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We have been talking a lot about rules that we are to follow. But if we are to follow rules on our level, imagine how much rules are followed by those who have already grown to professional level! Boy, that is probably hard to even remember all of those.

But do not worry. Even though we are still on our way to being pros we can already start living according to their trading rules. After all that, adaptation is going to be easier for us when we get there.

So. What are the rules that professional traders use and follow. 

 

1. Discipline.

2. Predict the future.

3. Trading plan.

4. Avoid obvious trades.

5. Stick to your rules.

6. No market gurus.

7. You’ll get no free pass.

8. Listen to your intuition.

9. Do not trust your asset too much.

10. Take care of your personal life.

 

1. Discipline.

That might be an obvious first choice but as cliché as this sounds it is all true – you are never going to find an undisciplined trader. You are never going to see a pro going out of his way to NOT follow his trading plan and be a rebel in the community. After all they become pros only due to the fact that they follow rules all the time.

 

2. Predict the future.

One of the perks of being a professional trader – you are almost buddies with the market. And as a true buddy the market is ready to open up and give you some of its secrets, including one very interesting and important skill – the chance and ability to foresee the future of your asset of choice. And staying ahead of the rest of market participants’ is a pretty cool and VERY useful skill that you can master.

 

3. Trading plan.

It is just like our first point – trading plan is sacred to every trader and going into trades without it is not something that is usually done. On the contrary – the less pro you are the more advisable it is for you to use your trading plan.

 

4. Avoid obvious trades.

When the loss is obvious, when the trade seems to be too good to be true, when you see a perfect set up for a trade that means that you are trapped in a ‘too obvious’ situation. That means that you have all the risks to land into a ‘too-obvious, lost-in-crowd’ situation that is going to result in a loss. Obvious trades with obvious losses are to be avoided at all costs.

 

5. Stick to your rules.

It should be clear – you can totally make up your own rules. But if you made up a rule that must have been for a reason, so do not abandon it, stick by it and this one little thing might just be what brings you to professional greatness.

 

6. No market gurus.

Never consult the people who consider themselves to be a ‘market guru’. These people tend to be the reason behind huge losses. Always remember – your money is on the line, not theirs. So why should they care? If you need advice, it is better to turn to professional support like our team or the team of your broker.

 

7. You’ll get no free pass.

Do not think that you are going to get a free pass or will get to your success if you are going to cut corners. Just like in sports – you are to go the distance and train hundreds of hours in order to be successful.

 

8. Listen to your intuition.

This is the rule for those who have been in the market for at least some time now. You need to trust your intuition and to listen to it. If it tells you not to go into a trade because the chart might fall – it is better to listen to your gut. Over time you start developing a killer trader intuition. And listening to it might just save you.

 

9. Do not trust your asset too much.

When you trust and love your asset too much your judgement starts being clouded. And that is not something you can let happen – clear judgement, even when it means that you are to drop your favorite asset, is going to save you from a lot of losses along the way. Never get too attached to your asset.

 

10. Take care of your personal life.

When your personal life is cluttered and when you can’t really focus on a trade, that is when troubles start. If you had a fight with your significant other, you are going to be thinking about it all day and you are not going to be able to focus on your trading. So, personal stuff comes first – without order in there you are not going to be able to focus and profit.