Trading is a tough job and 90% of traders will becomes loosers in trading. Recently I have read about these trading rules in a website. I am sharing that information for the benefit of traders.
Follow trend
Trading in the direction of trend is the success secret of many traders. Generally a trend will continue for many days whether it is down trend or uptrend. Buying in dips in uprend is a good strategy for making money. Down trend is generally benefit for options buyers and futures traders because in options and futures we can go in both directions. In down trend we can't predict bottom and in uptrend we can't predict top.
Money management and minimizing losses
There is a rule trading that don't loss 1% of capital in single trade, for example if we have 100$ then we have to exit from a trade when there is loss of 1$. Stoploss in trading protects our trading capital and we have more chances to trade. Some people put their whole capital in a single trade and loose 5 to 30 percent in a single trade so in few trades their total capital will becomes zero.
Trading discipline and emotional control
Generally many traders close their winning trade with few gains. For example if he buys a stock for 100$ he sells when it reaches 105$ because of fear but he miss the total rally of the stock, that stock may reach 150 or 200$ we can't preditc. Similarly when stock is falling he don't exit with stoploss becasue of greed. Some people do overtrading becasue of he wants to cover losses in this process he loose entire capital.
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by krishatnet from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.