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Did you think we would be any different? Heybut these really are good! Here they are: |
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Create a trading plan based on proven chart setups. |
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Identify risk and reward before you jump. |
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Never trade without your planEntry, Stop Loss, Exit. |
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Think in probabilitiesact in certainty. |
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Never hold a loser overnight. |
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Never risk more than a predetermined percentage of your capital on one trade. |
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Use time of day to your advantage: look for reversal after the first 30 minutes of the day, and don't bet against the trend in the last hour of the day. |
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Never add to a losing position. |
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Avoid tipseven better idea: short them! |
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Learn to sell short as often as you go long. |
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Control what you can, manage what you cannot. |
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Accept that you cannot know what will happenreact to what the market gives you. |
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Identify your signal, act automatically, feel good about the trade! |
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Now isn't that much better? Don't you feel as if the last crucial pieces of the puzzle have been dropped into place? Don't you feel as if you really are ready to stand in there and trade with the big boys? |
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Don't get too carried away . . . your education is far from over. InChapter 16 we'll talk about what you should do to continue to grow as a trader! |
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