Tweet
TRADING RULES
1. Plan your trades. Trade your plan
2. Keep records of your trading results.
3. Keep a positive attitude, no matter how much you lose.
4. Don't take the market home.
5. Successful traders buy into bad news and sell into good
news.
6. Successful traders are not afraid to buy high and sell low.
7. Successful traders have a well-scheduled planned time
for studying the markets.
8. Successful traders isolate themselves from the opinions
of others.
9. Continually strive for patience, perseverance,
determination, and rational action.
2. Keep records of your trading results.
3. Keep a positive attitude, no matter how much you lose.
4. Don't take the market home.
5. Successful traders buy into bad news and sell into good
news.
6. Successful traders are not afraid to buy high and sell low.
7. Successful traders have a well-scheduled planned time
for studying the markets.
8. Successful traders isolate themselves from the opinions
of others.
9. Continually strive for patience, perseverance,
determination, and rational action.
10. Limit your losses - use stops ! ( mental imo )
11. Never Cancel a stop loss order after you have placed it!
12. Place the stop at the time you make your trade.
13. Never get into the market because you are anxious
because of waiting.
14. Avoid getting in or out of the market too often.
15. Losses make the trader studious - not profits. Take
advantage of every loss to improve your knowledge of market
action.
16. The most difficult task in speculation is not prediction but
self - control. Successful trading is difficult and frustrating.
You are the most important element in the equation for
success.
17. Always discipline yourself by following a pre - determined
set of rules.
18. Remember that a bear market will give back in one
month what a bull market has taken a three months to build.
19. Don't ever allow a big winning trade to turn into a loser.
Stop yourself out if the market moves against you 20% from
your peak profit point.
20. You must have a program, you must know your program,
13. Never get into the market because you are anxious
because of waiting.
14. Avoid getting in or out of the market too often.
15. Losses make the trader studious - not profits. Take
advantage of every loss to improve your knowledge of market
action.
16. The most difficult task in speculation is not prediction but
self - control. Successful trading is difficult and frustrating.
You are the most important element in the equation for
success.
17. Always discipline yourself by following a pre - determined
set of rules.
18. Remember that a bear market will give back in one
month what a bull market has taken a three months to build.
19. Don't ever allow a big winning trade to turn into a loser.
Stop yourself out if the market moves against you 20% from
your peak profit point.
20. You must have a program, you must know your program,
and you must follow your program.
21. Expect and accept losses gracefully. Those who brood
over losses always miss the next opportunity, which more
than likely will be profitable.
22. Split your profits right down the middle and never risk
more then 50% of them again in the market.
23. The key to successful trading is knowing yourself and
your stress point.
24. The difference between winners and losers isn't so much
native ability as it is discipline excercised in avoiding
mistakes.
25. In trading as in fencing there are the quick and the dead.
26. Speech may be silver but silence is golden. Traders with
the golden touch do not talk about their success.
27. Dream big dreams and think tall. Very few people set
goals too high. A man becomes what he thinks about all day
long.
28. Accept failure as a step towards victory.
29. Have you taken a loss? Forget it quickly. Have you taken
a profit? Forget it even quicker! Don't let ego and greed
inhibit clear thinking and hard work.
30. One cannot do anything about yesterday. When one door
closes, another door opens. The greater opportunity always
than likely will be profitable.
22. Split your profits right down the middle and never risk
more then 50% of them again in the market.
23. The key to successful trading is knowing yourself and
your stress point.
24. The difference between winners and losers isn't so much
native ability as it is discipline excercised in avoiding
mistakes.
25. In trading as in fencing there are the quick and the dead.
26. Speech may be silver but silence is golden. Traders with
the golden touch do not talk about their success.
27. Dream big dreams and think tall. Very few people set
goals too high. A man becomes what he thinks about all day
long.
28. Accept failure as a step towards victory.
29. Have you taken a loss? Forget it quickly. Have you taken
a profit? Forget it even quicker! Don't let ego and greed
inhibit clear thinking and hard work.
30. One cannot do anything about yesterday. When one door
closes, another door opens. The greater opportunity always
lies through the open door.
31. The deepest secret for the trader is to subordinate his
will to the will of the market. The market is truth as it reflects
all forces that bear upon it. As long as he recognizes this he is
safe. When he ignores this, he is lost and doomed.
32. It's much easier to put on a trade than to take it off.
33. If a market doesn't do what you think it should do, get
out.
34. Beware of large positions that can control your emotions.
Don't be overly aggressive with the market. Treat it gently by
allowing your equity to grow steadily rather than in bursts.
35. Never add to a losing position.
36. Beware of trying to pick tops or bottoms.
37. You must believe in yourself and your judgment if you
expect to make a living at this game.
38. In a narrow market there is no sense in trying to
anticipate what the next big movement is going to be - up or
down.
39. A loss never bothers me after i take it. I forget it
overnight. But being wrong and not taking the loss - that is
what does the damage to the pocket book and to the soul.
40. Never volunteer advice and never brag of winnings.
41. Of all speculative blunders, there are few greater than
all forces that bear upon it. As long as he recognizes this he is
safe. When he ignores this, he is lost and doomed.
32. It's much easier to put on a trade than to take it off.
33. If a market doesn't do what you think it should do, get
out.
34. Beware of large positions that can control your emotions.
Don't be overly aggressive with the market. Treat it gently by
allowing your equity to grow steadily rather than in bursts.
35. Never add to a losing position.
36. Beware of trying to pick tops or bottoms.
37. You must believe in yourself and your judgment if you
expect to make a living at this game.
38. In a narrow market there is no sense in trying to
anticipate what the next big movement is going to be - up or
down.
39. A loss never bothers me after i take it. I forget it
overnight. But being wrong and not taking the loss - that is
what does the damage to the pocket book and to the soul.
40. Never volunteer advice and never brag of winnings.
41. Of all speculative blunders, there are few greater than
selling what shows a profit and keeping what shows a loss
42. Standing aside is a position.
43. It is better to be more interested in the market's reaction
to new information than in the piece of news itself.
44. If you don't know who you are , the markets are an
to new information than in the piece of news itself.
44. If you don't know who you are , the markets are an
expensive place to find out.
45. In the world of money, which is a world shaped by
human behavior nobody has the foggiest notion of what will
happen in the future. Mark that word - Nobody! Thus the
successful trader does not base moves on what supposedly
will happen but reacts instead to what does happen.
46. Except in unusual circumstances, get in the habit of
taking your profit too soon. Don't torment yourself if a trade
continues winning without you. Chances are it won't continue
long. If it does, console yourself by thinking of all the times
when liquidating early reserved the gains that you would have
otherwise lost.
47. When the ship starts to sink, don't pray - jump.
48. Lose your opinion - not your money.
49. Assimilate into your very bones a set of trading rules that
happen in the future. Mark that word - Nobody! Thus the
successful trader does not base moves on what supposedly
will happen but reacts instead to what does happen.
46. Except in unusual circumstances, get in the habit of
taking your profit too soon. Don't torment yourself if a trade
continues winning without you. Chances are it won't continue
long. If it does, console yourself by thinking of all the times
when liquidating early reserved the gains that you would have
otherwise lost.
47. When the ship starts to sink, don't pray - jump.
48. Lose your opinion - not your money.
49. Assimilate into your very bones a set of trading rules that
works for you.