Trading Rules 2
As i wrote here we need them, otherwise we are just a waste of time and funds…
11. Never do Cancel for the stop loss order after you have placed it!
12. Place the stop before or 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. In markets speculation The most difficult task 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. 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.
to be continued…
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