TOP 15 TRADING POINTS YOU MUST NOTE DOWN…
1. If you're In doubt, stay out.
2. When there is nothing to do, do nothing!
3. Without confidence, you'll be unable to trade effectively, but with too much confidence, you'll trade too big & destroy yourself.
4. Stop-loss should be set outside the normal price action and out of the reach of noise. When you enter a trade, find a spot where you say if the price gets to this level, then I'm probably wrong about the direction.
5. Unprofitable traders are preparing for their entries to chase the late trends.
6. A losing trade costs you money, but letting a losing trade get too far out of the hand can cause you to lose nerve. Cut losses for the sake of your nerves and your capital.
7. A stop-loss must be based on the price level that you've proven wrong, not at the level where you have lost all the money you can stand to lose.
8. A key to winning is inside your head, not inside a computer.
9. Mass behavior is more premative than individual behavior. If you can understand how the crowd behaves, then you can profit from their mood swings and avoid being swept up in their emotion.
10. Be greedy when others are fearful & fearful when others are greedy.
11. A successful trader is a realist. He knows his abilities & limitations. He sees what is happening in the market & knows how to react to them.
12. A loser is not under-capitalized his mind is underdeveloped.
13. Those who do not learn from the past are condemned to repeat them.
14. Your success & failure as a trader depends on controlling your emotions.
15. When you trade, you compete against the sharpest minds in the world. If you allow your emotions to interfere with your trading, the battle is over.
