1. Keep it simple
Quote from the final chapter (titled ‘What now’) from the book “Technical Analysis Applications in the Global Currency Market” by Cornelius Luca:

"The most significant technical tools are the most basic ones. Major trends and their formations are all that a trader really needs. Once you properly identify them, do not hesitate. Just go ahead and trade. The more refined methods are generally of marginal significance. Use those that you find to be of specific help in monitoring either the health of the trend or its propensity to become exhausted. But do not forget that they weigh less on the technical forecasting scale."

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2. Every Moment In The Market Is Unique And Therefore Anything Can Happen
Because of this even the best looking deal can fail and therefore risk management is the most important element to trading success.

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3. Knowing The Volatility On The Forex Market Is More Important Than Guessing the Possible Direction

Price movement consist of direction and speed. Direction is mostly uncertain but potential speed can be estimated or anticipated with reasonable reliability. High energy buildups and areas result in big breakouts and price runs. Your return on effort is greater trying to finding high energy states (speed) in the market than trying to determine the direction.

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4. Competency At Using A Risk / Return Ratio Is Essential To Trading Success The better the risk / return ratio that you achieve in the market the greater will be your success as a trader. The trader must therefore become competent at placing stops in the best areas and at projecting realistic returns. Discipline to adhere to this is essential.

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5. When Used Together With High Energy Market States, A Trendline Violation Or Bounce Is The Most Reliable Transaction Trigger

This is based on practical experience. Most of the other indicators indicate where the price is moving.

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6. Money Management

A money management strategy should guarantee your long term survival in the market as well as giving you a high probability of above average gains.

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7. Low Emotion trading

Before a trade is activated you should be in a calm and relax state, enabling you to make sane and rational decisions. Assume that when a trade is activated that you are no longer in a sane and relaxed state and that you will not make sane and rational decisions