Making your personal trading rules.

[riddick09]

We should definitely have our trading plans but rules can differ from traders and I don't think it will be like a must but to be a reminder for traders when they still have losing trades. It's very important to know our own weaknesses in trading and means that we create our own way of trading and the conditions or rules to manage our trading.

[gaban]

i think to create our own rules we need to read some guidelines and also some experience that shared by experienced traders, with that i think we can created our own rules, basically what we need to know is we don't have to be overconfident or greedy when we trade in forex.

 

That's right, a trader should always have a personal rule, and we should have to comply with trading rules that we already made. Discipline when apply it, so we will get the maximal result. Using rule, we can't be a greedy trader. It's harm for us.

[euro]

Yes, the rule of thump. I will always have them like use bonuses, low capital, low leverage, stop loss, take profit and money management and risk and loss management. I will also use a trusted, well known broker who do not scam people. I will also leave little money in a my broker's account. I will also trade on weekdays where there are better trends and on Asian trading market. I will also look for good trends and to keep up with news and trade only where there is opp to make profit. 

[screw_twizz]

Use a approach and day-to-day focus on, simply because most of us can't exchanging for a extended day time and find income. often you get excellent income after which it you keep exchanging after which it know your current income not really boost yet lessen. thus better to get a focus on.

[Decub]

Planning is just about important and it is one thing the trader needs in Forex. If we fail to plan, we only plan to fail and for a trader to be the best of what he wants to be, planning must come into play. Making our own trading rules is just the best way to overcome some trading hurdles like over trading and knowing when to exit.

[mcliffi]

A forex plan is the vital componet in trading and its the real thing.With a plan in plan,then you can follow all your rules.a good plan,must have strategic rules that will help you make good trading targets.A good plan will also bring you under profitability.All rules have got to be personal as this is the only way you will maximise your earnings and avoid losses.

[myregister]

My personal trading rules is never spend more than 5% for one position. This is same like risking my position that could make me loss more money, i also see that is not effective and efficient to spend more than 5% of my total equity.

[rizwanramzan]

Yes having a plan for trading in forex market can be very helpful for traders. Hence I always recommend every newbie trader to have a plan to follow and get success. The traders must make a plan about their investment and the amount of profit they must earn in a day. So that they could avoid huge losses in this market.

[myregister]

Well everyone for sure has their own personal trading rules, as for me i must trade in a news that has high impact news at 3 sites that i am using as reference, after that never spend more than 5%(while i usually trade around 3-5 percentage from my total capital).

[pepy]

It needs self discipline, i know this is not easy but possible to do. I do recommend you still do it in demo account for lowering the risk of trial and error. This is more like long term strategy, so if your strategy does not work around 3-4 months then change with the most feasible one.

[myregister]

Yes, i absolutely agree with that, making personal trading rules need an effective self discipline. It is not easy to be like that and keep those thing under of our own monitor. I also have few personal rules but still going well to me until now, aside from that a preservance is a must.

[pepy]

True, this is not easy so hard if you ask me, but guess what? The result for this personal trading rules will help you a lot. The result is self discipline, with self-discipline you trading become more strict lowering your chance of lose and makes you trade effectively.

[myregister]

True, it is pretty useful for trader, something like never be greedy or spend as much as ...% of your bucks(the blank spot is up to yours). Well that kind of rules are not hard but the hard part is actually realization of that rules. Can you consistently only following those rules or bent yourselves to change it?.

[pepy]

@myregister: Risk management playing plays a very important role here, personal trading rules can help to discipline yourself and as you say realization than these rules are quite hard to do Because not all traders are able to do that they apply their own rules usually due to lack the knowledge of their own ability.

[myregister]

To avoid becoming frustrated in the forex market because things are not going your way, every trader must make a rule that if will obey, to make sure that they are in control of their trade.

Some people must have their own rules. I myself don't want to risk for more than 5% of my total capital. 4% is my current number but that is a bit lower since i have quite small capital too. Rules are important especially self made rules which help you to sustain your trading.

[pepy]

It seems our rules is a bit same i also don't want to spend 5% more than that but usually my risk ratio at 3-4% not even reached 5%. I also wondering that people who put 10% of their capital in the line? Is this some kind of joke that people do that? This rules could be followed, but if you want to add then that is good too, in the end making our personal trading rules is a must, and to keep following it.

[myregister]

Always follow and it is better if someone have their own personal trading rules because of its great contribution but remember you don't just follow it but able to change it, i mean if you follow your rules strictly but something wrong happened, not just once but more than twice you should change the rules and stick with the new strategy/rules.

[Gee Dee]

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[Fausi]

For me, the most important rule is to focus on trading

[Monaya]

To summarize, we can say that everything needs to be done slowly.

[Vaabum]

This is really necessary for a trader. It is worth noting that discipline in this version of earnings plays not the last role, and it is worth making the rules purely for yourself.

[Vaabum]

There are now a really large number of options for working from home. I now prefer the ExpertOption broker. This option seemed to me the most reliable and profitable to work with. Besides, learning to work with it is not so difficult.

[Thorgagar]

I adhere to the rules that I recommend.

[boltushkin]

I trade only with my rules because trading with some other rules is basically blind following. You didn't work on these rules from a  scratch to understand how you can modify them in case something goes wrong. The biggest asset in any trading system is that you are a creator (author) of it. I trade only with my personal systems at Hotforex. 

[Vaabum]

It is very important for the trader to highlight certain personal rules that he would conform to for work. It will make the job much easier.