BC: RULES FOR TRADING
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Below are just a few possible resolutions, but the important part for you as a trader is to set self-management rules that you are committed to, and that are achievable.
1. I will not trade every day just because I feel as if I have to.
2. I will develop a proven trading system, and realize that one bad trade does not negate the system.
3. I will set profit targets, and will take those profits when they are achieved. I will not change targets in an effort to create "just a little more" profit.
4. I will not let emotions sway my trade decisions.
5. I will approach trading as if it is a business. I will be strategic, and logical.
6. I will learn something every day, no matter how small, that will give me a greater trading edge.
7. I will keep a trading journal, and note when and why my analysis failed and succeeded. I will review this journal weekly.
8. I will not fight the market. I will capitalize on whichever direction the market is going.
9. I will take small losses rather than let them become large losses. I don't have to be correct with every trade.
10. I will become an expert in one area of trading, whether it be options, one certain stock, or an index. I will master every detail particular to those trades.
11. I will invest in my success, whether it be a book, market data, or a trading coach.
12. I will act upon what the market is doing, rather than what I think it "should" be doing.
Source: BigTrends.com |
