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Five Trading Strategies Protecting You from Losses
Spot gold XAU rose 0.1% to $1,950.46 per ounce by 0049 GMT, after hitting a peak since Nov. 9 at $1,952.98 earlier in the session. U.S. gold futures was flat at $1,954.20.To get more news about WikiFX, you can visit wikifx official website.
Silver XAG shed 0.1% to $27.55 an ounce. Platinum XPT fell 0.7% to $1,103.57, while palladium XPD eased 0.5% at $2,455.29.
Following is a set of trading solutions edited by WikiFX that protects you from losses.
Each day get a money-making strategy on WikiFX (bit.ly/wikifxIN)
1. Trading rules
1.1 Only trade the dominant contracts, the most active category in the market.
1.2 Go long during early trend stages, sell high and buy low during mid- trend stages, and go short during late trend stages.
1.3 To sustain profits rather than maximize them.
2. Rules of fund management
2.1 Retractions of trading capital must be no larger than 10%.
2.2 Never add positions nor amortize costs counter to the trend.
2.3 Increase positions if you could keep abreast of the changing market, otherwise exit it or speculate it only by a fraction of your positions.
3. Rules of adding positions
3.1 If the market turns different from your expectations after you enter the trade, stop loss and leave it.
3.2 Add positions if the market runs as expected and if the first entry wins you a profit.
3.3 Add positions at key retracements, breakout points, or inflection points.
4. Rules of risk control
4.1 Once there is a trade, there is a corresponding stop loss.
4.2 Set stop-loss orders based on significant resistances, supports, trend channels, or capital percentages.
5. Rules of the trading period
5.1 Hold positions no longer than three days for short-term tradings, while no longer than 22 days for medium-and-long term tradings.
5.2 If you earn a target profit in advance, liquidate your positions on the day. |
