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Forwarded from 💥NFP DHAMAKA💥
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How much is your Account Balance?
Anonymous Poll
55%
$1-$10
15%
$10-$30
7%
$30-$50
7%
$50-$100
16%
More than $100
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Top 10 Rules For Successful Trading👇👇
Rule 1: Always Use a Trading Plan
A trading plan is a written set of rules that specifies a trader's entry, exit and money management criteria for every trade.
Rule 2: Treat Trading Like a Business
To be successful, you must approach trading as a full- or part-time business, not as a hobby or a job.
Rule 3: Use Technology to Your Advantage
Trading is a competitive business. It's safe to assume that the person sitting on the other side of a trade is taking full advantage of all of the available technology.
Rule 4: Protect Your Trading Capital
Saving enough money to fund a trading account takes a great deal of time and effort. It can be even more difficult if you have to do it twice.
Rule 5: Become a Student of the Markets
Think of it as continuing education. Traders need to remain focused on learning more each day.
Rule 6: Risk Only What You Can Afford to Lose
Before you start using real cash, make sure that all of the money in that trading account is truly expendable. If it's not, the trader should keep saving until it is.
Rule 7: Develop a Methodology Based on Facts
Taking the time to develop a sound trading methodology is worth the effort.
Rule 8: Always Use a Stop Loss
A stop loss is a predetermined amount of risk that a trader is willing to accept with each trade. The stop loss can be a dollar amount or percentage, but either way, it limits the trader's exposure during a trade.
Rule 9: Know When to Stop Trading
There are two reasons to stop trading: an ineffective trading plan, and an ineffective trader.
Rule 10: Keep Trading in Perspective
Stay focused on the big picture when trading. A losing trade should not surprise us; It's a part of trading.
Rule 1: Always Use a Trading Plan
A trading plan is a written set of rules that specifies a trader's entry, exit and money management criteria for every trade.
Rule 2: Treat Trading Like a Business
To be successful, you must approach trading as a full- or part-time business, not as a hobby or a job.
Rule 3: Use Technology to Your Advantage
Trading is a competitive business. It's safe to assume that the person sitting on the other side of a trade is taking full advantage of all of the available technology.
Rule 4: Protect Your Trading Capital
Saving enough money to fund a trading account takes a great deal of time and effort. It can be even more difficult if you have to do it twice.
Rule 5: Become a Student of the Markets
Think of it as continuing education. Traders need to remain focused on learning more each day.
Rule 6: Risk Only What You Can Afford to Lose
Before you start using real cash, make sure that all of the money in that trading account is truly expendable. If it's not, the trader should keep saving until it is.
Rule 7: Develop a Methodology Based on Facts
Taking the time to develop a sound trading methodology is worth the effort.
Rule 8: Always Use a Stop Loss
A stop loss is a predetermined amount of risk that a trader is willing to accept with each trade. The stop loss can be a dollar amount or percentage, but either way, it limits the trader's exposure during a trade.
Rule 9: Know When to Stop Trading
There are two reasons to stop trading: an ineffective trading plan, and an ineffective trader.
Rule 10: Keep Trading in Perspective
Stay focused on the big picture when trading. A losing trade should not surprise us; It's a part of trading.
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Forwarded from 💥NFP DHAMAKA💥