willy
Publish date: Thu, 26 Jul 2012, 10:39 PM
willy
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Know thy enemy know thyself

 

  1. The Market pays you to be disciplined
  2. Be disciplined every day, in every trade, and the market will reward you. But don’t claim to be disciplined if you are not 100% of the time
  3. Always lower your trade size when you are trading poorly
  4. Never turn a winner into a loser
  5. Your biggest loser can’t exceed your biggest winner
  6. Develop a methodology and stick with it. Don’t change methodologies from day to day
  7. Be yourself. Don’t be someone else
  8. You always want to be able to come back and play the next day
  9. Earn the right to trade bigger
  10. Get out of  your losers
  11. The first loss is the best loss
  12. Don’t hope and pray. If you do, you will lose
  13. Don’t worry about news. It’s history
  14. Don’t speculate. If you do, you will lose
  15. Love to lose money. Accept the fact and get out quickly.
  16. If your trade is not going anywhere in a given time frame, it’s time to exit
  17. Never take a big loss. Only a big loss can hurt you
  18. Make a little bit every day. Dig your ditches. Don’t fill them in
  19. Hit singles not home runs
  20. Consistency builds confidence and control
  21. Learn to scale out your winners
  22. Make the same type of trades over and over again – Be a bricklayer
  23. Don’t over-analyze. Don’t procrastinate. Don’t hesitate. If you do, you will lose
  24. All traders are created equal in the eyes of the market
  25. It’s the market itself that wields the ultimate scale of justice

You must learn to respect the market. The market will mercilessly punish you if you do not play by the Rules. Learn to condition yourself to play by the 25 Rules of Trading Discipline and you will be rewarded.

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Discussions
5 people like this. Showing 7 of 7 comments

Mat Cendana

Great tips here. Thanks.

2012-07-26 23:30

euscilyn

willy I like it !

2012-07-27 00:14

hoyt

Great. Will place it near the monitor.

2012-07-27 06:53

AL833D

nice tips willy.

2012-07-27 07:47

bigyellow

it is important to differentiate OWN PERCEPTIONS and MARKET REALITY when investing...

2012-07-27 07:51

Jolly Mypet

own perception can be deceiving you could be wrong if not based on facts.If you want facts do TA it can help you decide better. Charts do not lie !

2012-07-27 08:42

kl foong

Willy, thanks.

2012-07-27 08:48

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