The Golden Rules To Become A Successful Financial Trader
Below golden rules cover key learning and some best practices to consider when trading indices & Forex. Below golden rules have further been derived from intensive studies of all major financial websites, in addition of reading over 50 famous trading and investment publications. The golden rules were also derived by trading real money, as well as, by working with trading geeks, on top of joining trading seminars and trading events by successful financial traders.
Why do I provide these golden rules entirely for free? Because I want to give back to the society from the opportunities I received last seven years, in fetching information from Internet sites created by other ambitious and entrepreneurial people, which have helped me to get a happier and more successful life. I believe in the essence of "by giving away for free you also get back good things in life (luck, new opportunities etc)". If you like below information, please share it with your network, and write about it in forums and social media and help me to spread the golden rules! I would also be delighted to hear your view.
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Golden Rules & Trading Tips:
- The risk-reward ratio should be at least 3:1
- Don't risk more than 2% per trade of total trading capital or 6% of total trading capital considering all openings
- You may quickly gauge the economy by checking key indicators such as PPI, CPI, NFP, PMI, GDP, sentiment index, interest rates, inflation, central bank decisions, German ZEW, German IFO, unemployment figures, retail sales, ISM Non manufacturing PMI, exports, imports, trade balance, central bank meeting minutes, industrial production, core CPI, core retail sales, CB consumer confidence
- USD & Gold have a strong inverse correlation (USD up, gold down, but not 100% certain)
- Rising yield treasury bond often implies dollar bullish
Disclaimer: Above information shall NOT be treated as financial advice, but rather serves in educational purpose. Businesslynch.com is not a regulated institution, and it as entirely at your own risk and responsibility when trading (taking positions) at the financial markets