Rules Based FX Trading Methodology summed up via Alpha Trader by Brett Donnelly

OVER THE NEXT YEAR, I WILL BE TALKING MORE AND MORE ABOUT SCIENCE, MINDSET, METHODOLOGY & MATHEMATICS YOU NEED TO UNDERSTAND TO BECOME AN " ALPHA TRADER." LET'S START WITH BRENT DONNELLY'S 25 RULES OF FX TRADING THAT EVERYONE SHOULD FOLLOW

Rule #1 of FX Trading:

"Don't blow up. Avoid risk of ruin above all else"

Rule #2 of FX Trading

"Adapt or die"

Rule #3 of FX Trading

"Do the work. Read the speeches. Analyze, read and study"

Rule #4 of FX Trading

"If you look hard enough, you can always find a tech level to justify a bad trade"

Rule #5 of FX Trading

"It's a big level, it not a good enough reason to put on a trade"

Rule #6 of FX Trading

"No mo' FOMO. Never worry about missing it. There will always be another trade"

Rule #7 of FX Trading

"Flat is the strongest position. When in doubt, get out"

Rule #8 of FX Trading

"It doesn't always have to make sense"

Rule #9 of FX Trading

"Never fade unexpected central bank moves. Jump on them"

Rule #10 of FX Trading

"Making money is hard. Keeping it is harder"

Rule #11 of FX Trading

"Successful traders make more money on up days then they lose on down days"

Rule #12 of FX Trading

"Anything can happen"

Rule #13 of FX Trading

"Keep a trading journal. Thoughts are abstract and fuzzy. Writing is concrete and solid"

Rule #14 of FX Trading

"There is a time and a place to go big"

Rule #15 of FX Trading

"Good traders vary bet size"

Rule #16 of FX Trading

"It always looks bid a the highs. It always looks heavy at the lows"

Rule #17 of FX Trading

"You control the process but you do not control the outcome"

Rule #18 of FX Trading

"Each trade is a drop of water. The market is an ocean"

Rule #19 of FX Trading

"Know your edge"

Rule #20 of FX Trading

"Know your time horizon"

Rule #21 of FX Trading

"Good traders have a plan. They may not always stick to the plan but they always have one"

Rule #22 of FX Trading

"Tight/aggressive wins"

Rule #23 of FX Trading

"Be flexible. Don't get married to a view"

Rule #24 of FX Trading

"Do not let random, low-conviction trades kill you"

Rule #25 of FX Trading

"Have fun. If you don't enjoy it, what's the point?"

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