10 rules of trading

1. Change a "consumer" mentality to an "investor" mentality

Don't just sit and wait for others to bring you what you desire. Learn to catch the fish instead of waiting for the moment when it appears in your pound.

1. Treat trading as an investment, not an ability to "win a jackpot"

Financial markets like those who are eager to learn how it works and punish those who want fast and easy cash.

1. Let your profit grow

Ability to close trades when it is time is worth mastering. Professional traders never close a position if their trading system shows a positive trend. Close trades and take profit only when the market signals to do so.

1. Enter the market only when your analytical tools show the appropriate moment

And don't do so when you just want to buy something fast. Trading is an art of waiting for the right moments.

1. Learn to show stable results. Don't chase huge profits

It is better to earn 20% monthly than 200% in a single day. Remember that such surges are usually followed by strong rebounds.

1. Don't withdraw profit as soon as it comes

Invest your profits in the following trades. Regularly withdraw free funds. For example, do it once a month or quarterly. Ideally, you need to reach such account balance, which would allow you to live off your trading profit while keeping your balance intact.

1. Open an additional account with your broker and transfer part of saved profit there

Just like a bank. Don't forget that your trading system is wired for a certain account balance. Make your money work by purchasing shares. They will give you 15-20% annual profit, which is hardly undesired.

1. If you a novice, don't be ashamed to learn

Brokers offer demo accounts for a reason. Train for a couple of weeks, estimate your broker's analytics department. Ask questions when something's unclear. It needs to be done prior to investing own funds. Brokers are interested in a long-term collaboration with you, same as you.

1. Go through verification process when registering

Ask your manager which documents are needed and provide them (usually digital copies are accepted). It will ensure a fast and easy funds withdrawal process. Verification is done to ensure the security of your funds.

1. The unspoken rule regarding funds withdrawal - don't withdraw more than 40%

Of course, you can withdraw everything, but then it is not about enlarging your capital. If you started to trade, let it become a part of your life, and then — your main source of income.