What is the golden rule of trading?

[tradingstrategies]

The principal golden rule of trading is 'there is no alternate route to fast acquiring'. Financial backers ought to follow a cycle to arrive at their financial goals, which incorporate financial limitations and a methodology that assist with coordinating your goals with those imperatives.

 

[goodmoneygoodlife]

I think a good trading strategy is:
1. Finding a high-conviction stock you buy so that you don't paper hands it when it tanks. And you won't be greedy short-term and take profits when you know the growth potential.
2. HODL.

The most wealthy people mostly buy stuff or indices they believe in, completely forget about it, come back a decade later and they're filthy rich.

 

[Kingstone]

I guess you are talking about forex trading. Forex trading requires that you know the technical analysis and the fundamental analysis and see how to can apply them to your trading. There are still many things to bear in mind to keep your account safe. You do not risk too much because you are trying to acquire profits. You will lose your account in no time. Also, use a reasonable stop loss that is not too tight according to your funds. If not, you will suffer from losses as the market can cut it out and reverse, or when you set a high one, you lose all your money at once.

 

[iomaralmaged]

The right team and platform .

 

[eldavis]

This is what alot of persons today do not get, they assume there are so many shortcuts to success, hence they end up making mistakes in the long run. There is actually no short cuts, it's best you follow the normal process and get the experience needed to be successful.

 

[moonchild]

Ain't no golden rule in my opinion, these are just made up rules that people just make up, golden rule or no golden rule people make money in trading and most of the people making up these rule are not making profits at all, the reason why I'm harsh on this certain people is because they are misleading beginners, they make forex trading to look like on hell of a big deal, forex is not hard, it's easy, just buy at the right time and exit, but y'all make up rules that don't add up, I've been a victim of this when I was starting out, I was made to believe that I need to be a genuis before I can have a chance, but I tell you it's mostly lies, anybody can learn how to trade and be profitable, just put in the work, your life will never be the same.

There was a guy on YouTube that plastered his channels with this bogus rules but he himself don't follow them, this is a problem we should fight as forex traders, we shouldn't allow other people to dictate to us how we ought to trade or a golden rule we must follow.

 

[ns5393]

thanks , thats grat topic

 

[Sotherefore]

The principal golden rule of trading is 'there is no alternate route to fast acquiring'. Financial backers ought to follow a cycle to arrive at their financial goals, which incorporate financial limitations and a methodology that assist with coordinating your goals with those imperatives.

The principal golden rule of trading is 'there is no alternate route to fast acquiring'. Financial backers ought to follow a cycle to arrive at their financial goals, which incorporate financial limitations and a methodology that assist with coordinating your goals with those imperatives.

People who have never made any attempt to trade cryptocurrency won't really understand what cryptocurrency is all about. I have been in the crypto space for sometimes and I can confidently say that cryptocurrency will need a lot of time and absolute dedication before you are capable of succeeding as a crypto trader , There are lot of important rules an individual need to follow when trading cryptocurrency and one of the most important role is as follows

1) discipline: this is very important and every individual is expected to be discipline in their trading plan, because lack of discipline may lead to indecition which might also be the leading cause of most crypto Lost, if we are not discipline to stick to our reading plan then the possibility of succeeding as very little.
.
2) understanding: I'll always like to emphasize on this because without proper understanding of what you are doing you are not likely to be successful ,you should also be willing to learn it because learning is very important in the life of traders, without proper learning and understanding you may not be able to predict the market accurately... I have so much interest in cryptocurrency and I might go back to it in the future. It is the best and the surest way to invest money now.

 

[Chlamys]

The golden rule: “don’t risk more than you can afford to lose.”
Also, it’s never about winning, but managing risk.

 

[Nite]

Always the first golden rule of trading is that, "there's never a short cut to quick earning". To reach their financial goals, all Investors have to follow a process which includes a strategy that help match their goals with the financial constraints. Different investment strategies are kept by different age group of investors. The more young Investors may choose to invest in equities, and the individuals that are in their early 50 or 60 years may pursue with a mix of equity or debt investment.
Now comes the second rule of trading, that is "being disciplined". An investor must follow a disciplined approach if he wants to earn bigger profits. A disciplined trading will reward you with positive money flow and, keep you safe from volatility of the market.