10 Rules for Traders

[Gurakes]

10 Rules for Traders Never use stops. Stops are for beginners. Never use "how to trade" materials to learn how to trade. Never buy or use a trading robot. Don't use indicators in graphics... the price is your best indicator. Don't get obsessed with the risk-benefit ratio. You can't predict exactly how much a pair will move. Don't use someone else's trading system. Design yours according to your style. Don't go into trading forums looking for "advices." Nobody has the Holy Grail. Never close an operation that is negative. Graphics show that every pair eventually comes back. Don't spend money on brilliant trading systems. Don't operate on time frames less than an hour.

[Thesbiskes]

Number 7 says you shouldn't look for advice in forums... do you realize that you wrote your 10 rules as advice on a trading forum? Do you see the irony? Also, that rule is the only one that makes any sense. The other 9 are probably the worst set of suggestions I've ever read.

[jttoSarces]

I can't agree more. lt's like a quick guide to busting your account.

[TesiSesdoCa]

Your rules are designed to make people fail. You better not give advice of this kind.

[escobos]

Sounds like he's operating with martingala... we know how that ends.

[cesTutesnzesTesxxa]

I agree on the 6th and 9th, but the thing about never shutting down a negative operation... that's financial suicide.

[desnu.dcS2]

Rule 1 and 10 straight to the trash can, and that's nice.

[Axrunes]

Rules 5 and 8 contradict each other. If you don�t calculate risk-benefit, you can�t decide how much to endure a losing operation. Your �advices� are like an arrow in the Achilles heel: deadly for any trader.

[AxrcacudesCoto]

There are no universal rules in trading. Everyone must develop their own rules according to their style, psychology and experience. Stop Loss is necessary for many, and technical analysis or risk/benefit are not optional.

[AxchoSu]

Is there any way to remove absurd threads like this?

[esgesrcesbo]

I hope you�re a better trader than a �counsel.�

[Cosesruis]

Who knows, does... who doesn't know, teaches.

[jesvondor]

These look like the 10 rules to lose money as fast as possible.

[Jnobatr]

From 1 to 9 are absurd, but the 10 is the cherry on the cake... just one hour up? What a lack of judgment.

[Njaxrun86]

I'm not going to follow almost any of these rules, if I'm going to use stops, if I'm going to shut down bad operations, and if I'm going to analyze the risk, and yes, I'm going to look for good advice.

[Sunesronso]

This is a joke, isn't it?

[NvckCouCNesCais]

Some ideas may have some value if they adapt, but talking at all in a volatile environment like forex... doesn't make sense.

[DesruaXVRC]

I agree with the creator: you better watch TV again and leave trading to those who know.

[EsnnesEsesrak]

I hope no one takes this seriously, it's a direct recipe for melting.

[nucaSess1x]

That is why it is important to warn about such dangerous advice as these.

[sorguaTy]

Rule 8 should be enough to understand that this is sarcasm... or that the author doesn't know what he's doing.

[Curoesyesyi]

10 steps to break your account. Thank you for sharing how not to operate.

[Vesynes1993]

This thread should be entitled �How to melt in 24 hours�.

[Nesthesn30]

This thread is pure worthless stuffing. Everything you put is upside down.

[Axrtynikes8612]

No stops = dead count. Learning materials are key at first. Robots... only if you know how they are programmed. Price is key, but indicators help interpret it. If you don't evaluate risk/reward, what do you rely on to enter? Use other people's systems only if you understand them. Listening to others is useful if you know how to filter. Don't close in loss = guaranteed ruin. Bright systems don't mean profitable. Any timeframe is valid if you know how to operate.

[C.ACodos]

Thank you for opening the debate... even with the wrong approach.

[birn10]

Now I understand why he's in the Rookie Talk subforum... it's just how newbies talk.

[OSuses1970]

New Rule 11: Forget the previous 10.

[urno34]

Trading rule number one: preserving capital. None of these rules helps that.

[q3ctoxess]

This is just pure ignorance.

[AruaSRairo]

Leave this thread before IQ comes down.

[KuhesuZ]

10 rules to crash without brakes and without a belt.

[Esibroy]

I only follow one rule: if something works for me, I still use it, no matter what someone else says.

[Sounes]

Yes, these �rules� melt your bill in a matter of minutes.

[ButTkrziges]

I don't understand how anyone can follow this and think he'll do well.

[JIEsNARUIS]

Don't use stops and leave open operations at a loss... that's not a rule, it's a death sentence.

[Batuchotes]

Better not recommend this thread or as a joke.

[Carcuxxa]

The Holy Grail of trading does not exist, but if it existed, it would have a high rate of success and risk less than profit.

[bresynacchu]

And don't forget rule number 1: always use stop loss!

[Nresnkyzukestora]

Before entering, define your exit point. If you don't know when you're going to cut, don't go in.

[JesiCoBCCEsT]

You can have 99% hits and still lose money if your risk/benefit ratio is disastrous.

[uvesnuis]

Many successful traders started out risking a lot... and some didn't live to tell.

[chesrSuodesnt]

You cannot dissociate success rate and risk/reward. Both go hand in hand.

[Tesresnnus67]

I don't understand how anyone can think that just one of those factors defines profitability.

[RisuTk]

You said that with just one of those variables you can be profitable... that's false if the other doesn't go along.

[DesvudescobesS]

So what's the other half of the equation you're saying is understood?

[ydrttesrutt]

You wrote yourself, "To be profitable you only need one of those two variables." That's not true without context.

[esndrosCdS]

I thought your contributions were better than the original �rules�... but well, a shame if you leave.

[uzesnc975]

If you don't like fish, bad luck.

[CausosesnTknn]

I'm interested in reading your other rules.

[Thesbiskes]

Most who are shocked by these rules do not understand that trading is not an exact science. Using stops, robots and prefabricated systems is comfortable, but it does not make you a trader, it makes you user. Here we talk about having absolute control over your operation, not walking around with wheels. Of course it is not for anyone. These rules are aimed at those who want to stop following the flock and start thinking for themselves. If you expect someone to tell you when to come in and get out, you better get an office job.

[Gurakes]

I have received many negative comments, but I love it. It means that I am touching fibers. Most prefer to follow "accepted" rules even if they don't work. Using SL because someone said it? Following a fixed R:R? That's fear disguised as method. I learned that when something works, I don't need justification from anyone. If you mind reading this, maybe it's because deep down you know you're right but you don't dare take the risk.

[Gurakes]

Many criticize point 8 without understanding it. It is not about enduring infinite losses, it is about knowing how to read the market and understanding that a bad entry does not necessarily mean a bad decision. Closing in loss without context is acting with fear. There are pairs who take their time, but end up coming back. Obviously you cannot leave a position without control, but closing because it dropped 30 pips is from beginners. The price does not move by your emotions.

[Gurakes]

For all those who say these rules make you lose money: did they already notice how many have broken by �the right rules�? How many use stoppers, indicators, robots, and still live burning accounts? The problem is not the tools, the problem is that most have no idea how to use them. They learn a recipe and repeat it as parrots. These rules are for you to start thinking, not for you to follow blind.

[Gurakes]

To those who laugh at not using SL, I ask them: how many times did the price touch your stop and then go in your direction? And how many times did you think �I should have waited�? The market knows where your stops are, and it goes for them. I prefer to risk controlling my exposure by lotage, not by artificial limits that activate only by fear. I prefer to be in total control, not that the broker decides when I leave.

[Gurakes]

Of course, you could also continue using your $199 miracle robots with ridiculous names like �ForexSniper3000�. Totally, if losing automatic money is your thing, good for you. This list is for people who want to stop believing in stories. If you�re not prepared to question what everyone repeats, then keep waiting for your �holy grail.�

[Gurakes]

The irony is that many who criticize these rules haven�t been in demo for six months. Repeat what they read on an affiliate blog that sells �become a trader in 3 days� courses. I prefer to try different things. Trading is a game of odds, but also of psychology. Sometimes breaking the rules is what you need to really understand how this works.

[Gurakes]

�Design your own system,� they say is wrong. Sorry? Is it forbidden to think for yourself now? What follows, that it is wrong to do your own analysis as well? The easy thing is to follow the guru in turn. The hard thing is to make mistakes, correct and grow. That�s the difference between a follower and a trader.

[Gurakes]

Avoiding �how to operate� materials doesn�t mean you shouldn�t learn. It means that you don�t take what others say as dogma. Learn to learn on your own. Many materials teach to follow steps without questioning. That�s not learning, it�s programming. And if you�re programmed, are you really operating?

[Gurakes]

If you think these rules are crazy, welcome. Madness is thinking different in a world that punishes originality. But that�s how the real ideas that work are born. Trading, as in life, following everyone�s path leads you to where they are all: stuck, frustrated, not knowing why they don�t win.

[Gurakes]

Yes, it's true, the rules sound provocative, and they're designed like this. If you don't mind what you read, you're not going to question it, and if you don't question it, you're not going to grow. These "rules" are rather anti-rules, to invite you to think, not to follow. If you expect someone to give you the instructions, you already started wrong.

[Gurakes]

�Never use indicators,� they say is wrong. So it�s mandatory to see a screen full of colors and lines that you don�t understand just because �they all do�? I prefer to see the price. No ornaments. No confusion. The best indicator is there: in the price action. Only few can read it.

[Gurakes]

The rule of avoiding timeframes less than an hour is based on avoiding noise. It is not dogma, it is advice based on experience. In small frames you can sweep a fly. Of course, if you are a scalper with 20 years of experience and nerves of steel, go ahead. But if you are just starting out, do you really need to be suffering for every 1 minute candle?

[Gurakes]

Many criticize the lack of risk management. But the risk is also controlled with exposure, not just with stops. You can have a 10-pipe SL and risk half a salary in an operation. The key is not in the stop. It�s in how you structure your operation, how you decide how much to risk depending on the context. It�s not black or white.

[Gurakes]

�This is to lose money,� they say. And yet, those who follow all the traditional rules also lose it. So what�s the point? If you�re going to lose, at least lose learning something new. Not repeating the same cycle of always waiting for different results. That�s crazy.

[Gurakes]

Most of the rules you repeat as parrots are designed for the broker to win, not you. Stop loss, trailing, rushing tickets... all that is music for your business. Do you think a bank uses RSI or MACD to move millions? No, they use liquidity, volume and flow control. But of course, that�s not taught to you in the course of 99 euros.

[Gurakes]

I started believing in all the classic rules, and I lost money like most of them. When I got tired, I started experimenting. It cost me, but I learned. Today, I follow a methodology that is based on understanding the market, not following indicators. That�s why these rules make sense to me.

[Gurakes]

I don�t expect these rules to be accepted by everyone. I�m just looking for someone to read them and say, �Wait, what if I try something different?� That�s the point. There�s no magic formulas. Just paths to discover. And this is one that few dare to walk.

[Gurakes]

If the post bothered you, great. It means it made you think. That�s the purpose: to get you out of your comfort zone. If you can�t even read a different idea without feeling attacked, how are you going to endure the volatility of a market in full news? (continue in the next block...