5 Golden Rules of Trading

[mark004]

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

 

[barryb]

6. Liver for breakfast.

 

[shadowninja]

7. Don't call trading investing.

 

[bbmac]

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

 

[Black Swan]

6. Liver for breakfast.

"fava beans and nice chianti"?

 

[Technically Fundamental]

foule moudemmas

 

[Hoggums]

8. Everyone else is wrong. I have the holy grail - they just don't see it.

 

[TomTom]

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.

 

[demeanor]

and also have patience !! we need to do home work and some analysis as well....

 

[ruwatching]

Money Management is the key. Never invest more than you can afford to lose.