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9 Successful Traders And Proven Trading Rules
I want to share the most successful traders stories and trading rules they practice to consistently make money trading the markets.

You will be amazed how much your trading improve when you start practicing one, two, or all of these rules.

Many beginner traders come into trading because of the profitability, forgetting that trading is a volatile type of market that involves high risk. Without making due consultations, proper education and practice, they dive in. Some have been lucky while others have not. Either way, it comes with a price.

To successfully trade the markets, there is a need to learn and follow successful trading rules and methods used by the best traders in the game, traders who have mastered the best trading rules and market timing.
Like the saying goes, “to be the best, you have to learn from the best”.

Mind you, these traders are not magicians. They simply grew in experience to the point where their gains far outweigh losses. But they do make losses sometimes like any trader does.
Stock traders and forex traders, like any other exchange market trader, are risk takers because of the volatility of the market. 

All the money you have made can flash before your eyes in split seconds and they are gone.

Some of the most successful traders to learn from are:
  •  Jesse Livermore: his name was synonymous with colossal gains and losses. He made $million in 1929 and by 1934 he had lost all of it. One good example that confirms the huge risk involved in stock trading.
  •  George Soros: is one of the history’s most successful stock trader. He gained the nickname “the man who broke the bank of England” when he made $1 billion profit from selling $10 billion worth of pounds. He is the chairman of Soros Fund Management.
  •  Richard Dennis: is a successful commodity trader based in Chicago. He made an estimated $200 million over a period of ten years from market speculating.
  •  Paul Tudor Jones: became famous after during the market crash of 1987 for making a whopping $100 million from shorting stocks. He is the founder of Tudor Investment Corporation.
  •  William Delbert Gann: developer of technical indicators like Gann Angels and the Square of 9 he was a trader who used market forecasting techniques based on astrology, geometry, and mathematics.
  •  Bill Lipschutz: he turned $12000 investment in the stock market to $25000 in a few months but lost all of it. He then moved to forex where he has made over $300 million.
  •  John R. Taylor, Jr: he started as a political analyst for a chemical bank before becoming their forex analyst. He is the owner of FX Concepts, which is a currency managing firm.
  •  Stanley Druckenmiller: his remarkable story started as an oil analyst for the Pittsburgh National Bank. He was a part of a deal while working at George Soros that raked in $1 billion.
  •  Andrew Krieger: he sold kiwi, a New Zealand currency at a price that was more than the total currency supply. He got revenue of $300 million from the deal.
This one is important. For example – do you:
  •  Like trend lines – find a way to trade with them
  •  Like fundamentals – form a strategy around fundamentals
  •  Like moving averages – build a strategy with them
  •  Like to identify support and resistance zones – form up a strategy around zones
Trading a random strategy you just found will not give you any further edge in the markets.

Remember that there is no holy grail out there. No trading method will always work, and you will not earn money to simply take a trade when the MACD crosses or stochastic is oversold. 

The best traders spend the time to learn a strategy that suits them, build a trading system and has patience building the confidence to trade with no fear.
The best traders never trade on emotions, tips and whatever catches their attention, because they know it does not work in the long run. The best and consistently profitable traders have a winning trading plan, plan their trades and then trade their plan. So should you.

You want to benefit from preparing, therefore, execution of your plan is key.
The best traders take complete responsibility for every action they take, every decision they make. The best traders never blame someone else or something else for the consequence of their failure.

When something goes wrong the best traders accept responsibility.

This is how it is; you are going to make mistakes, accept that fact, take responsibility, and learn from them.
I know many traders that cannot figure out why they do not have the returns they know is possible for them to have. I have tried to explain to them that they need to track what they are doing to identify bad habits.

Without a trading journal where you track your trades, it is hard to remember exactly what made you act in a certain way at the time.

The best traders track their trades that enables them to learn from every trade and thereby advance as a trader so they can make more money.

Tracking your trading does not have to be complicated. Use a simple Excel document or pen and paper where you write down the security, date, price, your stop price, setup, and your thoughts.

When you close your position you write down the date, price if you followed your rules, gain/loss, and your thoughts.

Simple as that!
Success is so much more than being a profitable trader. You can not neglect:
  •  Health
  •  Wealth
  •  Family
  •  Love
  •  Lifestyle
  •  Spirituality
The best traders keep a balance between these; they know focusing on only one of these does not equal success. But maintaining balance is not easy, there are times when your focus is on other areas and trading is neglected.

This is part of your life’s journey.

To become the best trader you can be, define your goals in these areas and then you have a direction for your life as a trader.
the scarier the trade is to take, the better is most often is. That is why professional traders have developed courage in themselves and their trading plan to always take their trades.

The time to buy when there is blood in the streets. – Baron Rothschild
If I had to pick a number one rule in trading, this is certainly a good candidate. It might not be the most important trading rule, but it is a good first one. Try not to get way down, money-wise, right from the outset when starting out trading (can also be when you return from a vacation).

It is not fun if you have to spend days digging yourself out of a hole you got yourself into in the early days of trading.

Start slow, observe and practice on a demo account. Give yourself time to watch the flow of the market and see how it reacts to news and reactions in order for you to get yourself into the feel of it and the rhythm of it.

The trading rule of avoiding doing anything flashy until you get into the flow of things is not limited to trading; it is an idea you can see in all businesses. Trade conservatively until a rhythm develops that you can recognize and exploit, and THEN join in. Do not be greedy and get yourself stuck early.

But how do you avoid digging yourself into a hole?

Have a risk management strategy.
If You Think You Are Wrong, Get Out
This rule is for some reason easily forgotten or ignored. You cannot be right with your market timing all the time. If you are wrong, get out. Listen to that little voice in your head telling you that you are wrong.
I have heard traders say, “I know I am wrong” – as they continue to hold on to their position and lose money.

If you are wrong, get out. Listen to that little voice in your head telling you that you are wrong.I have heard traders say, “I know I am wrong” – as they continue to hold on to their position and lose money.
I have heard traders say, “I know I am wrong” – as they continue to hold on to their position and lose money.

Hanging on (and on, and on) to a trade is where a lot of the money goes.

Generally, as soon as things start to go wrong in your trade, you are better off closing the trade. Do not hang around hoping and wishing (I will wait just one more day… and one more… and one more…”).

Meanwhile, new setups with high edge occur continuously. At the first sign of being wrong, GET OUT.
Never trade with borrowed money.

It also should go without saying that the money in your trading account should not be allocated for paying the loans, bills or other important obligations you might have. You must be prepared to lose all the money allocated to your trading account.
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Johan Nordstrom Professional Trader Risk Management
I'm a family guy in my late 20's who learned how to trade the markets in a simple yet effective way. During university I studied investing and graduated with a master's degree in risk management. Quickly, I realized that I was onto something. I started helping friends and taking students. My students started getting results, spent less time in front of their screens, and their accounts grew consistently. Learn more about me here.
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