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Author Topic: Why you should follow rules!  (Read 4792 times)

Offline trader_john

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Why you should follow rules!
« on: April 27, 2011, 11:41:39 AM »
Forex exchange market is not trader friendly environment. There are many temptations: high profit potential, easy money, a lot of emotions. But there are so many threats in trading such as : dishonest broker behavior, unpredictable world disasters and terroristic attacks. To handle all this you need a shield. Shield made of your own rules, that will save your account. If you will not follow your own rules or strategy, you will blow up your account extremely fast. Rules Disregarding is one of the main reasons why only 5% of all traders are profitable.

Trade well
John

Offline trader_john

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Re: Why you should follow rules!
« Reply #1 on: April 28, 2011, 01:56:53 PM »
Nobody likes this thread and have opinion on this subject?

Offline donnaforex

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Re: Why you should follow rules!
« Reply #2 on: April 28, 2011, 06:21:45 PM »
Probably because a lot of people hanging around here right now are being a bit naughty and trading when we know we shouldn't, during the holiday period. And are a little embarrassed to come forth and admit we should stick to the rules of trading. Especially if you should know better (as i do, and i still trade- really not good!) :-X
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Offline Johno

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Re: Why you should follow rules!
« Reply #3 on: April 28, 2011, 06:40:00 PM »
ME: ....Its not me, the finger did it! ... Bad finger, Baaad finger!

Finger: ... The boss dont like me, i think i will just shoot myself!

Offline seawater

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Re: Why you should follow rules!
« Reply #4 on: August 18, 2013, 08:19:08 PM »
Trading plan is very important it is necessary that we must follow and stick to our trading plans so that we will be able to get the positive results from trading.

Offline Oddball81

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Re: Why you should follow rules!
« Reply #5 on: August 25, 2013, 03:12:12 PM »
Sticking to the rules is important but only if you have the right rules! And as you get more experienced you will know when the rules can be broken.

Offline knightrider

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Re: Why you should follow rules!
« Reply #6 on: August 26, 2013, 11:48:56 AM »
Actually more important for a trader is to understand what is going on? ---AND--- What is he going to do?

No mistake. If any mistake is done, have to find out the answer "Why the mistake?".

Offline inistol

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Re: Why you should follow rules!
« Reply #7 on: April 21, 2014, 05:40:07 PM »
ive followed rules......even they dont work    this is a complete waste of 3 yrs just another pile of shit to add to the rest

Offline DamBuster

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Re: Why you should follow rules!
« Reply #8 on: April 21, 2014, 05:47:10 PM »
ive followed rules......even they dont work    this is a complete waste of 3 yrs just another pile of shit to add to the rest

Just wondering if you have lost a lot of $$$ in Forex as you are posting the same type of sentiments above all over the forum?

Offline foodietr

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Re: Why you should follow rules!
« Reply #9 on: June 04, 2014, 06:49:37 AM »
I guess the main purpose of these stringent rules in the Forex is because of the uniformity of the level playing field. Such rules on import/export etc would be beneficial to the market in a way that the regulations are followed, leading to mass profits. Even in the case of loss, the impact can be regularised.

Just my two cents. But I think without rules, it may be easier to buy stocks, but at the end, it won't be uniform for everybody and opportunities are lost.

Offline kylekur2

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Re: Why you should follow rules!
« Reply #10 on: June 05, 2014, 02:37:34 AM »
Forex exchange market is not trader friendly environment. There are many temptations: high profit potential, easy money, a lot of emotions. But there are so many threats in trading such as : dishonest broker behavior, unpredictable world disasters and terroristic attacks. To handle all this you need a shield. Shield made of your own rules, that will save your account. If you will not follow your own rules or strategy, you will blow up your account extremely fast. Rules Disregarding is one of the main reasons why only 5% of all traders are profitable.

Trade well
John

I agree 100 % that people need to follow rules and don't let their emotions take control. That is a crazy statistic that only 5% of traders are profitable. I'm going to listen to John and follow my rules.

Offline nashvilleshelby

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Re: Why you should follow rules!
« Reply #11 on: June 05, 2014, 06:25:24 AM »
Forex exchange market is not trader friendly environment. There are many temptations: high profit potential, easy money, a lot of emotions. But there are so many threats in trading such as : dishonest broker behavior, unpredictable world disasters and terroristic attacks. To handle all this you need a shield. Shield made of your own rules, that will save your account. If you will not follow your own rules or strategy, you will blow up your account extremely fast. Rules Disregarding is one of the main reasons why only 5% of all traders are profitable.

Trade well
John

Whoa! Only 5% of them are profitable. That is terrible. I know that keeping a stable emotional position is very important.

Offline Kristofer

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Re: Why you should follow rules!
« Reply #12 on: November 24, 2015, 02:34:52 PM »
Because any rules are created  to avoid the hustle, chaos and  resulting problems. If you clearly know what to do, that's for sure increases the chances of success

Offline Profitable Trading

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Re: Why you should follow rules!
« Reply #13 on: November 24, 2015, 08:42:43 PM »
you only need rules when you find a profitable strategy and proper money management, which make monthly % Profit. Then, you write down everything you do on paper and follow them; WHy? Because when emotions are high (we are human), to avoid emotional decisions.

Offline vivid

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Re: Why you should follow rules!
« Reply #14 on: November 25, 2015, 07:24:58 AM »
Because following rules is very important in forex trading. If you won't follow rules, you won't be able to make consistent money from trading.

 

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