1. A none system trade than wins is
probably the worst thing you can have happen to you. You'll either
dilute your system or trade everything in sight thinking you can. Act in
your own best interests.
2. Trading rules, get them, follow them.
Trading rules should cover entry, stops and exit strategy. Its your
trade take 100% responsibility. Rules can also cover hours you trade,
stopping after so many losses, whatever is right for you.
3. Trading because you are afraid of missing a move is not acting in your own best interest.
4. If its going up buy, if its going down sell.
5.
Flawless execution. You don't need to buy the absolute low or sell the
absolute high to make money. Flawless execution means acting on an
opportunity in terms of your rules the moment that you see it. Act
without hesitation. Follow your rules flawlessly.
6. Use stops always.
7. Lock in profits, trail stops in a manner appropriate to your system.
8.
In this business protecting yourself and acting in your own best
interests is so much more important than taking a chance. Its not even
close. Remember you are trading, not gambling.
9. Keep yourself out of bad losing trades, the quality winning trades per your system will come.
10. Bank profits, what's the market offering and what are your goals? Let winners run.
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