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Strategies & Market Trends : LastShadow's Position Trading

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To: Dave Shares who wrote (11449)3/25/1999 9:06:00 PM
From: John J H Kim  Read Replies (1) of 43080
 
Something worth printing out and taping next to your screen:

HABITS OF SUCCESSFUL TRADERS

1. TAKES A POSITION ONLY WHEN THEY BELIEVE THEY HAVE AN EDGE.

2. ACTS FREQUENTLY ON INITIAL INSTINCTS.

3. IF THEY FIND THEMSELVES HOPING OR WISHING, THEY GET OUT AND GO ONTO THE NEXT TRADE

4. THINKS INDEPENDENTLY!

5. DOESN'T GET MARRIED TO A STOCK OR A POSITION.

6. RECOGNIZES THAT EVERY SECOND OF EVERY MINUTE THERE IS ANOTHER OPPORTUNITY TO MAKE MONEY.

7. WHEN LOSING MONEY IN A POSITION TAKES THE LOSS QUICKLY.

8. DOESN'T LET AN EIGHTH GET IN THE WAY OF THEIR TRADING.

9. ASSUMES RESPONSIBILITY FOR THEIR ACTIONS.

10. TRADES SMALLER WHEN THINGS ARE GOING BAD.

11. TRADES BIGGER WHEN THINGS ARE GOING GOOD

12. STUDIES REASONS FOR SUCCESS AND FAILURE.

13. DISCIPLINE! DISCIPLINE! DISCIPLINE! DISCIPLINE! DISCIPLINE!

14. BUSINESS PLAN
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