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11.
It is always very
easy to enter a
losing
trade.
12.
During the blowout
phase of the market,
whether it is up or
down, the risk managers
usually issue marginal
call position
liquidation orders. The
managers do not usually
verify the screen for
overbought or
oversold, they
just keep distributing
liquidation orders. It
is better for you to
make sure that you do
not bar the
way.
13.
Superstition is not a
bad thing. If something
is bothering you then
you shouldn’t
trade.
14.
Buy all the news that
you hear, and sell the
factual
news.
15.
News is only important
when the market doesn't
react in its
direction.
16.
It can be helpful for
you to read today's
paper the following
day. When you do so
each day with the
knowledge of what the
market already did, it
will help to remind you
that what happened
yesterday has very
little to do with what
will happen
today.
17.
You must not enter a
new trade in the
direction of a gap.
Never let the market
force you into a
trade.
18.
The first and last
ticks are always the
most costly, so get in
late and get out
early.
19.
When you find that
everyone else is in,
then it means that it
is time for you to get
out.
20.
Never trade when you
are not
well.
21.
You should only modify
your unit of trading
under a plan of goals
which are attained. You
must also have a plan
for reducing size when
your trading is cold or
when the market volume
is down.
22.
Too much confidence is
not good. Don’t forget,
your experience is not
as good as your
broker’s. You must
always expect the
unexpected, and always
know your position and
exit your trading
straight away whenever
you feel
uptight.
23.
Measure yourself by
consecutive profitable
days and not just by
individual
trades.
24. A
good way to break a
streak of consecutive
loses is to stop
trading for a
day.
25.
Conversely, don’t stop
trading when you’re on
a winning
vein.
26.
If you’re loosing,
don't turn three losing
trades in a row into
six in a row. When you
find that you are off,
just switch the screen
off and do something
else. It is silly to
stick in when you are
loosing. Try again
later.
27.
Scalpers can sometimes
reduce the number of
variables effecting
market risk by being in
a position for a few
seconds only. Day
traders reduce the
market risk by being in
trades for just
minutes.
28.
If you exchange a scalp
or day trade into a
position trade, it
means that technically
you didn’t consider the
risks of the trade
properly.
29.
Never worry about a
missed opportunity.
There are always many
other ones just around
the
corner.
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