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Trading is my business. Avoid impulse trading. Plan the trade and trade the plan.

10 golden rules for trading

If the internet goes down I call the broker to go flat. Then work on technical challenges to go back on online. Keep it simple and always look to simply further. Document and review every trade taken, every day. Risk and Money Management:. Limit your losses — use stops! Never Cancel a stop loss order after you have placed it! Never enter a trade without a stop. Do not. Day trade: Monday in the 1 st hour, 15min before and after a news announcement and before 10 am? Swing Trade: Friday after lunch. Position Trade: with any bias. Watch out for red new items and set alarms, every morning.

Capital Preservation:. I will never move my stop loss away from my entry, only ever towards or past it.

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Always perform position sizing analysis esp pip value for Cross Pairs. Never add to a losing position. These are my promises to myself — if I break them I must be kind to my account and stop trading, because I know that.. An edge is nothing more than an indication of higher probability of one thing happening over another. Your email address will not be published.

My 90 golden rules of trading General Rules Always limit my losses, by applying strict money and risk management. I will always follow rules No 1 and 2 Remember that a bear market will give back in one month what a bull market has taken three months to build. It is both a science and an art and consistent profitability is achievable and duplicateable.

My success is unlimited. I can achieve anything. Where others see impossibility, I see unlimited opportunity. Price patterns are a reflection of the collective psychology of a large number of traders My mental state the largest element of my trading edge and the key to my success. I must be rested, fit, healthy and mentally alert. Accepting the stress of trading by keeping focussed, calm, disciplined and not distracted is essential for being a professional trader.

I will constantly assess and adjust my trading state in order to maintain a mindset conducive to greatness. Negative emotions are my biggest enemy and I can train myself to subconsciously focus only following my plan and never to focus on wins and losses. I am highly disciplined trader committed to trading only for profit and strictly adhering to my plan: strategies, rules and SOPs. My style of trading is medium aggressive as I prefer to wait for the relative extremes to increase my odds.

Technically driven by supply and demand levels I am trading all three styles day-, swing- and position trading outright. I will not have a bias as to where the market may or may not head. I will analyse price patterns objectively and act according to my plan.

I trade what I see, not what I think! I understand I cannot control the market. I can only control myself. Losses are acceptable and statistically expected. I will minimise them by exercising compliance to my own rules, avoiding impulse trades and never, ever trading without a stop.

helping you succeed

Trading in my business and I am here to make a large profit from it. Making money in the Market is a tough and good and honourable profession that only the toughest will prevail doing. Discern which side of any trade has the most merit and then deploy your forces and capital accordingly. The last ten percent of a bull run in time often encompasses fifty percent or more of the entire price movement. Most of the action in any market move takes place near the end of that move.

If you miss the first two thirds of the entire duration of any bull or bear market, you've missed only a small portion of the price move. More often than not, extreme volatility at the end of a long bull run marks the highs. More often than not, extremely low volatility at the end of a long bear run marks the lows.

Bear markets are more violent than bull markets and usually retrace less. It is normal for markets to correct very sharply for one or two days after the first leg of a bull run. Those corrections are often the best buying opportunities, for the market has already proven its willingness to rise. The correction is often marked with doubt on the part of most market participants.

Being a contrarian doesn't mean that one must fade every rally or every break. Contrary opinion is really only useful at very major turning points. Information from the floor as to who is buying and who is selling is useless. The floor does not care what you do; neither should you care what the floor is doing. Rumours circulate more quickly and are filled with more useless information than from perhaps any other source known to speculators in aggregate.

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A central bank that must support its currency through intervention should be tested and re-tested and re-tested again, for eventually that support will fail and prices will move to the proper economic levels dictated by the market. When you reach for your pocket calculator in a state of euphoria to add up how much money the next price change will make for you, lighten up the position; or more euphemistically 'When you're yellin', you should be sellin' and when you're cryin' you should be buyin'!


  • Applied Picard--Lefschetz Theory.
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Pay attention to spreads, for they tell you what is going on within the market itself. Widening carrying charges are evidence of lack of demand and are usually associated with falling prices. Inverted markets, or markets heading toward an inversion, mean that demand is growing and are supportive of higher prices. A market that will not go up, or that goes up quickly and then fails on bullish news especially after a sustained rally is very likely finished rising. The reverse is obviously true for bear markets. Always buy the first day of a gap higher or sell the first day of a gap lower.

Gaps on charts indicate violent new buying or selling. Respect it, and add to the position if the gap is still open three days later. Avoid complex technical systems. The great traders keep things simple and are adaptable. Know when it is proper to break the rules, all of which are breakable except for 'adding to a losing position'. In a bull market we can only be long or neutral, and in a bear market we can only be short or neutral Never, under any circumstance, add to a losing position: Adding to losing position will eventually and absolutely lead to ruin.

Like us on Facebook and follow us on Twitter. The advantage of technical analysis is in this form of analysis investors can decide a predefined price level where if price moves one can square off his position booking small loss this mechanism is not possible to apply in fundamental analysis and one may have to accept a larger loss.

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