RidetheMacro|11 GOLDEN TRADING RULES FOR TRADING ð
ð GOLDEN RULES FOR TRADING ð
ð 1. Donât break your rules -
The first and foremost rule of share trading is to never borrow capital to invest in share market. Test your trading setup and its logic through paper trading or back test it with the available data. Then start with small quantities or a single lot etc. So donât break the set rules , you made them for tough situations, just like the one youâre probably in right now.
ð 2. Donât believe in a company -
Trading is not investment. Remember the charts and forget the press releases.
ð 3. Donât seek the Holy Grail -
There is no secret trading formula, other than solid risk management. So stop looking for it. Always do trade keeping your trading capital into consideration. Donât over trade.
ð 4. Donât forget your discipline -
Learning the basics is easy. Most traders fail due to a lack of discipline, not a lack of knowledge. Maintaining stop loss is one of the key discipline parameter to be religiously followed.
ð 5. Donât chase the crowd -
Listen to the beat of your own drummer. By the time the Crowd acts, youâre probably too late. Or too early. Don't chase the Retails.
ð 6. Donât ignore the warning signs -
Big losses rarely come without warning. Donât wait for a lifeboat to abandon a sinking ship.
ð 7. Donât count your chickens -
Profits arenât booked until the trade is closed. The market gives and the market takes away with great fury.
ð 8. Donât have a paycheck mentality -
You donât deserve anything for all of your hard work. The market only pays off when youâre right, and when your timing is really, really good.
ð 9. Diversification of portfolio -
Do not put all eggs in one basket.
ð 10. Donât expect to make profit everyday -
If you consider that you can make profit on every trade, you are 100% wrong. Always be flexible and accept the fact as soon as you realize that you are on wrong side of the trade. Simply exit the trade without changing your strategy during the market; it may cause you double losses. Always follow stop loss. Treat trading as a BUSINESS and Earnings (profits) & Expenditure (losses). Learn to like losses as they are the part of the business.
ð 11. Never add to a losing position -
When market has given the verdict that your trade is wrong. Accept it. Just exit from the trade and donât average it. Donât take it personally and bring your ego in between. Donât fight the market. Itâs not a one on one thing. Itâs one on many.
Share your comments ideas below to make Things more better.
Thank You.
ð 1. Donât break your rules -
The first and foremost rule of share trading is to never borrow capital to invest in share market. Test your trading setup and its logic through paper trading or back test it with the available data. Then start with small quantities or a single lot etc. So donât break the set rules , you made them for tough situations, just like the one youâre probably in right now.
ð 2. Donât believe in a company -
Trading is not investment. Remember the charts and forget the press releases.
ð 3. Donât seek the Holy Grail -
There is no secret trading formula, other than solid risk management. So stop looking for it. Always do trade keeping your trading capital into consideration. Donât over trade.
ð 4. Donât forget your discipline -
Learning the basics is easy. Most traders fail due to a lack of discipline, not a lack of knowledge. Maintaining stop loss is one of the key discipline parameter to be religiously followed.
ð 5. Donât chase the crowd -
Listen to the beat of your own drummer. By the time the Crowd acts, youâre probably too late. Or too early. Don't chase the Retails.
ð 6. Donât ignore the warning signs -
Big losses rarely come without warning. Donât wait for a lifeboat to abandon a sinking ship.
ð 7. Donât count your chickens -
Profits arenât booked until the trade is closed. The market gives and the market takes away with great fury.
ð 8. Donât have a paycheck mentality -
You donât deserve anything for all of your hard work. The market only pays off when youâre right, and when your timing is really, really good.
ð 9. Diversification of portfolio -
Do not put all eggs in one basket.
ð 10. Donât expect to make profit everyday -
If you consider that you can make profit on every trade, you are 100% wrong. Always be flexible and accept the fact as soon as you realize that you are on wrong side of the trade. Simply exit the trade without changing your strategy during the market; it may cause you double losses. Always follow stop loss. Treat trading as a BUSINESS and Earnings (profits) & Expenditure (losses). Learn to like losses as they are the part of the business.
ð 11. Never add to a losing position -
When market has given the verdict that your trade is wrong. Accept it. Just exit from the trade and donât average it. Donât take it personally and bring your ego in between. Donât fight the market. Itâs not a one on one thing. Itâs one on many.
Share your comments ideas below to make Things more better.
Thank You.
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