FX Trading Rules
1.
Do not enter new trades after 11 a.m. Friday
2.
Do not trade right when the market opens on Sunday
3.
Do not trade on the last day of the quarter (3/31, 6/30, 9/30, 12/31)
4.
Do not use more than 50% of your maintenance margin (ideally 30%)
5.
Do not trade UNFAMILIAR currency pairs
6.
Do not trade too often (no more than 10 trades per week)
7.
Do not be afraid to book a profit
8.
Do not be afraid to hold a position longer than 1 hour
9.
Do not be afraid to close a loser – a $5 loss is better than a $50 loss.
10. Be aware of the major economic news
11. Markets can remain illogical longer than I can remain solvent
12. Never double down – add to a losing position