Forex Trading Proverbs

[FXGenius]

Hi,

Lets put all wise and sagacious quotations/proverbs of forex trading in this thread. Remember this thread is for proverbs only to help beginners learn from other traders' experiences.

Proverbs should be short, concise and educational, thanks.

Here are my 3 cents:


1. Never add to a loosing trade (means do not let market go against you to an unsustainable limit, better take a small loss and reverse your direction).

2. Don't throw yourself on the mercy of the market, use proper money management.

3. Never trade Forex with the money you can't afford to loose.

4. Recipe for success in FX trading: Sound entry/exit strategy, money management and emotional control.

5. Big money attracts big returns, risk is a catalyst.

6. One of the secrets of successful forex trading is to have bigger winning trades than loosing ones.

7. Making TA work consistently involves not trying to read on charts what you want to see.

8. Technicals reflect not only the fundamentals but also the emotions of the crowd.

9. Don't sell on a bullish day and don't buy on a bearish day.

10. In a bullish market buy on dips and in a bearish market sell on rallies.

[happytree]

Originally Posted by FXGenius

Hi,

Lets put all wise and sagacious quotations/proverbs of forex trading in this thread. Remember this thread is for proverbs only to help beginners learn from other traders' experiences.

Proverbs should be short, concise and educational, thanks.

Here are my 3 cents:


1. Never add to a loosing trade (means do not let market go against you to an unsustainable limit, better take a small loss and reverse your direction).

2. Don't throw yourself on the mercy of the market, use proper money management.

3. Never trade Forex with the money you can't afford to loose.

4. Recipe for success in FX trading: Sound entry/exit strategy, money management and emotional control.

5. Big money attracts big returns, risk is a catalyst.

6. One of the secrets of successful forex trading is to have bigger winning trades than loosing ones.

7. Making TA work consistently involves not trying to read on charts what you want to see.

8. Technicals reflect not only the fundamentals but also the emotions of the crowd.

9. Don't sell on a bullish day and don't buy on a bearish day.

10. In a bullish market buy on dips and in a bearish market sell on rallies.

Well that was helpful, not. Of the 10, maybe 3 are keys to sucess. The rest of them are BS that the brokers and market makers want the new trader to believe.

[FXGenius]

No self evaluating BS please, only post proverbs on this thread, without any bias, prejudice and self analysis, if you can't please stay away from this thread, thanks.

[Truville]

Lose- To fail to win.

Loose- Not taut, fixed, or rigid.



PS: happytree is correct. They are BS.

[FXGenius]

Originally Posted by Truville

Lose- To fail to win.

Loose- Not taut, fixed, or rigid.



PS: happytree is correct. They are BS.

Once again, here in this thread, I am not asking for anyone's analysis on any proverb, that will take the thread to controversy and clash of opinion. Just keep posting nice and effective proverbs stay away from self analysis and evaluation, those are not welcomed, thanks.

[FXGenius]

Plan your trades and trade your plan

[FXGenius]

Fear and greed are two enemies of traders, overcoming them on real account requires experience and practice.

The more leverage you use(greed), the more fearful you become (fear) which ultimately results in wrong decisions .... And perhaps a margin call.

[elmagd2000]

The minute you decide to quit a system is the last minute before you win.