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Trading Rules

  • #21
  • Mar 26, 2018 12:23pm Mar 26, 2018 12:23pm
Quoting AlastorFate
List and share some of your favourite trading rules.
My first rule is do not take an impulsive decision. Open trade only if it fulfills your entry criteria. No trade out of impatience. I also keep journal to note down my all trading entry and exit. There should have been an explanation why I am taking the trade.
  • #22
  • Mar 28, 2018 9:57pm Mar 28, 2018 9:57pm
A. Rules are absolutely irrelevant and mean nothing if it cannot be translated into a action plan on how to trade them.
B. Rules are only good for 'after the fact' analysis used by forex gurus to teach and impress new traders.
C. Rules tell you to buy low and sell high and 95% end up wrong all the time.
D. Rules are always right when price can go either up or down.
  • #23
  • Mar 29, 2018 5:01am Mar 29, 2018 5:01am
Quoting genghistar
A. Rules are absolutely irrelevant and mean nothing if it cannot be translated into a action plan on how to trade them. B. Rules are only good for 'after the fact' analysis used by forex gurus to teach and impress new traders. C. Rules tell you to buy low and sell high and 95% end up wrong all the time. D. Rules are always right when price can go either up or down.
I sorta agree with you. That is why I never day trade now.

If a trader is using a losing system, strict rules and risk management can only slow down account destruction rate.

However without rules, a trader can't keep his rationality to trade market with a sane mind according to his trading plan/methodology.
'For the market to work, it needs people who think that they can beat it.'
  • #24
  • Mar 29, 2018 12:17pm Mar 29, 2018 12:17pm
Quoting genghistar
B. Rules are only good for 'after the fact' analysis used by forex gurus to teach and impress new traders.
//-----

you might be right.....h

//-----
Inserted Code
//-----
 

color qqeclr(string sym,int tfs)
      {
       color qqeclrs = White;
       
         if((iCustom(sym,tfs,"QQE",5,true,0,0) > iCustom(sym,tfs,"QQE",5,true,1,0)))    qqeclrs = Lime;
         if((iCustom(sym,tfs,"QQE",5,true,0,0) <= iCustom(sym,tfs,"QQE",5,true,1,0)))   qqeclrs = Magenta;
         
         if( (iCustom(sym,tfs,"QQE",5,true,0,1) > iCustom(sym,tfs,"QQE",5,true,1,1)) && (iCustom(sym,tfs,"QQE",5,true,0,2) < iCustom(sym,tfs,"QQE",5,true,1,2))) qqeclrs = Blue;
         if( (iCustom(sym,tfs,"QQE",5,true,0,1) < iCustom(sym,tfs,"QQE",5,true,1,1)) && (iCustom(sym,tfs,"QQE",5,true,0,2) > iCustom(sym,tfs,"QQE",5,true,1,2))) qqeclrs = Red;
 
         if( (iCustom(sym,tfs,"QQE",5,true,0,2) < 50) && (iCustom(sym,tfs,"QQE",5,true,0,1) > 50)) qqeclrs = Aqua;
         if( (iCustom(sym,tfs,"QQE",5,true,0,2) > 50) && (iCustom(sym,tfs,"QQE",5,true,0,1) < 50)) qqeclrs = Pink;
       return(qqeclrs);
       }
to trade and code, keep both simple... no call to impress....h
  • #25
  • Mar 29, 2018 1:38pm Mar 29, 2018 1:38pm
Remove risk as soon as possible
  • #26
  • Mar 29, 2018 4:52pm Mar 29, 2018 4:52pm
Quoting genghistar
A. Rules are absolutely irrelevant and mean nothing if it cannot be translated into a action plan on how to trade them.
B. Rules are only good for 'after the fact' analysis used by forex gurus to teach and impress new traders.
C. Rules tell you to buy low and sell high and 95% end up wrong all the time.
D. Rules are always right when price can go either up or down.
With this way of thinking you may as well place random trades and close them as soon as they get positive and that would be a better aproach?
  • #27
  • Mar 29, 2018 6:47pm Mar 29, 2018 6:47pm
Quoting havo
{quote} With this way of thinking you may as well place random trades and close them as soon as they get positive and that would be a better aproach?

Take any or all of the trades you have taken and have them plotted onto your terminal.

Change to a different time frame...

Be Honest!!

Now that you've viewed them through another set of optics - TIME - Would you have taken the same trade, entry/exit?

Do you guess bottoms and tops?
Do you trade directionally and for momentum?

Because honestly...on a grand scale, (almost)ALL TRADES ARE RANDOM!

This is due to the nature of the market, you're specific views, spread, latency...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #28
  • Mar 29, 2018 7:20pm Mar 29, 2018 7:20pm
Quoting Magix
{quote} Take any or all of the trades you have taken and have them plotted onto your terminal. Change to a different time frame...
I dont use Timeframes =)

Quoting Magix
{quote}Be Honest!! Now that you've viewed them through another set of optics - TIME - Would you have taken the same trade, entry/exit?
I am honest; i dont use timeframes lol.. i what i do works anywhere honestly, its not tied by instrument or specific conditions

Quoting Magix
{quote}Do you guess bottoms and tops? Do you trade directionally and for momentum? Because honestly...on a grand scale, (almost)ALL TRADES ARE RANDOM! This is due to the nature of the market, you're specific views, spread, latency...
I dont guess or cares wth its going on most of the time; i just wait for my triggers to show, enter a trade and thats it
  • #29
  • Mar 29, 2018 7:57pm Mar 29, 2018 7:57pm
Quoting havo
{quote} I dont use Timeframes =) {quote} I am honest; i dont use timeframes lol.. i what i do works anywhere honestly, its not tied by instrument or specific conditions {quote} I dont guess or cares wth its going on most of the time; i just wait for my triggers to show, enter a trade and thats it

So...like I said...RANDOM TRADES.

Thanks for coming out!

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #30
  • Mar 29, 2018 8:16pm Mar 29, 2018 8:16pm
The best advice/rule I can give is to treat trading as a business. Trading is not a game. Trading itself is easy, controlling yourself is not. Trading Forex, well trading any market really, is a catch 22. We always hear to trade without emotion in markets that are run by emotion. If you can find your balance, you might just make it.

- Ric
Be humble or get humbled
  • #31
  • Mar 29, 2018 8:32pm Mar 29, 2018 8:32pm
Quoting AlastorFate
List and share some of your favourite trading rules.
buy high
sell low
buy above highs
sell under lows

  • #32
  • Mar 30, 2018 5:36am Mar 30, 2018 5:36am
My trading rules:

nš 1: The morning coffee and smooth music.
nš 2: My glass of red wine on Fridays night.
POW!
  • #33
  • Mar 30, 2018 7:44am Mar 30, 2018 7:44am
Quoting Magix
{quote} So...like I said...RANDOM TRADES. Thanks for coming out!

You have no idea how i trade or what results i get...

BTW there are some traders from this forum that knows me outside here and they can attest what im talking about

Sorry if those concepts are too hard to understand for you =)
  • #34
  • Apr 1, 2018 8:53am Apr 1, 2018 8:53am
Quoting riclater211
The best advice/rule I can give is to treat trading as a business. Trading is not a game. Trading itself is easy, controlling yourself is not. Trading Forex, well trading any market really, is a catch 22. We always hear to trade without emotion in markets that are run by emotion. If you can find your balance, you might just make it. - Ric
Great thought!
Trade to trade well
  • #35
  • Apr 1, 2018 9:31am Apr 1, 2018 9:31am
Quoting Zillionaire
Buy low, and sell high.
#1, cause this is actually... possible!:-)
Maadik Hugiis. IQ 69.
  • #36
  • Apr 1, 2018 9:45am Apr 1, 2018 9:45am
1 & ONLY RULE for me. Never feel overconfidence in any trade. Forex have no mercy in silly mistake, it takes only 1 rule to be broken and tears will fall.
Self discipline It is a practice
  • #37
  • Apr 1, 2018 10:17am Apr 1, 2018 10:17am
1-never trade against to trend
2-determine to exit condition
  • #38
  • Apr 1, 2018 12:24pm Apr 1, 2018 12:24pm
1-Take a screenshot every time before you enter a trade.
2-Review the trade at the end of the day and compare it with your rules
3-If the trade doesn't match your rules, register immediately to a self-flagellation therapy in your area. The sooner, the better.

Attached Image (click to enlarge)
Click to Enlarge Name: Forex losers.jpg Size: 94 KB


Hope this helps.
Don't give up on your dreams. Keep sleeping.
  • #39
  • Apr 1, 2018 1:21pm Apr 1, 2018 1:21pm
Quoting Artcool
1-Take a screenshot every time before you enter a trade.
2-Review the trade at the end of the day and compare it with your rules
3-If the trade doesn't match your rules, register immediately to a self-flagellation therapy in your area. The sooner, the better. {image} Hope this helps.
This its a good practice (1 and 2); i did it a lot in the past (except the self-flagelation lol) and its a HUGE help in order to confirm that whatever the hell you are doing was correct or not, even when you think you are doing it right..
  • #40
  • Apr 2, 2018 8:21pm Apr 2, 2018 8:21pm
Quoting Artcool
1-Take a screenshot every time before you enter a trade. 2-Review the trade at the end of the day and compare it with your rules 3-If the trade doesn't match your rules, register immediately to a self-flagellation therapy in your area. The sooner, the better. {image} Hope this helps.
LOL.... So true.... LOL
Be humble or get humbled
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