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Author Topic: 10 Rules For Successful Trading  (Read 29385 times)

moonuranus

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Re: 10 Rules For Successful Trading
« Reply #15 on: November 03, 2019, 05:42:05 PM »
Thank you for such an informative topic that you have given,
It is really helpful for starters since you provided fundamentals in our mentality to follow,
There are still a lot to learn in trading to be successful, what we mostly need is experience.

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Re: 10 Rules For Successful Trading
« Reply #15 on: November 03, 2019, 05:42:05 PM »


ICOrealityshow

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Re: 10 Rules For Successful Trading
« Reply #16 on: November 15, 2019, 01:45:32 PM »
No such rules for me!!
« Last Edit: November 16, 2019, 12:47:12 PM by ICOrealityshow »

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Re: 10 Rules For Successful Trading
« Reply #16 on: November 15, 2019, 01:45:32 PM »
:)

Cryptobee2018

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Re: 10 Rules For Successful Trading
« Reply #17 on: November 16, 2019, 12:50:30 PM »
I don’t get into 10-15 rules thing. I feel there are just simple requirements, and that’s to be patient, discipline and good with sticking to your methods. This is where I feel one could gain even without any major experience or knowledge. I am not an expert, so I prefer using alternative which is My Crypto Paradise, as it’s great for Crypto Trading with their lovely signals and various other features to help with trading. If you have such accurate and proven place, it just makes out the work easier for you.

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Re: 10 Rules For Successful Trading
« Reply #18 on: January 14, 2020, 09:28:55 AM »
I was checking BTC rates earlier and I was attracted to how BTC performs on chart today, all green. I don't know if I wanted to be a trader but who knows if God will allow.
Anyway, I got interested and see this post. Somehow it boosts my interest to know more about trading and it helped me to know the pros and cons if ever I really wanted to trader's path.

Gerard

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Re: 10 Rules For Successful Trading
« Reply #19 on: February 05, 2020, 09:17:15 PM »
Thank you very much for sharing this information. These are really good tips for beginners!

Master107

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Re: 10 Rules For Successful Trading
« Reply #20 on: December 06, 2020, 04:29:28 AM »
All of these needs time to understand.
Yeah, discipline is not just a word but a lifestyle.

Thanks for sharing these important message.
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mohdelayo

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Re: 10 Rules For Successful Trading
« Reply #21 on: December 09, 2020, 08:40:35 AM »
What a post! Quite interesting and educational!!
I enjoyed reading your tips, you made everything crisply for quick grasping. I love the idea of backtesting, where traders try to see patterns from historical data and try to make reasonable trading decision and plans based on that pattern.
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Re: 10 Rules For Successful Trading
« Reply #22 on: February 13, 2021, 03:17:33 AM »
Most people who are interested in learning how to become profitable traders need only spend a few minutes online before reading such phrases as "plan your trade; trade your plan" and "keep your losses to a minimum." For new traders, these tidbits of information can seem more like a distraction than any actionable advice. New traders often just want to know how to set up their charts so they can hurry up and make money.

To be successful in trading, however, one needs to understand the importance of and adhere to a set of rules that have guided all types of traders, with a variety of trading account sizes. Each rule alone is important, but when they work together the effects are strong. Trading with these rules can greatly increase the odds of succeeding in the markets.

Rule No.1: Always Use a Trading Plan
A trading plan is a written set of rules that specifies a trader's entry, exit and money management criteria. Using a trading plan allows traders to do this, although it is a time consuming endeavor.

With today's technology, it is easy to test a trading idea before risking real money. Backtesting, applying trading ideas to historical data, allows traders to determine if a trading plan is viable, and also shows the expectancy of the plan's logic. Once a plan has been developed and backtesting shows good results, the plan can be used in real trading. The key here is to stick to the plan. Taking trades outside of the trading plan, even if they turn out to be winners, is considered poor trading and destroys any expectancy the plan may have had. (Learn more about backtesting in Backtesting: Interpreting the Past.)

Rule No.4: Protect Your Trading Capital
Saving money to fund a trading account can take a long time and much effort. It can be even more difficult (or impossible) the next time around. It is important to note that protecting your trading capital is not synonymous with not having any losing trades. All traders have losing trades; that is part of business. Protecting capital entails not taking any unnecessary risks and doing everything you can to preserve your trading business. (See Risk Management Techniques For Active Traders for more.)

By: JEAN FOLGER
You have explained all these rules very carefully and I hope everyone has learned something from your article! Rule number 1 and 4 are the most important according to my experience, I've helped many people in making analyses for different coins but these are the biggest problems that I've noticed from most of them. They trade without any plan, and they do know to separate their profit and capital !!! This is very bad because we know trading is taking risks, so if they lose they will have nothing left to help them to recover. I'm glad you explained about this, I hope many traders have learned something!
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Ferki

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Re: 10 Rules For Successful Trading
« Reply #23 on: February 14, 2021, 11:38:17 AM »
I made it sticky, everyone should read it.

#reward
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Re: 10 Rules For Successful Trading
« Reply #24 on: February 16, 2021, 03:39:26 PM »
I made it sticky, everyone should read it.

#reward

glad to know that mate thanks for the appreciation

amzexpert

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Re: 10 Rules For Successful Trading
« Reply #25 on: November 09, 2021, 03:44:47 PM »
Thanks for providing the best trading rules. Now I will use your rules for trading and it will help me out to earn some good profit. I think that in Trading you must have been knowledge that what you are going to do. Or exactly in which coin you are trading. I think that the main thing is Patience.

 

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