Forex Strategy of Platinum
There are always rules that we have to abide by in life if you follow the Platinum Commandments or Forex Strategy, be assured that your chances of survival of the markets will increase.
Please take time to read and print out the commandments which are followed by forex strategies at Platinum Trading Academy.
Whether you are a new or experienced trader, we all know that one of the key elements to trading is Discipline and 95% of new traders do not take this exercise seriously.
You are the master of your own destiny and to become a professional trader you need to abide by rules. If you have bad habits and struggle with discipline you should try and reprogram the trading mind by not making the same mistakes as you might have made the last time you lost while trading in forex.
Please say this to yourself at least 3 or 4 times this New Year before you start trading market:
I will abide by the 10 Platinum Commandments of the trading:
THESE ARE THE GOLDEN RULES THAT HAVE TO BE OBEYED OVER THE NEXT 40 DAYS OF TRADING AS A MINIMUM AND I WILL FIND IT VERY DIFFICULT TO BELIEVE
THAT YOU HAVE NOT MADE PROFIT IF YOU FOLLOW ALL THE RULES CORRECTLY.
THESE ARE THE COMMANDMENTS:
1) I SHALL NOT OVER LEVERAGE AN ACCOUNT (You will keep the pounds per point or lot size consistent for every single trade for the next 40 days)
2) I SHALL WITHDRAW MY PROFITS AT THE END OF THE WEEK NO MATTER WHAT
3) I SHALL NOT REVENGE TRADE AND IF I LOOSE THREE CONSECUTIVE TRADES I SHALL CALL IT A DAY AND STOP TRADING.
4) I SHALL NOT CHANGE MY FOREX STRATEGY OVER THE NEXT 40 DAYS NO MATTER WHAT.
5) I SHALL NOT AMEND MY STOP LOSS OR PRIMARY LIMIT ORDERS.
6) I SHALL NOT KEEP LOOKING FOR TRADES, I WILL LET THE TRADES COME TO ME.
7) I SHALL ABIDE BY TRADING TIMES NO TRADES AT ALL BETWEEN 16:00 GMT AND 18:00 GMT
8) I SHALL NOT TRADE 15 MINS BEFORE AND 15 MINS AFTER THE NEWS UNLESS YOU ARE TRADING A FX NEWS TRADE WHICH IS EITHER GOING SHORT OR LONG IN THE THIRD ZONE ONLY
9) I SHALL PLACE TRADES IN THE EXTREME ZONES REGARDLESS OF ANY NEWS EVENT
10) I SHALL NEVER EVER RISK MORE THAN 2% AT A MAX ON A TRADING DAY.
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The information you’ll find in this article is for educational purpose only. We make no promise or guarantee of income or earnings. You have to do some work, use your best judgement and perform due diligence before using the information in this article. Your success is still up to you. Nothing in this article is intended to be professional, legal, financial and/or accounting advice. Always seek competent advice from professionals in these matters. If you break the city or other local laws, we will not be held liable for any damages you incur.