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GOLDEN RULES OF TRADING

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GOLDEN RULES OF TRADING   Any trader’s system has to employ some kind of rules for themselves. The most important aspect is learning to execute these rules and, surprisingly enough, knowing when to break those rules. For me, breaking these rules resides in the part of trading when one moves from mechanical trading to including a more intuitive sense of the markets. Although everyone has their special set of rules, I have listed those by which I trade everyday. These Golden Rules of Trading have been developed by me over the years and should be memorized by the student. I suggest you print them on a poster and put them on the wall where you trade. The breaking of trading rules for the most part leads to confusion and losses. You will no longer be confident and exercise good judgment. I have had students toss out the rules by “trying things.” When you have fast profits, there is the temptation to experiment with them. If you are successful, at first it only reinforces b