The Ten Commandments of an amateur FOREX trader.
With ThirdBrain, we are not competing against our(s) client(s) and we know that Trading has always a big risk.
After years and years studying both trader’s behavior and technics of trading itself , we can pronounce the 10th commandments of the amateur trader.
Beleive us we are reaching close of 100’000 traders behaviors and history of trading with our(s) strategie(s) and this rules can be also extended to stock market if you are playing stock market with the Forex spirit – which is not really what we advice but.. –
Then it’s the 10th commandments of an AMATEUR FOREX TRADER.
Commandment #1 : Don’t start with less than 1’000 USD playing live.
Before this limit, you have a big chance to lose all your fund after some days or week and you will not train. 1’000 USD is to train more than to earn “really” something but you will be able to survive a while and test some technics.
10’000 USD is the real money to do something serious. Before it’s just “training”.
100’000 USD is the minimum capital to hold to live on trading. Before it’s just an hobby and this 100’000 USD need to be considered as lost because you will never touch them..only get the benefit from them.
Commandment # 2 : Don’t listen client support advices of brokers.
The customer care of brokers doesn’t know at all how to trade.
Listening their advices is like going to Mac Donald beleiving you will learn to cook like a chief in a 3 stars michelin.
Commandment # 3 : You won’t be rich trading.
Commandment # 4 : Put the money you can lose.
Commandment #5: Train. Learn. Train. Learn. Train. Learn. Repeat
Commandment # 6: Don’t enter in any MLM schema where the only business of these people is to attract other people.
…just pure bullshit and we will list them here only for the fun and because we are bad girls.
Commandment #7: Be alone.
(yes). It’s for autist guys or girls but speaking all together in a chat room is not a trader’s mindset. the trader is alone.
Commandment #8: Create a trading plan and stick on it during at least 3 to 6 months minimum
You need to know to write. True. But it’s usefull
Commandment #9: The more you play, the more you lose.
Commandment #10: A self-declared Guru is a stupid trader. Never follow a Guru.