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25
Golden Rules:
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1
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Plan
your trades. Trade your
plan. |
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2
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Keep
records of your trading
results. |
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3
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Keep
a positive attitude, no
matter how much you lose. |
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4
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Don't
take the market home. |
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5
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Forget
your College degree and
trust your instincts. |
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6
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Successful
traders buy into bad news
and sell into good news. |
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7
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Successful
traders are not afraid to
buy high and sell low. |
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8
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Continually
strive for patience, perseverance,
determination, and rational
action. |
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9
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Limit
your losses - use stops! |
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10
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Never
cancel a stop loss order
after you have placed it! |
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11
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Place
the stop at the time you
make your trade. |
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12
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Never
get into the market because
you are anxious because
of waiting. |
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13
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Avoid
getting in or out of the
market too often. |
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14
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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 the equation for success. |
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15
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Always
discipline yourself by following
a pre-determined set of
rules. |
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16
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Remember
that a bear market will
give back in one month what
a bull market has taken
three months to build. |
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17
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Don't
ever allow a big winning
trade to turn into a loser.
Stop yourself out if the
market moves against you
20% from your peak profit
point. |
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18
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Expect
and accept losses gracefully.
Those who brood over losses
always miss the next opportunity,
which more than likely will
be profitable. |
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19
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Split
your profits right down
the middle and never risk
more than 50% of them again
in the market. |
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20
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The
key to successful trading
is knowing yourself and
your stress point. |
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21
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The
difference between winners
and losers isn't so much
native ability as it is
discipline exercised in
avoiding mistakes. |
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22
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Speech
may be silver but silence
is golden. Traders with
the golden touch do not
talk about their success. |
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23
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Dream
big dreams and think tall.
Very few people set goals
too high. A man becomes
what he thinks about all
day long. |
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24
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Accept
failure as a step towards
victory. |
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25
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Have
you taken a loss? Forget
it quickly. Have you taken
a profit? Forget it even
quicker! |
