Wednesday, January 28, 2015

TRADING RULES


  1. Only trade at major inflection support/resistant points.
  2. Pass on trades that are in middle of range
  3. Identify the best prices within price patterns -  that directly improves reward/risk profile.
  4. There is symmetry in price movements.
  5. Trade from position of strength by scaling into these points on retracements. 
  6. Always consult higher time frames for big picture support/resistant points without the extra noises. 
  7. Don't chase. Short into rallies, Buy into dips.
  8. Patience trumps all. Patience in letting trade work out by staying in. Patience in letting charts set up before committing.
  9. Trading is a game of probabilities, risk management, and psychological calmness
  10. You don't have to know what's going to happen next to make money or to be right
  11. Making the right trade is also about taking managed losses.
  12. Embrace price fluctuations before price hits target.
  13. Focus trading success on self improvement, not on dollar amounts. Did I get better today?

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