Goonslinger wrote:aliassmith wrote:Rules to trade by:
Practice and reflect (stick with 1 method and "pair" at first)
Use a SL size that gives you a chance of being successful. (big enough)
Use a SL size that doesn't let you hang yourself. (too big)
Take trades that appear to have enough room to run more than 1.5R or better. (anything under 1R can be difficult)
Plan your entries and let price come to you. (it makes being profitable easier)
Use your leverage/margin reasonably. (risking more doesn't make you better or makeup for bad decisions)
Follow the market don't demand it to do what you expect.
Don't marry a trade...see SL sizing above.
When you are doing things well you will still be wrong and that is counter intuitive to the business world/education. (train the mind to accept it.)
RE: plan your entries - does this mean entering with limit orders or looking at PA at a price you're interested in entering at?
It means if you plan on entering at 1.00090 then enter there. Once you start missing your entries, you deviate from expected RR
