10 Keys to Successful Trading
Chisel these in your mind!
As ever-evolving traders, we are always looking for hints, tips, and rules that will help guide us to consistent profitability. In no particular order of importance, below are 10 simple rules that will keep you on track. Print them, screen capture them or write them down in your trading journal; do what needs to be done to keep them top of mind!
Always use stop-loss orders or equivalent to limit your risk
Never alter your stop-loss to permit greater losses
Do not trade against the trend
Limit the size of your losses
Trade with money that you can afford to lose
Be patient and wait for good trading opportunities
Reduce position size when you find yourself in a losing streak
Make our own trading decisions
Be flexible in your trading approach
Plan your trade and trade your plan