Top 10 Rules of Trading
.Do not overtrade
◦Trade within your means
◦Use 1/3 of your total margin only
2.Always use protective stops to limit losses
◦Go in with a plan
◦Don't trade impulsively
◦Have predetermined risk as well as profit
◦Don't move stops higher or lower and say "It'll come back."
3.Diversify your portfolio
◦Try to avoid "Loading up" in any one commodity or product
4.Keep emotions in tact
◦Don't make trading decisions based on "Fear and Greed", as hard as this may be
◦Make decisions away from the market - "Don't be a screen watcher"
◦Don't let ego get in the way
5.Trade in the direction of the immediate trend
◦Don't try to pick bottoms or tops
6.Don't add to losing positions - get out!
◦Don't Average "Down" or "Up"
7.Keep it simple, more complicated is not always better
◦Trade within your understanding of the markets
8.Employ approximately a 3:1 reward to risk ratio
◦Don't ever risk $2 to make $1
9.Always be a student and keep learning
10.Above all, be disciplined
Are u a representative of ICM capital? Even if u r, why r u copying the text from ICM capital website to this one? If you like something that u read on other websites, best way to share is by sharing with reference.
A good piece of advice but should be given a reference from where u copied, I agree with champ.
Btw how long have u been trading and how about ur trading results?
Stick to your rules
Thank you for the information,,, I am new here and I think this might help alot
you choose a system or methodology, test it to see if it works on a consistent basis and provides you with an edge. If your system is reliable more than 50% of the time, you will have an edge, even if it's a small one. If you backtest your system and discover that had you traded every time you were given a signal and your profits were more than your losses, chances are very good that you have a winning strategy