I know a lot of successful traders tend to stick to a set of rules for their portfolio to make sure emotion doesn't play a part in their long term returns. Just out of curiosity, what are your rules and what are your approximate returns to date (%) following those rules?
Patricia12
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I follow very simple rules. I wait for big news hit to market and then enter in market.
>>>>>>> Just out of curiosity, what are your approximate returns to date (%) following those rules? <<<<<<<<
This I gotta see. I'm waiting on the edge of my seat to see WHO shows up. So far one came in and skirted the issue totally. This is akin to asking all the criminals to show up, fess up and they will be given US citizenship.
hatemypips
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Rule that is my routine: do regular evaluations on my forex trading activity, record the development and advancement of trading each month, taking lessons from own experiences and advice of professional traders.
"Do not ever take a risk that you are not able to bear it"
"Do not ever take a risk that you are not able to bear it"
victoriajensen
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I don't know whether I'd call them rules, but I certainly try to do the following:
1. Learn from my mistakes.
2. Always be on guard.
3. Don't trade when you're tired or trade for the sake of trading.
1. Learn from my mistakes.
2. Always be on guard.
3. Don't trade when you're tired or trade for the sake of trading.
Michelle graystone
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For me:
1. Never trade large amount of money (my maximum is 150) It's doesn't matter if I don't win big for now as I'm ''new'' to trading.
2. Never trade only to trade! I'll wait for the right opportunity.
3. Always be aware of the market before trading. (If I've been away for some time, I'll take the time to catch up on everything I eventually missed.
4. Most importantly, know your broker before signing up for a trading account!
There's a lot of useful posts about scam brokers or how to choose the right one. They really helped me and a friend so they might help you if you are searching for a reliable binary options broker.
1. Never trade large amount of money (my maximum is 150) It's doesn't matter if I don't win big for now as I'm ''new'' to trading.
2. Never trade only to trade! I'll wait for the right opportunity.
3. Always be aware of the market before trading. (If I've been away for some time, I'll take the time to catch up on everything I eventually missed.
4. Most importantly, know your broker before signing up for a trading account!
There's a lot of useful posts about scam brokers or how to choose the right one. They really helped me and a friend so they might help you if you are searching for a reliable binary options broker.
I only take 1-2-3 setups or consolidation breakouts in areas that's shown S&R over the past 2-3 days.
If I reach my daily profit goal early on, I will continue to trade until I have a losing trade, then I call it a day. I only look at range charts. It's hard to get in on tops and bottoms on time frame charts, and it's very noisy. You can easily spot S&R and patterns on range charts.
I always trade with the trend. I only look buy/short against (reversals) on high or low of the day.
I don't use indicators on my main charts, as they tend to distract me from price action and S&R. I keep a chart with Bollinger Bands and RSI hidden until I find something interesting in a S&R zone.
I don't try to speculate or analyze. I let the data and confirmations come to me, instead of predicting them. Ignorance is bliss in trading. The more you try to think about things and "think you know" the more you lose. Don't outsmart your common sense.
These are just off the top of my head. Most of my rules are just general common sense I've learned from experience. I don't keep a list.
If I reach my daily profit goal early on, I will continue to trade until I have a losing trade, then I call it a day. I only look at range charts. It's hard to get in on tops and bottoms on time frame charts, and it's very noisy. You can easily spot S&R and patterns on range charts.
I always trade with the trend. I only look buy/short against (reversals) on high or low of the day.
I don't use indicators on my main charts, as they tend to distract me from price action and S&R. I keep a chart with Bollinger Bands and RSI hidden until I find something interesting in a S&R zone.
I don't try to speculate or analyze. I let the data and confirmations come to me, instead of predicting them. Ignorance is bliss in trading. The more you try to think about things and "think you know" the more you lose. Don't outsmart your common sense.
These are just off the top of my head. Most of my rules are just general common sense I've learned from experience. I don't keep a list.
