Simple Trading Rules:
A trader that wants to continue trading needs to follow some rules/guidelines:
- Keep trades small
- Use stops <----- this is a must folks
- Know your tolerance for a loss: $25, $100, what amt are you willing to risk? Don't let them expire at -0-!!!!!
- Move your gains!!! Another must...trading acct has $300 in it and you make $200 this week....MOVE THE $200!!!!
- Trade what you SEE not what you THINK!
- Learn to read charts...but remember News trumps charts...
Like it or not.....a trader's own worst enemy is yourself. It's not a bad play, or the market, or the chart or whatever....sure, they factor in, but it is how a trader executes a play....
Does the trader take the gains and sell the losers quickly? Or do they let the gains slip away and hold the losing trade until expiration?
You are in charge of your own experience. Are you going to have a good day or a bad one? Read the posts, learn the trends and indicators, ask questions. There are some great traders on this board....many, many of them...
Making money in the market is difficult, but it can be done with strict discipline and personal rules.
sdh
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