Risk management | Rules to follow | Trading Psychology and the 5 Rules to follow | Trading psychology

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The most common problem with any day trader is having the proper trading psychology. Trading psychology, meaning that a day trader can stay in control of their mind and not trade emotionally. In this video I’m going to give you five rules you must follow in order to maintain a healthy trading psychology.

5 rules to follow

1. Gamble type mentality - rule-based strategy, rules - EMA20, three confluence - three things minimal
2. Do not trade on emotions - gamble mentality, 95 percent traders fail
3. Risk management - crucial - one to four, 4 to 8 percent, paramount, systematic, techniques to follow
4. Proper risk management - stop loss, take profit - do not overtrade - too many indexes, 2 to 3, simplify, keep it simple
5. Do not revenge trade

Talk about back test, strategies, forward test, EMA, multiple confluence 

Too many trades - focus on two or three trades 

Get emotional, and then revenge trading 

If you are in bad mood, super anxious, do not trade.