First and Basic Rule of Trading

Firstly, if you make money by entering a trade that is out of your defined rules, you lost your self discipline, so there is really nothing to be happy about.

To be honest, i believe there is actually no secret formula to trading. It all depends on how discipline we are to implement the guidelines.

So, first and basic rule of trading: Discipline! In trading, we must Never allow greed and fear to rule your trading formulas!

Effective Money Management

Don't buy entire position at one time

Never lose more than what you can handle of your investment

Always keep a cash reserve

You need a good reason to buy or sell

Always set a profit target - Risk/Reward Ratio

Always set a Stop before entering a trade

Pyramiding only on the right direction

Always withdraw profit from your trading account and put it in the bank

3 Key Elements to Successful Trading

Same System but Different Results due to:

Winning Psychology (50%)

Effective Money Management (25%)

Trading Strategy Plan (25%)

Conquer Fear and Greed

No matter how great your software is, no matter how long you've been trading, no matter how much money you have, if you don't conquer fear and greed, you'll never be a consistently-profitable trader.

About Me

With 30 years trading experience and working in Fiancial Industry with Bloomberg and Reuters systems, and attended numerous trading courses from Dar Wong - APSRI PW Forex, Ray Barros - Trading Success, Kathy Lien - FX360, Don Schellenberg - NextView, CK Ee - Asia Charts, Kishore - PowerUp Capital, K2p, FT101, Diff, V3go, coupled with strong programming knowledge, I have developed no less than 10 systems on Nikkei, Hang Seng, Simsci, Kospi, Taiwan, S&P, Crude Oil and Foreign Exchange on GBP, Euro and Yen. Now I am ready to share some of the key ideas I gain in trading.