Never add many positions with a losing trade. In adding to a losing trade are already to lose more. Adding to losers makes you a counter trend trader that will eventually end badly when you find yourself on the wrong side of a strong trend.
Never lose more than 10% to 20% of your trading capital on any one trade. This means use position sizing aligned with stop loss placement so when you are wrong the loss is not big enough to damage you financially, mentally, or emotionally.
Never trade anything you do not understand 100%. Do not trade in high volatile commodity product like gold until you understand the risk and how they work.
Trade in the direction of the trend in your trading time frame.
Only look for low risk/high reward trades or high probability setups, when you don’t have any signals, don’t trade.
Trade based on your plan, your system, your signals, the chart, and price action, not your own opinions, bias, or predictions.
You have to trade the right winning methodology that you are comfortable with that fits your own personality.
If you do not have a full trading plan with rules on entries, exits and risk management stop trading until you create one.
Learn From Every Trade: Tracking your trading does not have to be complicated. Use a simple Excel document or pen and paper where you write down the Commodity symbol, date, price, your stop price, your thoughts and experience with reasons of loss.
Protect Your Trading Capital with minimum loss: The stop loss can be either a particular amount or percentage, but either way it limits the trader's exposure during a trade. Using a stop loss can take some of the emotion out of trading, since we know that we will only lose X amount on any given trade.