Charter of the trader
1- In financial markets, opportunities are like a bus stop, as one bus leaves, the next bus will arrive, and you may be delayed a bit. So never worry about missed opportunities.
2- Use money so that if it is lost, you will not become poor and needy, and it will not endanger your life. A trader’s self-esteem is closely related to self-esteem and calmness during trading.
3- Get rid of the idea that you can get rich quickly and eat at the same table with Warren Buffett, this work should be done with patience and calmness.
4- The presence of leverage in the financial markets can cut your neck easily so that you don’t even notice it, but when you put your hand in your pocket, you see that you have no money left.
5- In financial markets, you are a marathon runner, not a sprinter.
6- When your transaction is in loss, avoid adding and averaging, but if it is in profit, add volume.
7- Damage limit is your only defense tool and not having a damage limit is like not having a trench and camouflage in the battlefield.
8- The first duty of a soldier is to save life, then to fight, so in the financial markets, the first is to save capital, then to earn profit. It is better not to make a profit on a trade than to lose.
9- If you are regularly failing in the financial markets, don’t worry because only an active loser can become an active winner, so learn from your failures because persistence is a condition of profitability in the market.
10-Avoid sitting behind the charts. This may bring benefits to you, but in the end it will harm your transactions and physical health. Analyze, take a position, set loss limit and profit limit and leave it (set & forget).
11- Markets can easily and without any special reason continue on their path or deviate from their path, this is the essence of the market, so be with the market and do not have a bias towards its direction.
12-Standard financial markets are usually closed two days a week, so don’t turn yourself around like a snake and use this opportunity to study and have fun and improve your trading knowledge.
13- Don’t be disappointed when you make a loss and don’t complain when you make a profit, because it is only a 6-month return that shows you what you are really doing.
14- God usually has nothing to do with the financial markets, so if you are at a loss, instead of praying for your transaction to be profitable, accept failure and increase your knowledge and experience. The remembrance of God calms the hearts, so stick to it to calm yourself down, not to reach out to make a profit at your own loss, and it is only you who is responsible for your losses.)
15- There is no fixed law for financial markets, or rather, they have their own laws. So if you can’t control the market, you can control yourself!!
16- Do not use indicators or if you use one or two of them and let your eyes walk on the naked chart, it will be better for you. Sew your attention to the peaks and valleys and break them from above or below, until you gradually become familiar with the concept of the trend.
17- If you are married, your wife and children are your greatest happiness, so don’t involve them in your transactions. Some people start giving and giving and taking family members to restaurants to make a profit, but God forbid they harm, they make life difficult for the people of the world, so be moderate and moderate.
This post is written by Mohamad18431