What are some of the rules a trader is supposed to follow?
1) Cut your losses. (How much?)
2) Follow the trend (trend is your friend).
Thing is how do you define the trend? A daily chart may be up but a 30 minute chart may be bearish....so do you go long or short?
3) Take your profits. (When? When do you determine to take your money and run?)
4) What to do if different indicators tell different things?
5) At what point, can a trader tell whether he/she is blindly gambling and not trading?
1) Cut your losses. (How much?)
2) Follow the trend (trend is your friend).
Thing is how do you define the trend? A daily chart may be up but a 30 minute chart may be bearish....so do you go long or short?
3) Take your profits. (When? When do you determine to take your money and run?)
4) What to do if different indicators tell different things?
5) At what point, can a trader tell whether he/she is blindly gambling and not trading?
