[3].Don't predict the market ,react to current market situation.
This is what that cost me blew a lot of my trading capital. Always wait for trend direction and follow the trend , As they say... trend is your friend until it's finished.
making prediction is the most important because you cannot react in the current situation of the market if you didn't speculate the market very well, wherein in order to have good prediction..
And even you follow the trend as long as you don't have enough idea or should i say information what will be the next move of the market base on your technical analysis it is useless and surely can blew your account afterwards..
So don't just follow the trend, learn to how to make a proper technical analysis as well because it's a big advantage.