5 Golden Rules of Trading

Oct 13, 2009
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#1
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
 

bbmac

Well-known member
Jan 15, 2003
3,584
785
123
#4
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
 

TomTom

Active member
Oct 12, 2007
652
36
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#8
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.
 
Oct 13, 2009
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#10
Money Management is the key. Never invest more than you can afford to lose.