Trading is NOT about being right or wrong. Trading IS about managing money!
- Trade with a plan and stick to it.
- Trade with the trend of individual issues; “The trend is your friend”
- Let your profits run; cut your losses short.
- Never let a good profit run into a loss.
- Never add to a losing position.
- Be Patient
- Never Over-trade
- When in doubt, get out!
- Use Stop Loss orders whenever practical
- Be just as willing to sell as you are to buy.
- Never buy just because the price is low; Never sell just because the price is high.
- Never trade on a tip.
- Always analyze your mistakes
- Never trade if your success depends on your execution.