Basic Rules for Successful Trading

[NicholasMurphy]

The main one for me is - Do not over-trade.

 

[RainbowRain]

To succeed in Forex, you need iron discipline and a strong mentality to always act according to the rules of your trading plan and not give in to emotions.

 

[sakaida1125]

solid list of the basics mate. defo stuff we all need to remember. like the lads above said, discipline and keeping ur head straight is always the hardest part of sticking to a plan. keeping urself in check and not overtrading just cos u get an itch is the only way to actually survive in this game long term

 

[allhyipsru]

One rule I'd definitely add is not forcing trades when the market isn't giving clear opportunities. Sometimes doing nothing is the best trading decision. Chasing every move usually ends up costing more than it earns.

 

[caribbean]

Rule number four is the most important lesson for me. Never open a trade without setting a stop loss first. It protects your account when the market moves against you suddenly. Do not move your stop loss lower when you are losing.