Those who follow me for a while know I'm not trying to pretend to be an expert and I just share my tools, views, and knowledge with my audience.
However, I would like to post a few words regarding risk management and some tips and rules I try to follow and apply the best way in my trades.
So take a cup of coffee and here we go
Some general rules for trading:
1. Trade only when you have time and you are in no hurry.
2. Trade only when you have a precise pattern for your method - do not rush to open a trade before the pattern has formed.
3. If you are tired, nervous, bored - do not trade.
4. Decide in advance after some losing trades you stop trading for that day - I think that after 3 trades that did not work out - it is better to stop trading until the next day.
5. You decide after some a daily profit you stop trading - if you set 100$ - and get them after 2 trades - stop for today and go do something else - do not lose in the evening the earnings from this morning.
6. Remember that you are a trade to make money and not to enjoy - trading is not a casino - if you want to enjoy Adrenalin - go gamble and do it with fun and smile – in trading, you will be serious and focused. If it's hard for you to follow the rules - you'd better work with a fully automatic robot or take a mentor to help you develop discipline in the trade.
Basic Rule: Don't FAP.
Contact me for further details.
Good Luck And Trade Safe