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TRADING RULES

Posted in Misc by raiiden
August 31st, 2008 - No Comments
  • DON’T GAMBLE
  • Be patient – wait for opportunities
  • Trade on your own ideas and style
  • Never trade impulsively, especially on other people’s advice
  • Don’t risk too much on one event or company
  • Stay focused, especially when the markets are moving
  • Listen to the market, not outside opinions
  • Think trades though, including profits/loss exit points, before you put them on
  • If you are unsure about a position, just get out
  • Force yourself to trade against the consensus
  • Trade pattern recognition
  • Prices move before fundamentals
  • Admit when you’re wrong
  • You will be wrong often, recognize winners and losers fast
  • Start each day from last night’s close, not your original cost
  • Adding to losers is easy but usually wrong
  • Force yourself to buy on extreme weakness and sell on extreme high
  • Short a big gap down
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