Trade77; Trading Rules 7pm


Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.

I was watching my trading rules and I want to share them with you in an article and I hope they will be useful for you.
These are my general rules:
1)Trade at least 20 positions a day; You are going to make a million in a day!
2)Do not use stop losses
3)Try to use economic news releases as trend indicators
4)Do not close any trades in loss, add to your losing positions until market come back and get out at break even or profits
5)Only try to catch market tops and bottoms and do not trade in the middle of a trend
6)Try to use the law of gravity in the forex market; Price can’t go up 200pips a day
7)When there is a strong bullish candle think about going short
8)Trading just before the news would be great and will make hundreds of pips in couple of seconds
9)Follow other traders and trade their signals

STOP!

90% of traders are losers and their rules are the same as what I wrote above! Stop doing these faults now!
1)Do not over trade!
2)Without stop loss do not trade!
3)Fundamentals are not only economic news releases; Try to find market sentiment.
4)Trade what you see not what you expect!
5)Do not try to catch market tops and bottoms; You can jump in the middle of a strong trend.
6)Do not follow anyone blindly; See their analysis and at last do what you see.
7)Separate your scalp and swing positions.
8)Do not trade before important news releases.
9)The law of gravity doesn’t work in the forex market!
10)Do not add to your losing positions!
11)Do not forget about money management rules.

Do them now and try to set some rules and add them to your trading arsenal. Try to be profitable at the end of the day; 1 pip is a profit as well!

Make sure that you are following me on twitter so you can be informed of any trade calls for this pair and if you found this post useful let your followers to read it too, so please retweet this article with the button above of the article.
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Regards

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  • Yes I agree Jakob, thanks for stopping by.

  • Anonymous

    Thank you for your comment. Yes, These rules are very important in order to reach the success in this logical market.

  • Anonymous

    Thank you very much for reading this article and commenting as well. I do appreciate it.

  • Good clear and simple basic rules. I like the way how the wrong “rules” were shared!

  • Anonymous

    These rules should be on “post it” all over the scree, for every trader out there!

  • Anonymous

    Gerardo, the average monthly pips is between 70-85 pips.
    Thanks for your comment.

  • I agree Mani…I am testing your scalping method. How much average pips (monthly) did you get from it??
    Tanks again!!!

  • Anonymous

    Yes, high leverage is one the greatest scams and traders think this is a great tool! Thanks for mentioning that.

  • Anonymous

    Thanks Lionell, I appreciate your comments. Glad you liked it.

  • Anonymous

    That’s great. If you stick with your rules you will reach success.

  • Greg

    I have printed those rules 🙂

  • Anonymous

    That’s true Daryl, another problem of overtrading is what you wrote. Thanks for your comments and reading the article as well.

  • Lionell Dixon

    Thanks Mani. Great stuff! As always, I very much appreciate at it.

  • Pericles1987

    When I began reading your rules, I was just so surprised and ask myself what is she talking about? The first ones are those things I just don´t do anymore because it wont function. I learned it the hard way. I had a little relief when you just wrote the second ones, beacuse that are who I use, and still Fx it´s difficult and requires a los of discipline and fast thinking.

  • Dkoster77

    Another rule of mine is to not pay my broker too much commission/spread by overtrading. They make enough for the 90% of the people who blow their accounts. Also only take fewer high probability trades. Thank you for your articles. They are insightful and always keep me thinking. Daryl

  • Anonymous

    Yohay, really thank you for your comment and reading my article as well. I do appreciate it.

  • Yohay

    This is indeed a great straightforward summary of the basic rules that many tend to forget.