Different Trading Rules We Live By....

[pierre 10]

I though it might be interesting to hear some of the trading rules traders live by. Im still learning the ropes of trading and one rule I live by is there is no such thing as overbought or oversold!

[MrPaul 10]

I though it might be interesting to hear some of the trading rules traders live by. Im still learning the ropes of trading and one rule I live by is there is no such thing as overbought or oversold!

 

Here are a few I can think of...They may be general, but perhaps the discussion will elaborate if others share the same rules.

 

Don't gamble

Don't chase the market

Have a reason for every trade

Wait for a pullback

Always know where you're getting out before you get in

Always know when your getting out if the trade goes wrong before you get in

Have a trading plan and trade it

Learn to love risk

Never give up or stop learning

 

 

These are just a few off the top of my head but they all help you do one thing. Preserve your Precious Capital, because without that you won't even have a chance to follow rules.

[Soultrader 12]

Heres mine:

 

A. Keep It Simple Stupid

B. Keep It Simple Stupid

C. Keep It Simple Stupid

D. All of the above

 

[protrader 10]

only risk alotted amount of capital to each trade, myself 1-2%

trade what you see not what you think!