Tuesday, May 25, 2010

More general ideas and guidelines

1. Setting goals. They must be realistic, attainable and measurable. Visualise yourself reaching these goals.
2. Always use stops, appropriate to your system.
3. Time has no bearing on money. You could earn 5% in an hour more than you get from a bank account in a year. That has no bearing on whether the market is going to carry on in the same direction.
4. Nobody went broke banking profits.
5. Review each session, what did the market give, what could you reasonably get.
6. If you are consistently falling considerably short on whats reasonably available review your entry and exit strategy.
7. Demo trade successfully before you trade with real money. The market will be there tomorrow.
8. Go for experience before you go for the money, in trading and in life in general.
9. Don't stay married to a trade if everything suggests get out. Review losses, what, why, where and when are always good questions to ask. Did you trade your plan.
10. Plan your trade, stick to your system.

1 comment:

  1. If you are falling short on what's REASONABLY available, review your entry and exit strategy.

    Reasonably available is important.

    ReplyDelete