Man is so much that he wanted to learn more about himself and no other mistakes. In some mistrust, the experiences of others include the germ of progress, because once we try to exhibit something new, we can discover it. However, some of the advice has crystallized from the experiences of other traders, I think it is appropriate to offer the esteemed reader.
first Place the Stop Loss and the profitable orders directly after the opening position to reduce the effect of the psychological factors.
2 – The Stop Loss and Take Profit Order rates are at least 2/1 of the gain / loss ratio. Stop Loss can not be closer to 50 points from the entry point.
3rd Based on the previous paragraphs, we find that the Take Profit orders can not be closer to 100 points from the entry point. This minimizes the factor of the broker, that is to try to reduce your profits by slipping (shear quotation marks in close proximity). The slippage value becomes irrelevant for you and can trade with any intermediary.
4th If the Stop Loss 50 pips and Take Profit orders over 100 pips positions open an average of about two business days. If the price does not go in the direction you will go against it. Why wait for execution to stop? After two days close your positions if there is no Stop Loss, Take Profit or no. If at this point your position is profitable, you can only move the Stop Loss order level at the break balance.
5 – The lien shall not exceed 10%.
6 – Move the Stop Loss order only to reduce losses / increase profits. But this is not to be tolerated because there is a risk that a slight reversal will remove Stop Loss (too close to the current price) and the price does not have a Take Profit order.
7th Do not close the positions before performing Stop Loss or Take Profit orders (unless the position is more than two business days on the market).
8 – Do not open new positions at the loss.
9 – Before you start trading, sleep well.
Do not enter the market, tired, no matter how tempting the situation.
10 – Never trade for the last money. Otherwise, the rationale of error rates will surpass you, and your actions that make trade unbearable will be forced into false steps and ultimately lead to defeat.
eleventh "The market has no place, no stupidity or impulsiveness … The merchant always has to monitor the situation, even if you are often fortunate, should not be too arrogant
12 – Do not leave the emotions you want Emotions – the trader Worst Enemy
Stay cool and have a bad commercial season, it's better to have a short vacation, clear the head of my doubt, calm and cool, and collect the mental state of the market – the most influential factor in creating investment income
Source by sbobet