FxComment Trading Rules:
- All running positions shouldn’t exceed 3% to 5% of the total equity.
- In scientific risk management plans, we use only 3% of the equity for running positions and gradually we enter a position and close another.
- We can divide the used quantity (3% to 5% maximum) into 2 or three positions.
- Short-term trading strategies are better than intraday and scalping.
- In FxComment, we may close positions before reaching detected targets or stop loss.
- Sometimes, we close all opened positions if the collection is working out good. To understand this point, lets us say we have three running positions and 2 of them make 100 pips and the third is running with a loss of 50 pips, we may close the three positions with 50 pips profit.
- Sometimes, we close all floating positions on Fridays ahead of the market closing to avoid Friday’s fluctuation.
- Trader should consider FOREX market as a market for trading not for gambling since this is a common mistake. FOREX trader should be patient and should be able to control his/her emotions.
- It is not a matter of being involved in 10 or 20 position during the day, this is completely wrong, as one can make gradual profit by using small equities and good number of pips over short-term basis.