Rule Book
1. God will Not Save You in this.
a. Keep your religious emotions out of all this.
b. You are responsible for your actions.
c. Play Smart.
2. You can Never Earn anything by Gambling into Forex.
a. Never Ever think to try your Luck.
b. Never Ever break your Rules.
c. Always Follow your Strategy.
3. Make Weekly Planning & Keep Analyzing Market Daily.
a. We are nothing without Weekly Planning, because We need to have our own forecast and mindset ready for the market.
b. Market is moving 24 Hours, Keep adjusting your strategy as per daily market conditions.
c. Fundamentals are the main thing, focus on Technicals alongside.
4. Technical Indicators are Good
a. Use Alarms to Trade at H1 or D1 RSI 30 and 70. They still work great if matched with fundamentals.
b. Monitor ADX : 50+ can keep the trend going on for Longer and avoid reversal or correction.
c. Draw Channels, Trendlines to understand ongoing trend.
5. No Major Fundamental Event can be Ignored by leaving trades Open.
a. We can ignore tiny events, but Major Events always drive the market.
b. Follow Complete Strategy Roadmap : Technical + Rumor + Event + Correction + Reversal.
c. Avoid Interest Rate Decisions and Speeches, I have been losing money to them for 15 Years now.
6. Never get Distracted by your Personal Life Events or other tasks.
a. We can't stay out of market during weekdays or with open trades.
b. Drink in Moderation, I always lost money while being overconfident with Whiskey.
c. Don't be greedy for making extra trades.
7. Use Proper Risk Management
a. Loosing a Trade is Okay, but Loosing all account money is Never Okay.
b. Use Fixed Stop Loss, if your strategy went invalid and trigerred SL, What makes you believe to keep it open ?
c. Keeping a loosing trade open for several days only increases loss, additionally we are blocked for several days, we can't do any new trades, that is another loss.
d. Accept Loss at its best point.
e. I take profit of 15-20 Pips, Accept Loss of 150-200 Pips, does it makes any sense ?
f. Always look for Reward to Risk Ratio in long run.
g. You must have proper logic of opening and closing trades.
h. Mahabharat vale Yudishter vang sirf khud hi haar haar ke khud heart attack lyi jaan da koi fayda nai, End it when you loose asap. Take a break.