The Golden Rules Of Sensible Trading

Hector De Ville, a professional trader has shared some of his ideas about trading rules. These rules are quite simple but very important in the long run. Let's take a look at this video:

Summary:

- Buy off support and sell off resistance <-> Don't buy against resistance and don't sell against support

- Trade the clear market bias: buy in uptrend, sell in down trend and stay in side when there is not any direction

- Reacting not predicting: let's the market speaks first and the follow its direction, don't try to lead the market

- Don't trade in low volume market: holiday, news

- The longer time frames are more significant

- Price patterns are repetitive and harmonic: if you don't see a pattern, it just ain't there -> Do not over analyze

- Trade your choice time frame: don't get confused with multiple time frames

Disclaimer

Foreign Exchange trading carries a high level of risk, and may not be suitable for all investors. Before deciding to trade any Forex Exchange financial instruments you should carefully consider your investment objectives, level of experience, and affordable risk. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with the Foreign Exchange trading, and seek advice from an independent financial advisor if you have any doubts.