________________________________________________________________________________________ Trading Rules: Don’t Try to Get Even: Drawdowns are a natural part of the trader’s life cycle. Accept them gracefully and stick to the time-tested strategies you know will eventually get your performance back on track. Don't try to make up for a losing trade by trading...
________________________________________________________________________________________ Trading Rules: Organize Your Personal Life: Whatever is wrong in your life will eventually carry over into your trading performance. This is especially dangerous if you haven’t made peace with money, wealth, and the magnetic polarity of abundance and scarcity. Keep your...
________________________________________________________________________________________ Trading Rules: Don’t Fall in Love: If you're too in love with your trading vehicle or investment, you give way to flawed decision-making. It’s your job to capitalize on inefficiency, making money while everyone else is leaning the wrong...
________________________________________________________________________________________ Trading Rules: Use Your Intuition: Trading uses the mathematical and artistic sides of your brain so you need to cultivate both to succeed in the long run. Once you're comfortable with math, you might want to try to enhance results with meditation, a few yoga postures,...
________________________________________________________________________________________ Trading Rules: Avoid Market Gurus: It’s your money at stake, not theirs. Keep in mind that the guru might be talking up their own positions, hoping the excited chatter will increase their profits, not...
________________________________________________________________________________________ Trading Rules: Don’t Break Your Rules: You create trading rules to get you out of trouble when positions go badly. If you don’t allow them to do their job, you’ve lost your discipline and opened the door to even greater...
________________________________________________________________________________________ Trading Rules: Avoid the Obvious: Profits rarely come from following the majority or the crowd. When you see a perfect trade setup, it’s likely that everyone else sees it as well, planting you in the crowd, and setting you up for...
________________________________________________________________________________________ Trading Rules: Don’t Break Your Rules: You create trading rules to get you out of trouble when positions go badly. If you don’t allow them to do their job, you’ve lost your discipline and opened the door to even greater...
________________________________________________________________________________________ Trading Rules: Avoid the Obvious: Profits rarely come from following the majority or the crowd. When you see a perfect trade setup, it’s likely that everyone else sees it as well, planting you in the crowd, and setting you up for...
________________________________________________________________________________________ Trading Rules: Don’t Cut Corners: Your competition spends hundreds of hours perfecting strategies and you’re in for a rude awakening if you expect to throw a few darts and walk away with a profit. The only way to achieve long-term success is with hard work and...
________________________________________________________________________________________ Trading Rules: Stick to Your Discipline: Discipline can’t be taught in a seminar or found in expensive trading software. Traders spend thousands of dollars trying to compensate for their lack of self-control but few realize that a long look in the mirror accomplishes the...
________________________________________________________________________________________ Golden Trading Rules: Waiting for the right trade Many of the traders interviewed said that patience played a big part – waiting for the right opportunity to come along. This ties in with a quote from another classic trading book: “Reminiscences of a Stock Operator”,...
________________________________________________________________________________________ Golden Trading Rules: Become a Student of the Markets Think of it as continuing education—traders need to remain focused on learning more each day. Since many concepts carry prerequisite knowledge, it is important to remember that understanding the markets, and all of...
________________________________________________________________________________________ Trading Rules: Engage Your Trading Plan: Update your trading plan weekly or monthly to include new ideas and eliminate bad ones. Go back and read the plan whenever you fall in a hole and are looking for a way to get...
________________________________________________________________________________________ Trading Rules: Lose the Crowd: Long-term profitability requires positioning ahead of or behind the crowd, but never in the crowd because that’s where predatory strategies target. Stay away from stock boards and chat rooms, where people are less than serious and many of...
________________________________________________________________________________________ Trading Rules: Stick to Your Discipline: Discipline can’t be taught in a seminar or found in expensive trading software. Traders spend thousands of dollars trying to compensate for their lack of self-control but few realize that a long look in the mirror accomplishes the...
________________________________________________________________________________________ Trading Rules: Protect Your Trading Capital Saving money to fund a trading account can take a long time and much effort. It can be even more difficult (or impossible) the next time around. It is important to note that protecting your trading capital is not synonymous...
Daily Supply Zone: ________________________________________________________________________________________ Golden Trading Rules: Never take decisions based on rumors Your decisions must be based on proper research. You have to be in touch with the markets all the time to know which factors affect the market and in turn your stocks. A constant monitoring...