Saturday, March 29, 2008

RULES FOR TRADERS.

Here are some of the general rules that you should not messing around with:

  • Never ever enter a position when you don't have any clear entry signal from your indicator system.
  • Be patient and never ever predict the next movement of the market without a proper analyzing system.
  • Don't be too greedy and stick to your trading plan (if you have one).
  • Make sure you have a good internet connection.
  • Double check your entry before you finalize it.
  • Stick with a system which you are familiar with.
  • Always lookup for any news related to the currency that you trade.

No matter what system that you are using currently, for me those are some of the important things you have to lookup before open trading position. Even not much and you think some of them are just crap, but believe me, those crappy things will determine either you are a wise trader or just another idiot trader alive.

I''l believe with this rules you can survive in forex and can save your money.

If you follow these rules,i'll believe you will be successful. Another things is be smart by go for the dollar than pips, trust me, bcoz you can make 100 to 300 of pips but it is still useless if the value per pips is only 10 cents.It's better smaller pips with big profit than hundred or thousand pips but small profit.



1 comment:

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