Read this daily and make money.

Discussion in 'Psychology' started by newguy99, Apr 15, 2012.

  1. newguy99


    Most important rules of trading

    Wait for a buy or sell signal to trade, never try to pick the top or bottom, a strategy based on rules will only work if those rules are followed, don’t try to anticipate and guess when the signal will occur, patience is one of the most important parts of trading, a trade is just a trade like the 100 before and the 100 after, never add on to a losing trade, close the losers and move on, no emotions, now the next trade, look at the big picture instead of a position that didnt do what you thought it would, controlling losses is the hardest and most important part of trading.
  2. Handle123


    They might be the best rules for you. I have a different set of rules.

    Wait for a buy or sell signal to trade, always look for tops/bottoms of moves within my rules. Always add on at every tick against me according the my well backtested/forward traded rules. Forget about the losses, they are part of the game. Learn what your emotions are saying, record them, often times you have to go 180 degrees on certain emotions, use them to your advantage. Controlling losses is not the hardest part of trading, having total faith in all your rules and trade them every single time.