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Author Topic: Why you should follow rules!  (Read 4869 times)

Offline alex100

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Re: Why you should follow rules!
« Reply #30 on: December 22, 2015, 06:06:11 PM »
Quote from: iMusingKiMi link=msg=350646 date=1450772468

Discipline are very important aspects in trading but a lot of trader couldn't comply with it.

People couldn't comply with rule because of pressure and emotional stress that you get during trading. When unexperience trader entering trade he/she thinking about profit only and not about possible loss. And when trade goes against his/here expactations he/she refuse to accept the mistake and trying to prove that he is right and market is wrong. But the problem that market is ALWAYS RIGHT.
« Last Edit: December 22, 2015, 06:06:45 PM by alex100 »

Offline Markus

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Re: Why you should follow rules!
« Reply #31 on: December 23, 2015, 08:13:41 PM »
if we will follow  rules  we will not have any problems with broker

Offline equityfx

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Re: Why you should follow rules!
« Reply #32 on: December 23, 2015, 08:20:15 PM »
I think if you not follow rule make your own rules for trading that are easy to apply for you. After some experience a trader can understand which rules are important for his safety in trading.

Offline Rocky Ward

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Re: Why you should follow rules!
« Reply #33 on: December 24, 2015, 08:13:33 AM »
Devoid of using any kinds of tracing strategy we the traders have no way for making profit reliability. According to our trading capability we the traders select our trading strategy. In my career, I have started my trading with a little amount. So, due to small balance, I have to depend on short time trading policy scalping. Practically, this trading policy is considered as a most usable and profitable trading policy in Forex trading.  But, due to many restrictions, it cannot be used in a regulated trading broker. other than, I am very lucky to select MXTrade as my trading platform where at all times I am able to scalp at any major currencies with narrowest trading spread. 

Offline Profitable Trading

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Re: Why you should follow rules!
« Reply #34 on: December 24, 2015, 06:44:35 PM »
Discipline is very important in trading. You should know your boundaries. RIsks, strategy etc. If you have no rules when yo enter, exit, what strategy to use and when, you will get confused and stressed.

Offline resistance

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Re: Why you should follow rules!
« Reply #35 on: December 25, 2015, 01:10:35 AM »
Yes no doubt if discipline is very important for all trader, to obey rules trading system required discipline, to obey rules money management and risk management required discipline, good discipline it's also sign if trader have good psychology trading.

Offline indicator

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Re: Why you should follow rules!
« Reply #36 on: December 27, 2015, 06:21:51 AM »
Rules are good to follow, not only in forex trading but in any field of life if you will follow rules then your life will be easy. In forex its more necessary to stick to your rules as forex trading is more random and unpredictable.

Offline bruce_knee

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Re: Why you should follow rules!
« Reply #37 on: January 21, 2016, 01:14:41 PM »
Rules in trading are there to protect you- otherwise you will lose money quick, there are very common mistakes every newbie makes and you know them in advance you are one step ahead of the market

Offline resistance

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Re: Why you should follow rules!
« Reply #38 on: January 21, 2016, 01:44:41 PM »
Yes obey rules with discipline is good to making quality transaction in forex business, we can't solely relying with lucky in trading but we must trade with our system tradng which based on knowledge, and discipline is sign if trader already have good psychology trading.

Offline odysseus11

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Re: Why you should follow rules!
« Reply #39 on: January 21, 2016, 02:20:48 PM »
I think *guidelines* and *discipline* are vital, but so isnt flexibility. The forex market is liquid and fast moving, and sudden moves happen as a result of unforseen events. Smartest to have a plan and stick to it, but be ready to revise it at any time if the circumstances that caused you to MAKE that plan change!
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Offline iMusingKiMi

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Re: Why you should follow rules!
« Reply #40 on: January 22, 2016, 04:47:05 AM »
Quote from: odysseus11 link=msg=351560 date=1453386048

I think *guidelines* and *discipline* are vital, but so isnt flexibility. The forex market is liquid and fast moving, and sudden moves happen as a result of unforseen events. Smartest to have a plan and stick to it, but be ready to revise it at any time if the circumstances that caused you to MAKE that plan change!


Yeah, absolutely agree. They are just guidelines to follow. Just like pilot, they are fully technical-wise. But it didn't means that they cannot overwrite those machine when unforeseen weather occurs.

Offline diamond

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Re: Why you should follow rules!
« Reply #41 on: January 26, 2016, 05:42:18 PM »
Rules are made to be followed. If you don't follow any rules in forex trading, then you won't be able to make good money from it. As its a total free market where you have all the freedom to do what ever you can do, so following rules is very important.

Offline Forex Verified

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Re: Why you should follow rules!
« Reply #42 on: January 27, 2016, 05:20:16 PM »
Quote from: diamond link=msg=351705 date=1453830138

Rules are made to be followed. If you don't follow any rules in forex trading, then you won't be able to make good money from it. As its a total free market where you have all the freedom to do what ever you can do, so following rules is very important.


But sometimes you have to skew the rules to be profitable.
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Offline Forexrider

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Re: Why you should follow rules!
« Reply #43 on: January 28, 2016, 04:34:25 AM »
The Great Warren Buffet himself has only 2 golden rules

Rule 1 - Never lose money
Rule 2 - Never forget rule 1.

Offline Forex Verified

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Re: Why you should follow rules!
« Reply #44 on: January 28, 2016, 03:13:48 PM »
Quote from: Forexrider link=msg=351776 date=1453955665

The Great Warren Buffet himself has only 2 golden rules

Rule 1 - Never lose money
Rule 2 - Never forget rule 1.


Too bad it can't be applied in Forex :) There's not a single trader who hasn't lost money.
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