Make your Trading Taboos "Do not"

We have recently discussed such a topic with a friend trader and came to one common conclusion that trading is necessary when you understand and feel the situation and see how you can get out of it if something goes wrong. For the most part, we use technical analysis, although our indicator sets are completely different. Plus, each of us has our own tricks, for example, I practically do not work with silver, because I constantly get into some questionable situations on it. But my friend does not trade even when there is a mega profitable situation with the franc, because once he lost half of his capital on it. And I think everyone has those moments, so the important thing is that your rules work for you..

Do NOT spend too much time on Sites such as FF etc. Keep your money for trading, not for feeding to online guru's etc. Good information is FREE -no need to pay for it.
Do NOT dive into trading live - but DEMO before using real money.
Do NOT believe that Forex is the best vehicle for trading - look at Micro Futures for better regulated trading.

I stick to OLD tales from the trading world:

1. don't chase the loses
2. do not overtrade
3. know when not to trade
4. whenever there is any (much) doubt, there is no doubt (some doubt is always healthy, the ones that don't are risky af)
5. question everything, try, test, model, reset, back to basics...

G.E.L.

Do not GUESS...
You either guess or use logic.

We all love guessing. BUT, is it useful ? I don't think so.

Do not EXPECT...
Be prepared for the worst case scenario, always. AKA very, very basic risk management.

And finally
Do not LISTEN...
as human beings, we can only lie and/or assume. PLus, the EGO makes things even worse.

ignore everyone (including me, of course, I'm jst here cause I'm high lol)

If I move a Stop Loss closer to price, I will not move it back.

Basically, no moving the SL back and forth.

Do not second doubt yourself and panic in the morning!

don’t dwell on losses and move forward and dust yourself off

don’t pay for chart analysis and courses unless your the chosen one

I think the main thing to do in the market is not to risk everything you have. I have some traders I know who trade va-bank all the time, i.e. by investing money, they immediately prepare to lose it and trade as risky as possible, which makes their trading more like a game and they often feel the greatest disappointment. After that it usually takes them a certain amount of time to try again, but they do not draw any conclusions and just keep trading in the same format. I think that this is not the best solution. Money likes to be managed and distributed. You have to admit that none of us can boast of statistics without a single mistake.
So we must do everything possible so that if something happens, we can continue working and restore the subsidence without additional investment.

There is no need to hurry to get everything at once, because many especially novice traders think that they can get a huge profit from the minimum investment while devoting some time to trading. But this is a colossal misconception. I think that trading should be treated as a normal business - you do not expect that your restaurant will pay off all investments in one day? How can you expect everything to turn out quickly in trading? Of course you can't. But many people think that they can break the system and get everything from nothing. It does not happen - we get exactly as much as we deserve through working on ourselves, our capital, our knowledge and ability to find a way out of any situation, to draw conclusions and analyze the events. It can't be any other way. And there's a lot of proof of that.

Do not:

-Trade without a stop loss
-Deviate from your rules
-Trade if you can't give your plans & charts your undivided attention.
-Look for reasons not to get in if your edge gives you an entry point, every moment is unique.
-Give up. Keep trying till you find your edge.