Rules to live by for a Trader...Trading Rules!!

Discussion in 'Trading' started by gimp570, Jul 10, 2007.

  1. The single most important factor for me was limiting my trading. When I trade futures I limit myself to three round trips a day. You'd be surprised how many junk trades you make when you do not limit yourself. When you put a limit on yourself you only take the best setups and many times your day is finished before noon.
     
    #21     Jul 11, 2007
  2. dhpar

    dhpar

    that sounds great but what do you do when you see 4 great trading opportunities?......
     
    #22     Jul 11, 2007
  3. I miss the opportunity. I can live with that missed opportunity because there is another one just around the corner.
     
    #23     Jul 11, 2007
  4. Number 1 rule.......Fade Blackguard's swing trades. 100% winners.
     
    #24     Jul 11, 2007
  5. The attached is rather specific.

    John Carter has an Appendix in one of his books. He list 40 tips for maintaining a professional mind.

    His tips and most of the posting are in the same vein.

    Rules to live by is a fun thing.

    Trading rules may be somewhat different. So is getting to the point of having rules.

    I attached two dozen and they also show the interdependance of rules.

    It is worth noting that there is a kind of downside for a lot of people who get into trading. When they start and then get involved, they, at first, may not recognize the consequences of what they are doing along their paths.

    These consequences do become apparent in how people post, and behave. This is a great thread for bringing these consequences out. Some aspects of these consequences make it hard for communications to occur.
     
    #25     Jul 11, 2007
  6. Well i had a $10 K acount and i use to day trade and my 1 days loss was $2500 trading 10 contract
    Then i limited my self to only 2 contract and now i am doing good cause i dont over trade and i try to make the best trade possible
     
    #26     Jul 11, 2007
  7. gimp570

    gimp570

    Sure experience is big...but it is good to have a list of DON"Ts....that you should never ever do...


     
    #27     Jul 11, 2007
  8. What do you do then if you are done by noon?
     
    #28     Jul 11, 2007
  9. Say what?:confused:
     
    #29     Jul 11, 2007
  10. Manni

    Manni

    It can either go UP or DOWN, dont hesitate, just pull the trigger. As long as you have done your homework and put your stops in place.
     
    #30     Jul 11, 2007