To be successful in the trading game, there are some rules to follow. By violating the rules, you will definitely on the losing side of the game. Regardless of all the trading books and newsletters that have cropped up, all of the market gurus are sharing and following the same trading rules. You can’t live without them if you want to succeed in your trading. Here are the rules to successful trading, in random order, and they apply in all trading situations:
- Plan Your Trade And Trade Your Plan
- The Trend Is Your Friend
- Focus On Capital Preservation
- Know When To Cut Loss
- Take Profit When The Trade Is Good
- Be Emotionless
- Do Not Trade Based On A Tip From A Friend Or Broker
- When In Doubt, Stay Out
- Do Not Overtraded
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