A Dozen Rules to Trade By

  • Know what timeframe you wish to trade in ahead of time-day, mini, swing trade or position swing
  • Have a plan and strategy and stick to it
  • Follow and trade the strongest groups and sectors
  • Run with the winners
  • Once you determine your timeframe, place your stops accordingly and don't waiver from that strategy
  • Keep targets in mind and take profits when they are hit
  • Never add to a losing trade - plain and simple
  • Make sure you understand how to position size and manage your money
  • Make sure you are well educated both on chart patterns and fundamentals
  • Learn from your mistakes, but detach from the outcomes-both positive and negative
  • Rules are guidelines - use them but break them as long as you have a definitive reason why you should
  • The market is always there