Here are 4 trading rules you should follow when trading:
**1. Have a trading plan.** A trading plan is a set of rules that you will follow when trading. It should include your entry and exit criteria, risk management rules, and position sizing strategy. Having a trading plan will help you stay disciplined and avoid making emotional trading decisions.
**2. Use risk management.** Risk management is essential for any successful trader. It involves limiting the amount of money you can lose on any given trade. A common rule of thumb is to risk no more than 2% of your capital on any single trade.
**3. Let your winners run.** When a trade is going in your favor, let it run. This means not taking profits too early. The best trades often produce the biggest profits, so it is important to let them run their course.
**4. Cut your losers short.** When a trade is going against you, cut your losses short. This means not holding on to losing trades in the hope that they will eventually turn around. The longer you hold on to a losing trade, the more money you can lose.
Following these four trading rules will help you increase your chances of success when trading. However, it is important to remember that there is no guarantee of success in trading. Even the best traders lose money from time to time.
Here are some additional tips that you may want to consider:
* Do your research. Before you trade any asset, it is important to do your research and understand the risks involved.
* Use a demo account. If you are new to trading, it is a good idea to start with a demo account. This way, you can practice trading without risking any real money.
* Be patient. Trading takes time and practice to learn. Don't expect to become a successful trader overnight.
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