Can You Follow Your Forex Rules… Just Once?

Serious Challenge for all Traders

Follow me on twitter to join the challenge. Also RT this post so that others can join with us.

Traders need to have a set of Forex rules to follow to give them a guide in their trading. Without a guide you will wonder aimlessly through your trading giving away your money as you go.

Many traders have no plan and no rules, those are not traders, they are gamblers. What about you? Are you a trader or a gambler? I get emails all the time from people telling me that they lost all their money and they need help.

The first question I ask is do you have a plan? The standard answer is no. So my response is get a plan. I am not going to discuss that here but I have previously discussed trading plans here and on my other blog at forex4noobs.com. If you don’t have a plan or strategy, you can get one by signing up for my newsletter, I have some that you can download.

We have established that you need rules  and now I am going to ask you a question. Can you follow your Forex rules just once? I have good news for you! If you can do it once you can do it twice. If you can do it twice you can do it 10 times.

What I am going to do :

  • I am going to post 10 trades here on this blog.
  • I am going to follow the rules for 10 trades and log the results.

My challenge to you:

  • Follow the rules on 10 trades.
  • Do not adjust, but follow the rules.
  • Then log the results here on this blog.

If you can do that then you are taking a great step to becoming a great Forex trader. I am willing to take a stand here and say that if you follow your rules you will do well. If you do not do well while following your trading rules then you will at least know that your strategy needs some adjustments. Which is still a great place to be.

Are you up for the challenge?

I am up for it, come join me in taking steps to becoming great. I think this is going to be fun, helping people make a great new leap in their trading. Please comment below if you want to take part in the 10 day challenge.

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  • Nodieze

    Thanks very much for efforts.I will be in with you.

  • Forex

    Este Viernes 27 se estara realizando un Webinar sobre Cuentas Gestionadas de Forex http://grsnip.com/0M1A

  • http://pulse.yahoo.com/_AS7XUFHR5C3E4VSAGOV5WTDFNQ Carla

    Is it too late to hop on board this challenge?

  • SMALIK

    OK LETS DO IT

  • Zecco

    Can I still be part of the challenge? Because I’m in.

  • Dedan

    Yes i want to participate in the Challenge

  • Chin

    I'll take up your challenge. But I do not have a workable strategy, may I know where can I download your newsletter and some of your stategy that you mentioned?

  • Eyitope Owolabi

    count me in for the challenge

  • Gerardo

    Hi Casey, good idea… I am in, count me please.

  • http://www.winnersedgetrading.com caseystubbs

    It wont be difficult becuase I am going to be opening many posts along the way that will explain everything.

    Thanks

    Casey

  • Harry

    I'm up for the challenge Casey. I think it will be very helpful to follow the plan of a sucessful trader.

  • http://www.winnersedgetrading.com caseystubbs

    Great

  • http://www.winnersedgetrading.com caseystubbs

    Great we all need to improve our skills

  • http://www.winnersedgetrading.com caseystubbs
  • http://www.winnersedgetrading.com caseystubbs

    This could help you to learn your discipline.

    Thanks

    Casey

  • http://www.winnersedgetrading.com caseystubbs

    Rick I think this will help you

  • http://www.winnersedgetrading.com caseystubbs

    Thanks Kola

  • http://www.winnersedgetrading.com caseystubbs

    I am series in helping those that are serious

  • http://www.winnersedgetrading.com caseystubbs

    Thanks Muzz

  • http://www.winnersedgetrading.com caseystubbs

    Bill this could work out for you if you can master the basics.

  • http://www.winnersedgetrading.com caseystubbs

    Antonio you wont regret it.

  • http://www.winnersedgetrading.com caseystubbs

    Johan that is fantastic.

  • http://www.winnersedgetrading.com caseystubbs

    Thanks

  • http://twitter.com/shinobi_brian Brian Wright

    I am in.

  • http://www.winnersedgetrading.com caseystubbs

    Phil,

    I will be attempting to make some trades during all sessions but try to follow. Thanks

  • http://www.winnersedgetrading.com caseystubbs

    Top Trader this is great

  • http://www.winnersedgetrading.com caseystubbs

    Mike,

    You are making the right decision thank you for sharing your story with us. I believe now is the time for you to make it happen.

    Casey

  • dwt

    In among all the “count me in” and “thanks for your response” posts it's going to be difficult to follow the actual trades you are posting and your reasoning for each. Is there a summary blog here somewhere?

    Thanks in any case for your concept. You appear to have struck a nerve here.

  • Mwylm

    Thanks.. I'm in :)

  • Taimoor Bangash

    Hey Casey I am in I need some desciplining :)

  • Jxhayek1

    U've just posted ur 1st trade long GBPCHF @165.90.and ur rules are?

  • Flair

    Yes, I want to take part in the 10 day challenge. I have studied for 6 mo but really feel I need something to jump-start me. Maybe this is it.

  • Rick

    im following, lets go, rick

  • Kola

    i'm in – this should be good for me. I do not tend to stick to my trading plan..

  • Adewaleawotayo

    am seriously interested

  • Muzz

    Count me in and thank you for your offer.

  • Bill Hawken

    Casey,
    Thanks for the offer, I'm up for it. I appreciate the fact that you want to help us improve our trading. My goal is to become an independant trader since I can no longer work in construction due to a back injury and my age. God bless you for caring!
    Bill Hawken
    billhawken@comcast.net

  • Antonio

    I would like to participate. You count me in.
    Thanks
    Antonio

  • Johan

    Casey,
    I like to be counted in for the challenge.

  • shafiq

    im in

  • http://www.winnersedgetrading.com caseystubbs

    I would be very much interested in learning about your scalping plan. If you want to share that would be great of you.

    thanks

    Casey

  • http://www.winnersedgetrading.com caseystubbs

    I believe in you and I want you to believe in yourself because you can do this.

  • http://www.winnersedgetrading.com caseystubbs

    You are now counted in.

  • http://www.winnersedgetrading.com caseystubbs

    Try and you will succeed.

  • http://www.winnersedgetrading.com caseystubbs

    Fantastic

  • http://www.winnersedgetrading.com caseystubbs

    Excellent

  • http://www.winnersedgetrading.com caseystubbs

    Walter If you have any questions in the future do not hesitate to ask.

  • http://www.winnersedgetrading.com caseystubbs

    Great

  • http://www.winnersedgetrading.com caseystubbs

    Wade,

    Thanks for the comment.

  • http://www.winnersedgetrading.com caseystubbs

    That will still work Helen because it is your next 10 trades you can keep taking them when you get back.

  • http://www.winnersedgetrading.com caseystubbs

    That is good that I can motivate you to keep on course

  • http://www.winnersedgetrading.com caseystubbs

    You are welcome Roger.

  • http://www.winnersedgetrading.com caseystubbs

    Lets start today, I will explain everything clearly in the next post.

    thanks

    casey

  • http://www.winnersedgetrading.com caseystubbs

    Thanks John

  • http://www.winnersedgetrading.com caseystubbs

    Phil,

    The person I described in the opening statement was me. but I guess many of us do the same dumb stuff.

    Lets see if we can change that losing streak.

  • http://www.winnersedgetrading.com caseystubbs

    It is great to have you.

  • http://www.winnersedgetrading.com caseystubbs

    Thanks Steve From Australia

  • http://www.winnersedgetrading.com caseystubbs

    Thats right I dont want you guys following me but rather fishing for yourselves.

  • http://www.winnersedgetrading.com caseystubbs

    Thanks for making a comment.

  • http://www.winnersedgetrading.com caseystubbs

    Kimbo,

    It is great to have you participating in the community.

  • http://www.winnersedgetrading.com caseystubbs

    Thanks Adrian :)

  • http://www.winnersedgetrading.com caseystubbs

    Vernice,

    I am looking forward to hearing your good report.

  • http://www.winnersedgetrading.com caseystubbs

    I have a good friend from the Show me state so I know where you are coming from. I believe that showing and doing is the best way to learn.

  • http://www.winnersedgetrading.com caseystubbs

    I would love to have you take part :)

  • http://www.winnersedgetrading.com caseystubbs

    Never Give Up!

  • http://www.winnersedgetrading.com caseystubbs

    I will post my rules for sure but if you guys have some rules you can trade those also.

    thanks

    Casey

  • http://www.winnersedgetrading.com caseystubbs

    I am glad to hear it.

  • http://www.winnersedgetrading.com caseystubbs

    I got you down.

    Thanks

    Casey

  • http://www.winnersedgetrading.com caseystubbs

    Great Kevin,

    thanks

    Casey

  • Nery

    My rules are simple but only for scalping. 40 to 50 pips a day and I am done. I hope you can teach this old dog new tricks. I'll be in with bells on.

    Nery

  • Patricio

    You said it definitely right!!! I'm here to accept any challenge that makes me grow up like a good trader. I believe in you. I really appreciate your effort to helping us

  • Kohwk

    count me in

  • Anne

    Will give it a try

    Anne

  • Traderk

    This would be great

  • Sineth

    me too….

  • Walter V D H

    Hi Casey,
    Nice initiative. Finally a pro trader who stands up for the unsuccesfull or average trader that struggles to make it in the market. Looking forward to join your program to finally achieve my goals in trading the forex market and learning from someone who master it
    Thanks

  • Msad

    Yes, I like the idea – will follow your rules

  • Wade

    I would be greatful to learn as I go, I think following a plan is much better then failing to plan. Looking forward to being part of this program.

    v/r
    Wade

    c30sbfd@yahoo.com

  • Helen

    Yes, I like the idea – will follow your rules, although I shall be away for 3 of the 10 days.

  • http://twitter.com/corvette70 Shirley Stephan

    I AM LOOKING FORWARD TO STICKING TO A PLAN BUT MORE THAN ANY PLAN BUT YOURS. I TRULY BELIEVE THAT I AM GOING TO BE A BETTER TRADER WITH HAVING A TRADING PLAN AND STICKING WITH IT. THANKS CASEY FOR ALL YOU DO.
    SHIRLEY

  • http://twitter.com/corvette70 Shirley Stephan

    I like many have trouble sticking to a plan and then wonder why I keep losing. I signed up to your website about 6 months ago and truly believe that you can make me a better trader so I will follow your plan to a T and not go off course. Thanks for all your help.
    Shirley

  • Roger Newman

    hi, please add me to your list to take part in your trades – thanks Roger

  • Beelyjay

    Am Intrested Casey when do we start??? and what do I need to do?

  • John Bowling

    Great idea

  • Phil

    Yes Casey I am probably one of the ones described in your opening statement . If you are able to do some trades during your london sesion I should be able to follow, thanks so much
    I followed on the kiwi trade you posted here but still manged to get stopped out, thats five losing trades in a row .

    Phil .

  • TopTrader

    I'm In and will follow the rules.

  • Mike Ol Y

    I have lost too much money because I initially don't have a plan, now I gave myself rules that I do not follow, I make money then I shed it off my account as soon as it came, I get a margin call all too often, and all too soon, my account gets knocked off and I have to refund my account only to get another margin call. Now it must stop, I must make money, keep it, and swell my account. I must be among the most successful forex traders, but I must change my attitude. I will follow my rules, I will learn.
    Cassey, thanks, am in.

  • WG

    This is great. I am in.

  • steve123

    Hi Casey,
    I'm up for the challenge. Thanks for your ongoing input for new and veteran traders. You willingness to share your experience is invaluable.
    GB.
    Steve (from Australia)

  • Sheraad

    teach me how to fish, thank God for people that beleive in giving back. We are blessed to bless.

  • RHEMY

    ALL WANT SOMETHING MORE. BUT I WANT MY LIFE IN THE MAXIMAL. I am aware RISK IN FOREX. NEVER FEEL 350% PROFIT MORE THAN A MONTH. AND MISSING IN JUST 2 DAYS. LEAVE BECAUSE THAT MAKE MY OWN RULES THAT. POSSIBLE BECAUSE OF THE NATURE OF HUMAN being greedy. HERE I HAVE to be reminded. THANKS FOR EVERYTHING.

  • Kimbo4x

    Once again, Casey, you are giving us a “winning edge.” Of course, count me in, and I look forward to getting a copy of your rules and implementing them.

  • Adrian

    I will join you.

  • Vernice

    Hey Casey,
    Thanks for your contribution so far. This is a great idea to make us follow our rules and not our emotions which always lead to my failing trades. Please count me in!

    Cheers
    Vernice

  • Dan

    I am a natural skeptic, sort of the from Missouri syndrome. That said, if you stop trying to learn you will stay stopped! So count me in as well

    Dan

  • Cathy

    Casey thank you so much for offering this challenge. I would love to take part.

  • Aytaç Aşan

    Yes I have a lot of rules. Am i follow this rules? Of couse not:( This is the reason that i'm average trader not proffessional. I want to join you for try again and again and again…

  • Jorge Sangorrin

    Hi Casey, Jorge from Uruguay, count me in, post your rules and rationale to clone your trades, I'll post 10 of mine, good luck!

  • Wellsx

    I will take on your challange

  • Pupsdad

    Put me down

  • Dgib1038

    Hello Casey,

    Im up for the challenge. I will give it a shot.

    Thanks,
    Kevin Gibson

  • Adiel Khan

    Thank you Casey

  • http://www.winnersedgetrading.com caseystubbs

    I appreciate the comment and you are welcome :)

  • Ren

    I'm up for it your guidance is greatly appreciated

  • http://www.winnersedgetrading.com caseystubbs

    Neville,

    It wont matter at all because you can post your trades when you are trading. In your time zone. My blog is always open.

  • Neville_rita

    Hi casey im going to do it to hope my sleep time here in nz dosent interfere to much, thanks,
    neville

  • http://www.winnersedgetrading.com caseystubbs

    Human beings tend to follow a habit pattern. The key is to create new habits and new patterns. I believe that you can do it.

  • http://www.winnersedgetrading.com caseystubbs

    Thanks for participating

  • http://www.winnersedgetrading.com caseystubbs

    Thanks Lawernece

  • http://www.winnersedgetrading.com caseystubbs

    Yannis, it is not magic, it is hard work and discipline and patience. Thanks for coming by and come back for additional information.

    Casey

  • http://www.winnersedgetrading.com caseystubbs

    Helder ,

    I always apreciate your thoughtful comments and thanks for sharing an additional resource.

  • http://www.winnersedgetrading.com caseystubbs

    Great Stro thanks for joining with us.

  • http://www.winnersedgetrading.com caseystubbs

    Alex, I hope for your sake that the pair turns around. I however recommend that you put a stop loss on at a reasonable level. Because sometimes a pair will run and run taking you into a margin call. It is painful to take a loss but it is part of trading and once you learn to take losses it is then that you will learn to be profitable.

    I edited your comment above with the correction that you indicated.

    Thanks for coming on board and I hope this is a benefit to you.

  • http://www.winnersedgetrading.com caseystubbs

    Thanks Dave great name D adventures.

  • http://www.winnersedgetrading.com caseystubbs

    Great to have you with us and I am following you on twitter now.

    Thanks

    Casey

  • http://www.winnersedgetrading.com caseystubbs

    Mike thanks for the comment and I appreciate the participation.

  • http://www.winnersedgetrading.com caseystubbs

    Mike, you are absolutely right trading is a business. In business and in life we must have a plan.

  • http://www.winnersedgetrading.com caseystubbs

    Great to have you on board.

  • http://www.winnersedgetrading.com caseystubbs

    Thanks Adiel

  • http://www.winnersedgetrading.com caseystubbs

    Hello martin thanks for visiting and come back for all of the updates later.

  • Ahmed Elsharkawy

    Thnk you , and count me one of the traders who are ready to take the chance to start the challenge , I always make a plan , but my real problem that I can't keep myself working on the plan more than a month then I start to take somew trads without plan.
    So I am here to learn how to make myself a good trader for more than a mont :)

  • Soccerhed

    OK, I;m in

  • lawrence onome

    yes i will be part of the trading rules

  • http://twitter.com/yannisch999 Yannis Chatzivagelis

    Thanks Casey for opening the doors of your magic world of being a successful trader.

  • Helder

    We all know deep down that we need a plan, but what most of us don't understand, and believe me it took me a while to understand it myself, is that a plan isn't just a set of rules for us to follow. It goes much deeper than that. Casey knows it, and that is the reason why he stressed it time over time.

    Recently I came accross a very interesting and enlightening book:

    “Enhancing Trader Performance: Proven Strategies From the Cutting Edge of Trading Psychology” by Brett Steenbarger.

    Easy to read, this book will, once and for all, put to sleep the idea that trading is “easy money”. It breaks down, step by step, point by point the learning process that every serious wannabe trader needs to take in order to become a full time successful trader. The author uses many real life examples to help the reader understand each step of the way. I believe it to be a must read for anyone who is considering to become a full time successful trader.

    Happy trading!

  • Stro

    You can count me in!

  • Alex

    correction: SHORT

  • Alex

    I have a trading rule deep ingrained in to my brain saying never allow your stop loss to be hit. I am following this rule with a great discipline and miraculous precision. Now I am -300 pips on GBP/USD long. Clearly I am in the wrong train without brakes. Suicidal. I know. I would like to get an experience to be WITH you Casey in the same train, where we are going to board and exit at the same stops. It will be a pleasure. Please take me in. Thank you. Alex

  • Ddventures30

    count me in tks .Dave

  • http://twitter.com/eioprofits Extra Income Online

    I would love to join in on this!

  • Mikefarrell8

    Hi Casey

    Ready for the challenge.

    Mike

  • Mike

    count me in! I cannot stress how important trading plan is, if we take this as a business!

  • Vinomaker

    sure thing, let's do it!

  • Adiel Khan

    Im up for it

  • http://bit.ly/MqEve fxretracer

    FYI …”…actually waiting for a setup that fits your rules…” …refers to any set of rules, not Casey`s rules per se as it might have sounded

  • http://bit.ly/MqEve fxretracer

    for me this is the hardest part, actually waiting for a setup that fits your rules. As time goes by, I realize it can take a very long time waiting, much longer than I want to wait thats for sure.
    On a setup for the daily for example…it can days to find a good trade.(pun intended)

  • http://twitter.com/martinwmksystem Martin Koorts

    Hi Martin from South Africa, count me in

  • http://www.winnersedgetrading.com caseystubbs

    This is great all the feedback. I am so humbled by the incredible response.

  • http://www.winnersedgetrading.com caseystubbs

    Lets have fun and lets make money :)

  • http://www.winnersedgetrading.com caseystubbs

    Thanks for visiting all the way from Colombia, I feel so special. I hope that we will do well trading together.

  • http://www.winnersedgetrading.com caseystubbs

    Thanks Dan

  • http://www.winnersedgetrading.com caseystubbs

    Michael there are many good people out there helping out. I just happen to be one of them.

  • http://www.winnersedgetrading.com caseystubbs

    I hope that this can help you out in your trading. I will be keeping you posted.

  • http://www.winnersedgetrading.com caseystubbs

    Great I think this should be a great experience all the way around.

  • http://www.winnersedgetrading.com caseystubbs

    Thats right we are not going to break the rules

  • http://www.winnersedgetrading.com caseystubbs

    Check back tomorrow or Monday for this to start.

  • http://www.winnersedgetrading.com caseystubbs

    It should be fun to see what happens I am wishing you the best.

  • http://www.winnersedgetrading.com caseystubbs

    Judd,

    Thanks for he comment, I have faith in you. You can do it.

  • http://www.winnersedgetrading.com caseystubbs

    Thanks

  • http://www.winnersedgetrading.com caseystubbs

    Thanks Robert, check back tomorrow and I will be adding some updates.

  • Stephane

    hi Casey, count me in !

  • Omarmutis

    You can count me in! let´s have fun!

  • Pamateriales

    Hi Casey, Francisco from Colombia

    I am up to it, thanks for everything, looking to get the most of it.

    Bye

  • Dan

    I'm in. Looking forward to your trading rules

  • Michael

    Count me in! Thanks Casey, I look forward to your advise. You seem to be 1 of only a few professional traders that truly want to help us non experienced traders.

  • Ringram38

    Thanks Casey, keep me posted. Your mission statement is most appreciated. Just started trading full time. I am blessed to get a couple of small checks from Uncle Sam and mother church. Success with the eur/$ made me think I was a financial genious when the eur was falling. Now, I need a plan to follow with discipline and patience. So count me in.

  • Jaypee59

    Casey, I am IN and want to follow the rules. Tnx

  • Kenkiarie

    I am in!Break your rules,get burnt.

  • Joseph R.

    Hi Casey. Thank you for your direct comments concerning Trading Plans! First, to be totally honest with you as well as myself, I do not have a Trading Plan. Many times I have heard about the “need” to have one but never help to put a plan together. I accept your challenge and I hope your readers will also accept your challenge, however that is each persons choice. When does the challenge begin? Again, thank you Casey.

  • Samson

    Yes count me in 4 the challenge. i get you, lets follow rules just 4 once and see the outcome! this is a good Idea casey, keep up the good work

  • Judd

    yes i have been saying for 15 months and 3small accounts since i am going to do this, im in Judd.

  • Ovyeh_a

    Casey

    Great article, 'm up for the challenge.

    We see on monday.

  • http://twitter.com/celtic_mist Robert Best

    I am up for it!

  • http://www.winnersedgetrading.com caseystubbs

    Sir,

    I disagree this time is not wasted this time is well spent because this is making a difference in peoples lives. Yes God does bless me tremendously :)

  • http://www.winnersedgetrading.com caseystubbs

    Val,

    That is good to hear I am looking forward to seeing how welll your trades play out.

    Thanks

    Casey

  • Nodieze

    Yes you rightly said that if you dont plan,then you have planed to crash. Many of us are guilty of this terrible mistake. Thanks for waisting precious time trying to put us aright.God bless all you lay your hands to do.

  • http://www.winnersedgetrading.com caseystubbs

    This is fantastic I thanks for participating. I believe that by participating we are all helping each other become better.

  • Val

    Yes, I would like to participate in your challange. Thanks, Val S.

  • Ethomas2267

    Yes I am in.

    Errol

  • http://www.winnersedgetrading.com caseystubbs

    Excellent

  • http://www.winnersedgetrading.com caseystubbs

    Thanks Bruce I am going to try to find my first trade tomorrow but it might take time because I have to be patient and follow the rules.

  • Michael

    I'm in too.

  • http://twitter.com/opensrcmtneer Bruce Embrey

    Casey, Count me in on this challenge

  • http://www.winnersedgetrading.com caseystubbs

    Joe,

    Thanks for the comment I am looking forward to trading with you I am sure we can both learn a lot.

    Casey

  • http://www.winnersedgetrading.com caseystubbs

    DR. Thank you for your comment. I hope this has great value to you.

  • Joefoo77

    hi joe here. i would like to be counted in for the challenge. thanks

  • Dr. Qureshi

    Thanks a lot for your great step to guide the random traders like me to follow some specific rules in trading and off-course in life also.

    I am using the term random traders, means some time winners & some time losers just you have mentioned gamblers.