These rules are not instructive. They invented for himself a trader with 10 years of experience and currently earning more than 100 thousand dollars a year. I'm learning from him. Each time returning to this text, I find something new.
Trading rules, time-tested and necessary for the survival of the trader
1. Plan your trade. Trade your plans.
2. Record your results.
3. Keep a positive infusion of independence from your losses.
4. Do not bring the market from work to home.
5. Constantly raise the level of your goals.
6. Buy on bad news and sell on good.
7. Don't be afraid to buy high and sell low.
8. Always have well planned time for market research.
9. Insulate yourself from the opinions of others.
10. Always be calm, persistent and consistent, act rationally.
11. Limit your losses - use stops!
12. Never cancel a stop after you have placed it.
13. Never enter a trade because you are tired of being out of the market. To be out of position is also a position.
14. It is not necessary to enter and exit the market too often.
15. Traders learn from the losses - not profits. Study each of stop loss to improve their knowledge about the market.
16. The most difficult task in trading is not prediction but self-control. Successful trading is difficult and is often accompanied by negative emotions.
The most important element of successful trading is You.
17. Always discipline yourself by following predefined rules.
18. Remember that a bear market may be over a month to destroy what you have built for three months of the bull market.
19. Do not let large profits turn into large losses - put trailing stops on 20%.
20. You must have a plan, you must know your plan and you should follow it.
21. Expect losses and treat them with dignity. Those who brood loss, be sure to miss the next opportunity, which is likely to be profitable.
22. Share your profit in half and never risk more than 50% of the profits, acting against the market.
23. The key to successful trading is learning itself.
24. The difference between acquiring on the market and losing there is not so much in natural abilities, how many abilities a disciplined way to learn from your
mistakes.
25. Think of losses as a step towards victory.
26. You took a stop loss? Forget about it quickly. You got the profit? Forget about it even faster. Do not allow egoism and greed to get in the way
of clear thinking and hard work.
27. One of the most important secrets of traders to adjust their desires with the desires of the market. The market is truth as it reflects all
the forces fighting on it.
28. Much easier to join the trend than to get out of it.
29. If the market is not doing what you expect it to do - get out of the market.
30. Never add to a losing position. Losing position means that You are not right.
31. Don't try to predetermine your profits.
32. The key to wealth in trading is simplicity. Avoid methods which You do not understand.
33. Don't be too curious concerning the reasons which move the market.
34. Beware to open too large positions, which can affect your emotions. Don't be too aggressive in the market. Treat them gently, let your profits grow gradually,
not explosion.
35. Do not attempt to identify peaks and summits.
36. You have to trust yourself and your ability to think sensibly, if you want to win in this game.
37. On a thin market should not try to guess which way will be the next big movement up or down.
38. In the world of money nobody knows what will happen in the future. No! So successful traders do not try to place their positions on the basis of what needs
to happen and react to what has already happened.
39. If the ship is sinking, don't hesitate to jump!
40. Lose your ability but not the money. With rare exceptions unusual circumstances, get in the habit of using stop-profit. Don't beat yourself up if the price
continues to grow without you. Better think about those cases where timely profit-taking prevented the loss.
41. Do not expect that the market will bring you as much money as you want. Be thankful to him for what he can give you today.

No. 39..I dont jump of the ship in time

Almost two years ago, this article has changed my trading
Swing Trading: An Antidote for Frustrated Traders
Forex trading – the most frustrating endeavor you will probably ever face in your lifetime.
Most traders enter the market with the best intentions but dissolve their hard earned money to the market, filling the pocket of successful traders.
At The Forex Guy, we believe the level of success reached depends heavily on the individual trader’s methodology.
Most traders are drawn into the lower time frames where they believe more money is waiting for them.
These types of strategies encourage very bad habits and are toxic to your trading mindset.
I would like to talk with you about the extremely powerful nature of swing trading – possibly the simple solution you’ve be searching for all this time which could change your chart reading skills, today.
What is Swing Trading?
I am going to assume you’ve looked at a price chart before. You would have noticed the market doesn’t move in straight ‘bee lines’ from point A to B on the chart.
Instead price ‘swings’ from high and low points, gradually stepping it’s way higher or lower down the chart. These ‘swing highs’ and ‘swing lows’ are key technical points on a price chart which can help a trader anticipate where the market is heading with high accuracy.

Swing Trading: An Antidote for Frustrated Traders
These technical points are more familiarly known as swing points.
‘Swing’ trading is the skill of reading a price chart and tracing the footprints swing points leave on the chart to anticipate future price movement, and building high probability, high ROI trades off them. “Buying the dips and selling the rallies.”
A trader’s ‘style’ can be broken down into four main categories.
Scalpers (Short term, quick in-and-out trading)
Day Traders (Intra-day trading, no overnight positions)
Swing Traders (Medium to long term, trend momentum & range trading)
Position Traders (Long term, ‘buy and hold’ trading )
Swing trading sits in a ‘sweet spot’ between the caffeine fueled day trader and the ‘buy and hold’ position trader.
It is the ‘Goldilocks’ approach – not too fast but not too slow.
A nicely paced trading style, centered around momentum trading. You can let your trades run to take advantage of what’s happening on a bigger scale. It’s less taxing on you (mentally & physically) – and most important of all, it’s a very lucrative trading methodology, especially for the little effort you put in.
These strategies don’t normally appeal to many traders on first impression. It appears too boring to most new traders – they want trade signals rolled out at high frequency, because of the dangerous misconception of ‘more trades = more money’.
This mentality pushes the majority of the herd towards lower time frames to where toxic day trading and scalping systems are deployed.
Let me share with you why swing trading is one of the most effective approaches, and my favorite methodology of Forex trading
Swing traders have the advantage of getting the biggest ‘bang for their buck’.
Less effort required
Swing traders don’t have to invest a lot of time in front of the charts to be able to trade at full potential.
Most swing traders, including myself, use the daily time frame to perform technical market analysis.
More aggressive swing traders will switch to the 4 hour time frame to ‘tweak’ trade entries, and now more recently we’ve been using 12 hour charts in the war room.
Unlike scalpers and day traders who have to sit in front of the trading screen to wait for signals, swing traders can go with a more set, forget and collect approach.
Swing traders who use the end of day trading approach, only have to check the markets at the daily candle close. It’s always recommended to use a broker that serves you a daily candle which closes inline with the New York 5 pm business close.
If a trade signal is found after the close of day, swing traders can setup up their trade order by inputting entry, stop and target prices, and then walk away from the computer to go about their business.
By setting and forgetting your swing trade positions, you only have to check the markets once per day for about 20 mins.
This ‘hands off’ approach helps smooth out the emotional roller coaster that many traders struggle with. The idea is to let the trade run its course, not fret over every minor move the market makes throughout the day.
Swing traders who use intra-day charts like the 4, 8 and 12 hour chart still only have to spend a small amount of time analyzing candlestick closes in contrast to someone who is sitting in front of the screen cycling through 5 and 15 min candles.

Swing Trading: An Antidote for Frustrated Traders
Develop Strong chart reading abilities
Swing traders can become master chart readers by learning how to read the higher time frames.
One of the benefits of the daily time frame is the fact that it filters out a lot of the intra-day noise. By getting rid of the noise and focusing on the bigger picture – you will find true clarity, probably for the first time in your trading.
These time frames above the 1 hour chart allow you to focus on the core market movement and identify trend momentum much more easily.
It only takes a couple of seconds to get your bearings on a time frame that offers you more data. Trade signals and price action patterns are much more easily defined in contrast to the lower time frames, where price can be very ‘messy’.
Human behavior rarely changes. As a collected group, we keep doing the same thing over and over again in the markets.

Swing Trading: An Antidote for Frustrated Traders
The market continues responding the same way to certain situations, which is great for those who tap in and exploit the reoccurring behavior.
The collected market psychology is visible in the candlesticks, thus unique situations present themselves as price action patterns.
An example of a price action pattern is the rejection candle reversal pattern, which predictably manufactures the same response from the market as it has in the past many times before.
By using historical data and observing the past behavior of pin bars, we can start to identify low risk trading opportunities at key turning points in current markets.
As a swing trader, you will eventually be able to read the ‘herd mentality’ in the candlesticks and accurately anticipate future price movements based on observations in the past.
The Art of Swing Trading
We’re taking about the skill of catching trend momentum at the optimal moment.
A lot of ‘gurus’ say to take the breakout of previous swing highs or lows – I don’t like this approach because these recommended entry levels are consistent turning points in the market and are prone to breakout traps.

Swing Trading: An Antidote for Frustrated Traders
The smart way to approach swing trading is to look for short term oscillations (counter trend movements) within in a trend to take advantage of good buying or selling opportunities.
First you need to identify ‘swing levels’ where old resistance becomes new support, or the other way around.

Swing Trading: An Antidote for Frustrated Traders
When a swing level is tested, traders can look for buy or sell signals generated by their trading system. In our case we look for price action reversal patterns to enter us into a trade.
The idea is to buy on weakness and sell on strength to get you into the trend at the best possible prices.
Read that again…
Buy on weakness
Sell on strength
The example above demonstrates the advantages of buying on weakness in an uptrend.
Smart trading is exploiting those short term oscillations (counter trend movements) to enter into the trend momentum at these swing levels.
Swing trading allows you to catch the ’meat’ of the move by generally holding a position that can last anywhere from a few days to a few weeks – sometimes months.
Much better than day traders and scalpers who spend hours in front of the screen to pick up breadcrumbs.
Slow and steady wins the race here. The advantage here is you don’t need any sophisticated computer setups or ultra-high speed connections.
Spreads don’t become an issue either, when you’re pulling in 150-200 pip or more on each trade, you’re not going to kick and scream about a spread charge from your broker greater than 3 pips.

Swing Trading: An Antidote for Frustrated Traders
Managing trading with your life
Let’s face it, we all have busy lives.
Most of us have full time day jobs, studying or looking after kids at home. That doesn’t free up a lot of time to allocate to spend in front of the computer for Forex trading.
Most new traders who opt into high frequency trading find it hard to blend it into their busy lifestyle. It consumes much of the traders life – often making them very anti social, and if trading isn’t going well, a very negative person to be around also.
Location can be a problem for some people as well. The trick is to keep trading as simple as possible.
Their time zone may not be a good fit for intra-day systems, especially if you have to get up at 3 am to when volatility is high enough.
This is where swing trading really shines.
You only need to check the markets at key intervals which are often 8-12 hours apart.
If you go a step further and focus only on the closing price for the day to do your price action swing trading analysis – you really only need 10-20 minutes per day to allocate to the trading screen to set or check your trades.
By using the set and forget approach, there is no need to ‘babysit’ your trades or watch over them.
Once your trade is set, the market takes over and you go live your life. So, it’s possible to trade on a more casual timetable but still reap the benefits of a full time trader.
In a Nutshell
This type of trading may not appeal to everyone at first, but if you find your system frustrating – I really suggest you look into this.
Some traders need time to adapt to certain methods, or try others systems before deciding which is or isn’t a suitable fit for them.
I am however confident that if you persist and truly want to become successful with Forex, that you will eventually find yourself swing trading with the rest of us.
Traders who are interested in maximizing their profits for the minimal amount of time invested should really consider making the switch to swing trading strategies.

Very interesting stuff
4 Crazy Price Action Forex Tips That Will Seriously Improve Your Trading!
Do you want to be able to open up any price chart, and forecast near term price action with confidence on your own?
Every trader aspires to be an awesome technical analyst. It’s one of the core skills needed to be able to trade the Forex market like a boss.
Price Action Trading is the methodology you will eventually fall in love with.
Let’s face it, it’s a very seductive and addictive form of analysis, and when done right – very lucrative!
At it’s core, price action is something trading systems need, and many have been derived from its principles.
Once you master the charts, you can come up with your own flavor of trading system that works for you and be proud of its results.
But first, you need to master the charts, and become your own king of technical analysis.
In this guide, I’ve got some awesome tips that will make the charts just pop out at you, instilling a huge boost in clarity in your analysis next time you open your trading software!
Are you ready? Let’s begin…
When analyzing the price action context, some things you need to consider are:
Current price action forex structure
What’s happening on the higher time frames
Forex price action to the left
Relative location of price to other important technical factors
Presence of support, resistance, trend line structure etc
If I could illustrate my point here, I would show two charts. The bad way, and the professional way to approach candlestick signals.
Look at the flow chart above, is this level of decision making you take when putting your money on the line?
Now look at the chart below, this is how I recommend you approach a trade decision that involves a candlestick pattern. Give this a try…