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
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!
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