   #4
 
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It's different for everyone, dependant on the edge you trade and whethere it is fundamentally or technically based, for me, 2,3 and 5 ..probably.

G/L
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Old Oct 19, 2009, 10:58am   #5
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Quote:
Originally Posted by barryb View Post
6. Liver for breakfast.
"fava beans and nice chianti"?
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Old Oct 19, 2009, 11:06am   #6
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foule moudemmas
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Old Oct 19, 2009, 1:12pm   #7
 
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8. Everyone else is wrong. I have the holy grail - they just don't see it.
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Old Oct 19, 2009, 1:15pm   #8
Joined Oct 2007
My 5 rules for trading.

a) the highest price they are willing to pay (if they are going long) or the lowest price at which they are willing to sell (if they are going short)
b) their profit target where they will exit if they are "right"
c) their stop loss where they will exit if they are "wrong"
d) the risk/reward ratio of the trade
e) the exact percentage of their account they are risking

Others are if in dought stay out.
If not in profit after 10 mins close out.
Dont over trade.
Have a stratogy every day and stick to it.
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Old Oct 20, 2009, 6:50am   #9
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and also have patience !! we need to do home work and some analysis as well....
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Old Oct 21, 2009, 7:36am   #10
 
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Money Management is the key. Never invest more than you can afford to lose.
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