The most important rule in FX is? - page 2

CodeFx
59
CodeFx  
East West Star:
What is the one and most important rule in FOREX to make one successful.

The entire rules can be summarized thus: Never lose money/capital or alternatively reduce losses to the lowest minimum 

Lindo Velile
19
Lindo Velile  
dean perry #:
I think the first rule of Forex trading is to apply a good risk management strategy. You should only look to risk 1-3% of your account on each trade. This should include setting a stop loss and calculating your lot size carefully.

I risk 4%, should I feel guilty? :-)

Lindo Velile
19
Lindo Velile  

In business they say anything is profitable if you can bank roll it till it breaks even.

Same applies to Forex.

Same old ish just a different market :-)

LINE123
1640
LINE123  

Have a strategy that works, one that has been tested in a multitude of conditions. The strategy needs to be stress tested to find fatal flaws. 

Risk comes second since it is tailored around the strategy. You can control risk all you want but if you do not have a strategy that is sound, it is pointless. 

Seb King
22
Seb King  
Focus on what you stand to lose before what you stand to gain. Without your capital you are impotent.
JeeyCi
128
JeeyCi  

In addition to RM (e.g. ATR SL), MM, TM:

You cannot trade similarly flat & trend! Be able to distinguish them for the purpose to switch-on the appropriate TS.

Rate of Exchage reacts the last on economic falls - 0.5-2 years later then it occurs... (first reacts Treauries)... therefore do not wait quick reaction on the world analytics/news... (Know the driver of the market at the moment not to be misleading by the rumor!)

Do not trade low-liquid markets (but forex will never show you the real liquidity)

Know the Background

See Who is Rushing (B or S) 

Trade Imbalance at Levels

N.B. confirmation with volume (but forex will never show you the real volume)

Time-management is as well of importance as RM, MM, TM

... think like a Pro (& sometimes like a Market-Maker) -- it means that smart-money are being present in the both opposite sides of the trade!

Do not trade when there is nobody in the market. Join to the smart-money.

ATR Trailing Stop - Help
ATR Trailing Stop - Help
  • 2013.12.01
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Hi everyone: I have absolutely no coding experience in mq4 indicators, and am asking for help in creating an indicator...
Waseem Raza
10440
Waseem Raza  
East West Star:
What is the one and most important rule in FOREX to make one successful.
Only 1 rule   Use lowest  Margin/Leverage and you should understand what are you buying and selling , if you don't know why you buying means your nothing