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Trading Tips

 

Approach the market like a robot. Emotionless and effective!


  • Understand your maximum loss.
  • Understand it's OK to take a loss.
  • Don't become emotionally attached to your trades.
  • Take adequate position sizes Be in total control.
  • Your psychological mindset is one of the most important ingredients to your success in the market. Be disciplined and you will put yourself ahead of the majority of other traders/investors.

The Fruits of Your Trading Success



I re-read a quote from Jesse Livermore today :

The fruits of your success will be in direct ratio to the honesty and sincerity of your own effort in keeping your own records, doing your own thinking, and reaching your own conclusions. I find time and time again that losing traders are making the same mistakes :
  • They don't keep any records.
  • They do no testing.
  • They become euphoric about (and increase risk wildly after) wins.
  • They become despondent about (and decrease risk wildly after) losses.
  • They focus on how much money they want.
  • They rarely / never think about how much they stand to lose on a trade.
  • They set their stop loss based on a 1:1 or 1:2 risk to reward ratio, just to make the ratio look good.
  • They discount the importance of psychology.
  • They over-value the importance of the trading "system."
  • They have no routine.

The recipe for success in Trading are as follows :

  • Identify a signal
  • Take immediate action
  • Feel good no matter what the result, as long as the trade is consistent with your technical bias based on sound probabilities. On the other hand, experiencing hesitation or self-doubt, just at the moment of action, is the recipe for failure!

Small advise to all Readers :

  • Before you invest your money, investigate.
  • Fix your target and always keep stop loss and trailing stop loss.
  • Never average loss-making positions.
  • Stop-loss is inevitable for safe trading.
  • The call expires once the target is achieved or the stop-loss is hit.
  • One bad trade can ruin you, so always keep risk low.
  • When the market is trend less, keep out.
  • Follow the trend.
  • Good things never end here.
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