Rule 1. Use a proven decision trading system.
A system and a method are not the same thing. A system should be mechanical in nature. It should have a specific set of rules that anyone should be able to follow and get the same results as others who are following them. It is objective.
Whereas a method is an approach that takes in other factors that are difficult if not impossible to define. Like what a person’s gut feeling is or how they feel the market is moving or how strong a trend looks. You could say this is subjective.
This is what a good decision system should look like.
Rule 2. Stick to the rules.
Having a proven system and not following the rules is like putting the wrong information into your cars GPS and expecting it to guide you to your destination.
If a system is proven to work, do what it says to do every step of the way. I see this all the time. Someone buys a system, and a week later they are looking for another system. They say the system they bought doesn’t work. What is really happening is that the person just can’t follow the rules.
A system like this one should be the ONLY system you EVER need to buy.
Rule 3. Don’t second guess yourself.
Even when a system which you trust to make you money tells you exactly what you should do, you might second guess that. We let fear and greed cloud our judgment. Don’t. If all the indicators say pull the trigger now… Pull it.
That’s never a problem when you have confirmations like this.
Rule 4. Don’t over-leverage.
One of the things that makes trading Forex so appealing is that you can get much higher leverage than you can with other investments like stocks.
Who wouldn’t want to trade $10,000 with just $500 in actual money right?
It is not at all unusual for traders to trade at a leverage as high as 100:1
Just remember not to risk more than 3% of your trading capital on any given trade. 2% is what you should strive for.
This is how you SAFELY grow an account fast.
Rule 5. Test.
Back test, forward test and trade any new system in a demo account before trading it live. Some systems are very hard to test, but everyone should at least pick a time frame, go back as far as they can, walk through each bar, and apply the system rules.
All the testing has already been done on this system and the results are in, it’s making people a fortune.
Rule 6. Invest in a solid trading education.
Knowledge is power, and expert-level knowledge is a superpower. Make certain you are listening to real traders who have been where you are at. Who will share their expertise with you and have made all the mistakes and learned from them, so you don’t have to.
This is the best trading education money can buy yet I will show you how to get it for free today.
Rule 7. Don’t ever revenge trade or trade when you are not at 100%.
Trading can be highly emotional. Yet emotions are what gets you into trouble when you trade. Fear and greed are tough to manage in the best of situations. Don’t ever trade to try to win back losses or trade when you just aren’t feeling mentally or physically at your best. Having a system that you understand and trust in is key. That way you won’t let your emotions take over.
- If you want to try a system that makes it easy to do everything right on every trade, you should look at this one.
- I think the reason so many people are having such great success with it is that it is idiot proof (not that you are an idiot, but I remember making some pretty idiot level mistakes in my time).
- This makes it almost impossible to make these mistakes.
- Not only is it an extremely easy to understand and simple to trade system…
It’s also making people money hand over fist…
- Traders who have struggled for years are immediately making money. Lots of money.Hear the rest of the story here.
- These were just a few of the very basic trading rules that everyone should know. Yet I see people breaking them every day.
- They are the same people who will lose money and eventually give up.
- Don’t ever stop learning and remember that it’s doing the basics really well that wins every time.