I added additional information on this description!! (UPDATED: 08/25/13)
Use multiple time frames. Identify long-trend, medium-trend, and short-trend. (Up, Down, Sideways, Counter-Trend) Wait for confirmation. For example, Breakouts/Breakdowns, HH...LH or LH... LL, Candlesticks, Indicators. Before trading, do the set ups to get in and out. (Trading Plan) Always trade with the trend until it reverses. Be flexible Raise the stop as prices climb. Accept a loss when stop loss gets hit. No Mental Stops. Place your target on major resistances. Don't chase trends. Use Trading Journal to learn from bad trades. Focus on price behavior and ignore profits. No catching falling knifes. No calling tops. Don't listen to the experts, they are clueless. Treat trading as a serious business. Take 100% full responsibility. Only trade with tools that you fully comprehend. Only bet with money you can afford to lose; this eliminates fear Always bet small, and never go all in. (Risk management)
Day trading No position over night Don't over trade, you don't have to swing at every pitch. Do not take late positions during the last mins of the day. Don't trade options expiring on the same day.
Swing Traders Diversify and hedge to reduce risk. Add to the winners, and cut the losers, because rising stocks can always go higher, and cheap stocks can get cheaper.
STOP trading immediately, if you become emotional compromised. STOP trading immediately, if you are about to break the rules.
Sorry It is a blog not article, but i still highly recommend it.
HenningGurth
⋅
Fundamental info.
I'm agree on almost everything.
Very good post.
metalhe4der
⋅
Good job posting an uncommon but necessary piece of advice for the newer folk. Learnt all these lessons first hand though...guess it sticks better now ;-)