Tuesday, August 17, 2010

Some General Thoughts on Trading

accept personal responsibility for own trading

accept "they" will trade for their own good, same as you

develop your world-view beliefs as they relate to trading

set dollar range goals for your trading

develop your own personalized, systemized trading plan(s)

trade both up-side and down-side

trading can be maket aligned, or market agnostic

accept losses as part of any trading method, and move on

have 3 simple strategies that you understand very well

set target price ranges, rather than specific prices

avoid paralysis by analysis

avoid tight stop losses

take losses, hold winners

profits, let them develop

avoid trading on stories and news

predictions, "sought after like cheese-burgers", about as meaningful

track your trade details in a journal

risk management and money management, how they are different

have a regime for position size, and scale in, scale out

consider campaign style trading

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