i believe this is A MUST for any forex trader

[MazenMelhem]

These Commandments for discipline in trading (currency or stock trader) should improve your trading success if adopted and followed. They were developed after years of experience from trading in the stocks, Forex, and option market and from reading hundreds of books and filtering the essence of knowledge from each, and from continuous research and study of the markets as well as analyzing trading signals to learn from the professional traders.

1) Trade free from fundamental problems. My advice to you is not to judge a stock or a currency or a pair. Don't try to explain a losing position, or love a winning one. A winning position may have its "Fundamental Truths," but the "Absolute Truth" is the price.

2) Focus on the proper strategies for trading, and not on making money. Trust me, money is merely a result of skill level, or lack thereof. As long as you trade with continuous discipline, don't review prior trades with a "should have" way of thinking. Both winning and losing trades should be reviewed during your journey towards mastering trading. If you receiving recommendations, don’t question a loosing position, you need to understand that loss is part of the business, no one wins every time.

3) Develop a consistent trading style with your personality and philosophy. You must trade on your nature, if you are a risk taker then find a strategy that matches your strategy by calculating your risk, or if you are risk averse, reduce your targets and increase your entries!

4) Decide the reward-risk ratio of each trade before entering. It doesn’t make much sense to me, risking the farm to make peanuts. Create the plan only BEFORE the trade!

5) Sometimes the best action is no action. Only fools think that they must trade every day. Pace yourself, take your time to find the RIGHT trade, take it from someone who’s in the market, trading a lot is risking a lot.

6) Trade along the trend since stock prices flow in the direction of least resistance. If a stock goes against your trend then get out. When in doubt, stay out especially in the forex market.

7) There are no emotions in trading. Disciplined traders can watch the market from the perspective as if they are not in a position, even when they are. Do what the market is telling you, not what you think it is right. If you are unable to separate your emotions from your trades, there is always the option of registering to a service that will send you trading signals or even manage your account.

8) Make the market come to you. If it doesn't play "as you wish," step aside. Be disciplined, and be patient, and never trade when physically or mentally disturbed.

9) The true battle is not against the market, but learning how to control your own emotional out bursts, psychological demons, and human nature. Many internal battles of letting fear and greed control logic and discipline which unfortunately result in painful losses will be needed in your trading maturation process.

10) There are no "holy grails," magic software to success. Professional traders never stop being students of the markets. Spend time daily developing your skills to be a better person and trader, and take responsibility for your own trades and actions.

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[DrForex]

Thanks

While this is generally good advice I make this point. Very little of what may be very valuable in stock market trading (winning stock market trading) is applicable in forex market trading. As you sayu\ the bottom line is price behaviour and the characteristical price behaviour in these two markets are 100% different.

While you may be and some others proficient in both these markets there are a majority of so-called professional stock market traders who came to the FX market since 2002 (the thousands of hedge funds and hteir newly graduated junior traders, analysts and what not else) and they have no clue. Also many that came form the stock market full of themselves and 1999 bull market skills and they got murdered in the FX market.

I also believe there is a lot to be said for emotional trading. In stead of trying to side step the emotions with rigid but mostly mathematically flawed money management systems you should embrace the volatility and randomness as well as its affects on you in this market. It is inevitable and part of fx trading live. Embrace it and profit from it.

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[goforexgo]

Great list of do's and don'ts
The point 8 took me some time and burned accounts to understand.