Seven golden rules for traders
Trade-commander.com has vital interest in ensuring that his clients to trade successfully. We want you surviving the markets and this is not easy. You face tremendous psychological challanges, like acting against your instinct, competing with highly sophisticated powerful trade bots of the big players, pulling the ripcord when the market is running against you and so on.
What we found in the internet for you, are the following trading rules which are more or less the conclusion of each experienced Trader:
- Don’t overtrade (not to many actions; Wait for market opening new chances)
- Don’t take too much risk (for instance: keep margin level above 1500 % -> Equity 15 times higher than margin)
- Don’t sell your winners too soon (consider trail stop)
- Don’t put your ego into your trading (means: accept what ever the market is doing. Just try to take profit from its moves/dynamic).
- Keep your own counsel. The answers are not on the news or on the financial press. (Don’t confuse yourself with information overhead).
- Find a good plan and stick with it. (A plan can be evaluated. So you have the chance to revise you tactics).
- Pick the most active hours for your trading. (Trading requires concentration. Don’t get tired (and frustrated) by boring markets)