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Author Topic: Why you should follow rules!  (Read 4870 times)

Offline Rahim Miya

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Re: Why you should follow rules!
« Reply #15 on: November 26, 2015, 11:07:28 AM »
Because, discipline is very important quality for being a professional Forex trader. Personally, I know some professional Forex trader and really surprised to see their approach when they are trading. Because, they respect their previous trading plan point to point.

And, never break it. On the other hand, greedy Forex traders dont care any trading plan, I see always they follow their instant decisions. But, I found best trading knowledge through using beginners training course of TradingBanks. Thats way, I can handle my live account like a pro trader.

Offline hybrid

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Re: Why you should follow rules!
« Reply #16 on: November 27, 2015, 06:52:25 AM »
It is not necessary that you follow any written rules of forex. A good plan should be in your mind touse your amount .How much you will make profit or loss in every trade. This thing saves you from emotional trading.Following rules make you a disciplined trader .

Offline equityfx

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Re: Why you should follow rules!
« Reply #17 on: November 27, 2015, 06:55:56 AM »
Quote from: Rahim Miya link=msg=349873 date=1448536048

Because, discipline is very important quality for being a professional Forex trader. Personally, I know some professional Forex trader and really surprised to see their approach when they are trading. Because, they respect their previous trading plan point to point.

And, never break it. On the other hand, greedy Forex traders dont care any trading plan, I see always they follow their instant decisions. But, I found best trading knowledge through using beginners training course of TradingBanks. Thats way, I can handle my live account like a pro trader.
Discipline is very important bro, so you have to fight constantly. Do not let you fall asleep with poor conditions. So you should be able to fix the strategy from time to time.

Offline indicator

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Re: Why you should follow rules!
« Reply #18 on: December 07, 2015, 05:49:38 AM »
Quote from: hybrid link=msg=349893 date=1448607145

It is not necessary that you follow any written rules of forex. A good plan should be in your mind touse your amount .How much you will make profit or loss in every trade. This thing saves you from emotional trading.Following rules make you a disciplined trader .


A written trading plan is necessary. If you don't know what exactly you are looking for while you are analyzing the market then you can't make any good trades.

Offline Forex Verified

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Re: Why you should follow rules!
« Reply #19 on: December 08, 2015, 04:37:03 PM »
There are only two rules:

1.Always use stop loss and
2.Don't overleverage your positions.

Everything else can be "tweaked".
If it's not verified, don't buy it - www.forexverified.com

Offline Profitable Trading

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Re: Why you should follow rules!
« Reply #20 on: December 08, 2015, 08:52:20 PM »
If you dont have set of rules, you simply do not know what works and what not. as you mixing different strategies and principles

Offline hybrid

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Re: Why you should follow rules!
« Reply #21 on: December 09, 2015, 03:34:00 PM »
Yes it is good idea to make your own rules or mix different rules which you like in different strategies , they will really result oriented rules because you had test them before. work on rules is important they make you disciplined and planned trader . You not work haphazardly .Most important they saves you from emotional trading.
« Last Edit: December 09, 2015, 03:34:53 PM by hybrid »

Offline iMusingKiMi

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Re: Why you should follow rules!
« Reply #22 on: December 10, 2015, 12:52:44 AM »
Human born to break rules, not to follow rules. Following a set of rules could avoid a lot of emotion. If you are in China here, you can notice how often they break the rules, even with their own safety such as crossing over a highway or keep looking at their cellphone while walking. Consequence outcome with those accident that can be easily avoidable.

Offline indicator

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Re: Why you should follow rules!
« Reply #23 on: December 10, 2015, 06:58:41 AM »
Because if you won't follow any rules market will chew you and spit you out every time. Rules are necessary if you want consistent and long term good trading result.

Offline SteveCot

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Re: Why you should follow rules!
« Reply #24 on: December 10, 2015, 10:28:07 AM »
Quote from: indicator link=msg=350264 date=1449730721

Because if you won't follow any rules market will chew you and spit you out every time. Rules are necessary if you want consistent and long term good trading result.

What kind of rules you are talking about?
If you have any forex related offers for me - I`m open minded to hear about them

Offline indicator

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Re: Why you should follow rules!
« Reply #25 on: December 17, 2015, 05:03:16 AM »
Quote from: SteveCot link=msg=350274 date=1449743287

Quote from: indicator link=msg=350264 date=1449730721

Because if you won't follow any rules market will chew you and spit you out every time. Rules are necessary if you want consistent and long term good trading result.

What kind of rules you are talking about?


Like
I will only trade on daily time frame and not on lower time frames.

I will only enter any buy/sell position when I see my trading edge.

I will only risk xx amount of USD on my one open position

I will only open a maximum of 3 or 4 or 5 positions depending on my capital....etc.

Offline bruce_knee

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Re: Why you should follow rules!
« Reply #26 on: December 18, 2015, 07:49:33 PM »
Quote from: indicator link=msg=350476 date=1450328596

Quote from: SteveCot link=msg=350274 date=1449743287

Quote from: indicator link=msg=350264 date=1449730721

Because if you won't follow any rules market will chew you and spit you out every time. Rules are necessary if you want consistent and long term good trading result.

What kind of rules you are talking about?


Like
I will only trade on daily time frame and not on lower time frames.

I will only enter any buy/sell position when I see my trading edge.

I will only risk xx amount of USD on my one open position

I will only open a maximum of 3 or 4 or 5 positions depending on my capital....etc.


Yes these are important rules- accept on the daily time frame because strategies work well on smaller time frames too, but I find money management essetial to survive- like never risk more than 5% of your account on each trade, even 3%

Offline dreamfx

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Re: Why you should follow rules!
« Reply #27 on: December 20, 2015, 07:42:46 PM »
In trading it is very important that it should be done with full discipline and follow your risk management rules otherwise Forex market is highly risky and we can lost all our investment.

Offline diamond

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Re: Why you should follow rules!
« Reply #28 on: December 21, 2015, 04:31:06 PM »
As we all knows that forex is risky and tough business and market is not trader friendly environment, therefore we should follow the rules in order to avoid bigger losses.

Offline iMusingKiMi

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Re: Why you should follow rules!
« Reply #29 on: December 22, 2015, 08:21:08 AM »
Discipline are very important aspects in trading but a lot of trader couldn't comply with it.