Classic trading rules
Classic trading rules
1. Plan your trades. Trade your plan.
2. Record your results.
3. Keep a positive attitude regardless of your losses.
4. Do not bring the market from work to home.
5. Constantly improve the level of your goals.
6. Buy on bad news and sell at good.
7. Do not be afraid to buy high and sell low.
8. Always have well planned time for market research.
9. Insulate yourself from the opinions of others.
10. Stay calm, persistent and consistent, act rationally.
11. Limit your losses – use stops!
12. Never cancel a stop after you have placed it.
13. Never enter a market because you are tired of being out of the market. Being out of position – it is also a position.
14. Do not go in and out of the market too often.
15. Traders learn from losses – not profits. Learn every loss to improve your knowledge of the market.
16. The challenge in trade – not prediction but self-control. Successful trading is difficult and is often accompanied by negative emotions. The most important element of successful trading – it’s you.
17. Always discipline yourself by following a predetermined rule.
18. Remember that a bear market is a month to destroy what you have built over the three months of the bull market.
19. Do not allow to turn big profits in the large loss – put the trailing-stops at 20%.
20. You must have a plan, you need to know your plan – and you should follow it.
21. The expected loss and take them with dignity. Those who brood of loss, be sure to miss the next opportunity, which is likely to be profitable.
22. Share your profit in half, and never risk more than 50% of the profits by acting against the market.
23. The key to successful trading – the study himself.
24. The difference between getting in the market and losing there is not so much native ability as the ability to responsibly examine their mistakes.
25. Perceive losses as a step towards victory.
26. You took Loss? Forget it quickly. You have received a profit? Forget about it even faster. Do not let selfishness and greed get in the way you think clearly and work hard.
27. One of the major secrets of traders – to commensurate the desires with the desires of the market. Market – it is the truth as it reflects all forces fighting on it.
28. It is much easier to get into a trade, than to leave it.
29. If the market does not do. what you expect from him – get out of the market.
30. Never add to a losing position. Losing position means that you are wrong.
31. Do not try to predetermine your profit.
32. The key to riches in trade – simplicity. Avoid methods that you do not understand.
33. Do not be too curious as to the reasons, to move the market.
34. Avoid opening too large positions that can affect your emotions. Do not be too aggressive in the market. Treat him gently, let your profits grow gradually, rather than an explosion.
35. Do not attempt to define peaks and tops.
36. You must believe in yourself and in your ability to think straight if you want to win in this game.
37. In a thin market should not try to guess which way will be the next big move – up or down.
38. In the world of money nobody knows what will happen in the future. No one! Therefore, successful traders do not try to post the position on the basis of what was going to happen and reacting to what has already happened.
39. If the ship sinks, do not hesitate – jump!
40. Lose your possibilities – but not money. With rare exceptions, unusual conditions, get in the habit of using stop-profit. Do not reproach yourself, if the price continues to grow without you. It is better to think of cases where timely profit-taking to prevent losses.
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