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One of the number one reasons that traders lose money is because they cannot follow the most important rules. In fact, some novice traders do not even have any rules in place when trading. They are simply relying on luck or tips to make money in stocks. Here are three rules that every stock trader should adopt if they want to have a chance in this market. 1. The 10 Percent Rule. The ten percent rule was made famous by the legendary trader Jesse Livermore. He said that he would never take more than a 10 percent loss on any stock. Whenever he broke this rule and let his emotions get the best of him he really suffered a bigger than expected loss both financially and mentally. A ten percent loss keeps you in the game and allows you to fight another day. I cannot begin to tell you how many times I have seen one trade turn into a huge loss. This giant loss often hurts the trader involved and has even been the cause of many blown up accounts. 2. Do Not Trade With Capital You Cannot Afford To Lose. There is an old saying, scared money never makes any money. Whenever traders and investors trade with capital they cannot afford to lose it hinders their thinking. Trading comes with enough pressure already, but betting the rent or the mortgage on a stock simply affects the traders ability to read or follow that stock's price movement correctly. A good rule is to also apply the 10 percent rule to position size. Never put more than 10 percent of your account into any one stock position. This will allow you to find other trading opportunities should they arrive. All of your capital will not be tied up in one stock. By keeping the position size to just 10 percent of your account you will not have too much of an emotional connection to any one trade. Keeping the stress of trading down is extremely important for your health. 3. Learn To Use And Read Charts. While most of the people in the world will use fundamental analysis to trade (PE ratios, EPS, book value, ect) it is the charts and technical analysis that will show you the actual money flow of a stock. The bottom line, the trend is your friend except at the end. Reading charts of stocks will show you patterns and signal where the money is going and flowing. Remember, it is money flow that moves stock prices not opinion from some talking head on the financial news channel. How many times have you seen a company report great earnings only to see the stock plummet and vice versa? Often, the chart will tell us this will happen before it does. Chart reading will also help traders to place stop losses and know where pattern breaks down or fails. Traders must understand that it is just as important to know where you are wrong on a trade as it is to know when you are correct. Charts do all of these things and more when a trader can read them. Every trader and investor should get educated in reading and understanding charts. Nicholas Santiago InTheMoneyStocks

:haha: I hear you say. But really. I think that this is perhaps the single biggest factor in the high failure rate of new traders. Perhaps it would be better put that you should not expect to make money. Let me put it in a different way. A beginner will come into trading and have had very little experience of anything similar. The market will however look familiar somehow and tease them into thinking small successes are down to skill. After all, humans like certainty and are quite happy to congratulate themselves when they think they are good at something. Would you expect to pick up a guitar and then a month or two later be playing at a rock concert? Would you expect to pick up a paintbrush and shortly after have an exhibition on display at the Louvre? Probably not. The difference is though that poor trading costs you your money. Coming into trading, you will be pitted against seasoned professionals, massive hedge funds, banks and computer systems to name but a few. Losses early on affect more than just your bank balance. They affect your emotions and your ability to learn and develop confidence in your understanding of markets and methods you use to trade. If you don't understand how to 'take a loss' this can be catastrophic. Do yourself a favour, when you start trading, trade to trade well, not to make money!

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Im a beginner trader and just wanted to say hi. Ive bin trading with a real account for about 6 months now strictly in stocks. Practiced on a simulated account for about a year off and on and i must say the difference is like black and white, I did far better on my simulated account. Hoping for better times ahead.

I've been using my iPhone 7 since the release of this phone. So I was trading for about a year now, and I never had a problem using my broker's mobile platform.

First, there's no short-cut. Either commit to spending hundreds of hours developing professional skills or don't begin at all. If it was easy, we'd all be millionaires.

For me, just for monitoring purposes. That's it.

You are right Greed is bad in Forex....

I'd strongly suggest to anyone who is serious about trading to think very carefully about whether using a mobile phone app for trading is a good idea. The interface, speed, reliabilty and security issues make it something I personally wouldn't do. If you have a position and you absolutely must leave, either make sure you have a way of getting through to your broker's execution desk quickly or close the position out before you leave.

I have a suggestion. When someone first registers at Traders Laboratory, automatically send them some tips, or links for beginners. They may not be a beginner, but it won't hurt.

Mits, Insist? I let it go long ago... and just thank the lord I don’t need this place. https://www.theguardian.com/media/2018/jan/23/never-get-high-on-your-own-supply-why-social-media-bosses-dont-use-social-media'>https://www.theguardian.com/media/2018/jan/23/never-get-high-on-your-own-supply-why-social-media-bosses-dont-use-social-media My audience here is miniscule and I only need to do a better job with them... As far as damage goes...and “What chance is there for a return to the 'glory days'” etc - imo, the intolerance of the smart posters edges out damaging TL more than the bot echo chamber dumb posters do across the years. And neither are ultimately to blame. We’re looking at multiple generations now of dumbed down... and the results are starting to show. https://www.theguardian.com/media/2018/jan/23/never-get-high-on-your-own-supply-why-social-media-bosses-dont-use-social-media Re:AI " never spoken" / “swear at the fukcre” - That’s funny, mits . To get passed off to a human quickly, I like to mumble Luvn AI .... dystopi Why You Say Indicators Fail and Price Action Always Works ? ...esp when AI uses indicators to 'create' PA shine on you crazy diamond zdo ps CrzyCzry is the ultimate generalist... :rofl:

Iphones and phones running Android have serious security issues. I'd be careful before using anything that requires a password and relates to money (banking, trading, etc.)