Rules of Successful trader

Most people combine them on some level, I believe.

When the fundamentals at a price in the market are very much affected, the price creates volatility. Trends change from market to volatile. An important strategy in fundamental trading that must be prioritized.

I find that trading on fundamentals is the hardest way of trading. It is time full of uncertainties whether the results will meet expectations or it will surprise market participants. Certainly a lot of experience and knowledge is needed to make the right trade during such volatile times.

he cannot be emotional, he trade with experience. he read the market carefully,he use proper analysis.

Traders need the combination of both analysis fundamental and technical to trade effectively.

Successful traders never trade without discipline and they have a proper plan behind their trading.

True. Personally I am curious whether there are any successful traders who do it without a plan.

trading success depends on money management , generally we think only good knowledge and experience can bring good profit but in spite of having good knowledge trading can be useless if there is no money management.

money management its all about to avoid unfortunate risk and losses ,
its a really great skill to survive successfully.

Trading with trend will give high probability of success.

Those who want to become rich quickly in Forex and do not want to learn Forex they generally part of losing party and do not make money with Forex. So everyone who wants to become successful then he must learn it to make it easy.

I agree. Being impatient and greedy is what leads to losses more often than not.

according to me , there is no successful rule will works until having make sure the real money management , so we the traders first of all have to make sure the real money management. otherwise money management can be useless.

good message you have done , by the way what you think there is any difference any between money and risk management ? its all about same issue ?

The difference between managing your money and managing risk really exists and in order to understand and know how to use it, you must first study.

Don't think there is any obvious difference between risk management and money management.

To me risk management is about pips
While money management is at the $$$

Best trading rule: Always take the profit.

Golden Rules [Taken from my private discord group. Link in profile]
- Accept that you will be wrong. Take the loss and learn from it.
- Accept that you will lose, even if you're right. Stick to your rules.
- Be disciplined. Keep to your rules. Keep emotions away.
- Capital preservation is important. Keep your risk consistent. If you risk 1% of your capital, then keep it constant. If you risk 3% of your capital, keep it constant too.
- If you're worried about how much you're going to lose, reduce your risk. You're risking too much now.
- No should've / could've / if only. I would have been a millionaire by now.
- Overtrading doesn't mean higher return.
- Risk management is important.
- React; Do not predict where the price will go. Let the market tell you where the price will go.
- Strategies based on luck is not consistent.
- There is always another setup. If you miss this one, wait for a re-entry or just close your charts. Do not enter at a bad price.
- Treat your results in terms of % and not monetary value. My $1,000 a trade risk could be 1% of my capital, but 10% of yours.
- You will miss a lot of winning trades. Be patient.

thanks for the share

The Key i believe is psychology. You need to have complete faith in the quality of your system/plan. So much that emotion will be little , you will simply be entering setups you have found to be more probable through back testing. With controlled risk management throughout as well as RISK:REWARD you will be profitable in the long term simply based on probability.

If you approach it this way its a lot easier and less stressful you are just carrying out instructions. If you end up being unprofitable over say a 6 Weeks then you switch back to simiulation whilst studying your Wins and losses. If you study them enough eventually you wil find some sort of similarity amongst them , whether it be structural , time of day etc. Once you find a re occuring confluence or market condition that seperates your wins from losses you implement that into your plan.

For example you might find 70% of your losses happened during asia. You will now trade sim with your previous plan with the additional rule you do not trade setups during asia. You have now increased the probabilty of your entries , you are now more profitable than before. This is a process you keep doing , even once you become profitable , the constant chipping away of bad confluences will slowly improve your system. You will always lose , there will never be a perfect system but you by no means need a perfect system to do well.