I have problem with my trading time.  I could trade only at office hours, and it  became complicated, because I cannot wacth my open position. That became a problem for me, because I usually open and closed my trade manually.And because of that limitations, I forced set  Stop Lost every 5 o’clock Indonesian time, or I have to closed all open trade if it were in positif area. That’s my trading strategi at this time.

The second rules is protect the profit, no matter how small the profit is. Protect the profit at least 1 point. 1 positif point is much better than lost. We can enter the market again anytime we want and think about another strategi if the protected profit was hit.

My other trading rules is, withdraw the profit. Do not let your profit became additional margin, because we cannot predict what will happen next. Sometimes we suffer from bad trade, the market move different direction from our open position and it ate  all the margin without mercy. We must ready for the situation. So withdraw the profit, don’t let market take our wins.

I will update my other rules. Thanks to Mr. nitra for inspirating me

Result:

FX 100909

Related posts:

1. Trading Rules
2. Rest from trading
3. Weekly Result, May 17 to May 22, 2010
4. Doji Formed
5. Profit ended with bad trade