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Trading Rules

Discussion in 'Shares' started by Tropo, 16th Oct, 2005.

  1. Tropo

    Tropo Well-Known Member

    Joined:
    17th Aug, 2005
    Posts:
    3,396
    Location:
    NSW
    50 Trading Rules !.

    1) Plan your trade. TRADE your plan.
    2) Keep records of your trading results.
    3) Keep a positive attitude, NO matter how much you lose.
    4) Don’t take the market home.
    5) Continually set higher trading goals.
    6) Successful traders Buy into bad news and SELL into good news.
    7) Successful traders are NOT afraid to buy high and sell low.
    8) Successful traders have a well scheduled planned time for study the market.
    9) Successful traders ISOLATE themselves from the opinions of others.
    10) Continually strive for patience, perseverance, determination and rational action.
    11) Limit your losses – use stops ( or other techniques ).
    12) Never cancel a stop loss order after you have placed it.
    13) Place the stop at the time you make your trade.
    14) Avoid getting in or out of the market too often.
    15) Losses make the trader studious – not profit. Take advantage of every loss to improve your knowledge of market action.,
    16) The most difficult task in speculation is NOT prediction BUT self-control.
    Successful trading is difficult and frustrating. YOU are the most important element in this equation for success.
    17) Always discipline yourself by following a pre-determined set of rules.
    18) Remember that a bear market will give back in ONE month what a bull market has taken three months to build.
    19) Don’t ever allow a big winning trade to turn into a loser.
    20) Stop yourself out IF the market moves against you 20 % from your profit point.
    21) You must have a program, you must know your program, and you MUST follow your program.
    22) Expect and accept losses gracefully. Those who brood over looses ALWAYS miss the next opportunity, which more than likely will be profitable.
    23) Split your profit right down the middle and never risk more than 50 % of them again in the market.
    24) The key to successful trading is knowing yourself and your stress point.
    25) The difference between winners and losers ISN’T so much native ability as it is discipline exercised in avoiding mistakes.
    26) In trading as in fencing there are the quick and the DEAD.
    27) Speech may be silver BUT silence in golden. TRADERS with golden touch DO NOT talk about their success.
    28) Dream big dreams and think tall. Very few people set goals too high.
    A man become what he thinks about all day long.
    29) Accept failure as a step towards Victory.
    30) Have you taken a loss?. Forget it quickly.
    Have you taken a profit ?. Forget it even quicker !.
    Don’t let EGO and GREED inhibit clear thinking and hard work.
    31) One can not do anything about yesterday. When one door closed, another door opens.
    The greater opportunity always lies through the open door.
    32) The deepest secret for the traders is to subordinate his will to the will of the market.
    33) It’s much easier to put on a trade than to take it off.
    34) If a market doesn’t do what you think it should do, get out.
    35) Beware of large positions that can control your emotions. Don’t be overly aggressive with the market. Treat it gently by allowing your equity to grow steadily rather than in bursts.
    36) Never add to the losing position.
    37) Beware of trying to pick tops or bottoms.
    38) You must believe in yourself and your judgment if you expect to make a living at this game.
    39) In the narrow market there is no sense in trying to anticipate what the next big movement is going to be – up/down.
    40) A loss never bothers me after I take it. I forget it overnight. But being wrong and not taking the loss – that is what does the damage to the pocket and to the psyche.
    41) Never volunteer advice and never brag of your winnings.
    42) Of all speculative blunders, there are few greater than selling what shows a profit and keeping what shows a loss.
    43) Standing a side is a position.
    44) It is better to be more interested in the market’s reaction to new information than in the piece of news itself.
    45) If you don’t know who you are, the markets are an expensive place to find out.
    46) In the world of money, which is a world shaped by human behavior, nobody has the “ ****** “ notion of what will happen in the future. Mark that word = NOBODY !!. Thus the successful trader does not base moves on what supposedly will happen but react instead to what does happen.
    47) Except in unusual circumstances, get in the habit of talking your profit too soon. Don’t torment yourself if a trade continues winning without you. Chances are it won’t continue long. If it does, console yourself by thinking of all the times when liquidating early reserved gains that you would have otherwise lost.
    48) When the ship starts to sink, don’t pray …..jump !.
    49) Lose your opinion – not your money.
    50) Assimilate into your very bones a set of trading rules that works for you.
    :cool:
     
  2. talbashan

    talbashan Well-Known Member

    Joined:
    21st Sep, 2005
    Posts:
    58
    hi tropo
    thanks for those guidelines..

    tal
     
  3. Tropo

    Tropo Well-Known Member

    Joined:
    17th Aug, 2005
    Posts:
    3,396
    Location:
    NSW
    Talbashan,

    My pleasure.
    I hope it will help ... :D
    :cool: