TRADING RULES
All great traders have one thing in common! If you learn one thing, and one thing only, this is the most important and they are trading rules.
Ed Sykota, Michael Marcus, Paul Tudor Jones, Michael Steinhardt, James B Rogers, Jr. and Kelly Cherkowski all have their own "Trading Rules".
1. Ride winners.
2. Cut losses.
3. Play great defense.
4. Discipline.
5. Keep bets small.
6. Always follow the rules.
7. Know when to break the rules.
8. Don't be concerned where you go in a position. The only relevant
question is whether you are bullish or bearish?
9. Patience.
10. Never trade in situations where you do not have control (example in fron to key reports, as that is gambling,, not trading).
11. Don't ever leverage losers.
12. Be your own person.
13. Always do your homework.
14. If you don't bet, you can't win.
15. A strong desire to win.
These are my trading rule, and I read them every morning before trading and every afternoon after trading, and if I follow them, I pat myself on the back, and say "Well Done"!
This is the best advice I have received regarding the psyschology of trading from Dr. Van K. Tharp.
Swing Trades
New Long Positions
SUPG
SIMO
SMTS
Current Longs (% gains to date)
NVDA (4), TZOO (1), IIVI (0), BRLC (3)
Day Trades
none
CAL short @ 32.5 cover @ 31.95. for gain of $ 1,010...(2,000 shares) airline stock pulled back across the board after a good run up the past month due to the lower price in Oil.
All great traders have one thing in common! If you learn one thing, and one thing only, this is the most important and they are trading rules.
Ed Sykota, Michael Marcus, Paul Tudor Jones, Michael Steinhardt, James B Rogers, Jr. and Kelly Cherkowski all have their own "Trading Rules".
1. Ride winners.
2. Cut losses.
3. Play great defense.
4. Discipline.
5. Keep bets small.
6. Always follow the rules.
7. Know when to break the rules.
8. Don't be concerned where you go in a position. The only relevant
question is whether you are bullish or bearish?
9. Patience.
10. Never trade in situations where you do not have control (example in fron to key reports, as that is gambling,, not trading).
11. Don't ever leverage losers.
12. Be your own person.
13. Always do your homework.
14. If you don't bet, you can't win.
15. A strong desire to win.
These are my trading rule, and I read them every morning before trading and every afternoon after trading, and if I follow them, I pat myself on the back, and say "Well Done"!
This is the best advice I have received regarding the psyschology of trading from Dr. Van K. Tharp.
Swing Trades
New Long Positions
SUPG
SIMO
SMTS
Current Longs (% gains to date)
NVDA (4), TZOO (1), IIVI (0), BRLC (3)
Day Trades
none
CAL short @ 32.5 cover @ 31.95. for gain of $ 1,010...(2,000 shares) airline stock pulled back across the board after a good run up the past month due to the lower price in Oil.
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