Thursday 26 March 2015

My Trading Lessons

Thursday 26 March 2015
  • Trade what you see, Not what you dont see. 

  • Prices will do what they do, its our job as traders not to predict anything - but react accordingly. 

  • No ones opinion counts. The Markets will do what it will do. Just follow the prices and dont worry. 
  • Its Important to not have one's opinion about the market get in the way of maximizing profits. Follow the trend! 

  • My personal view is that the economy shoudnt influence by trading decisions. 
  • I learned not to be swayed by other, but to trade my own view. 
  • If everyone is worried about the same thing, it has most likely already prices into the stocks/ market it concerns. 

  • Dont Listen to the news. The Market dosent care what you or anyone else thinks. 

  • Markets have and continue to outsmart some of the brightest. 

  • The most important thing ive learnt is that you need to trust yourself. 

  • Trading without a carefully  constructed plan is a sheer folly. 
  • Markets are not casinos where you throw a quarter and expect luckily to get rich. Trading is a business and as a business you need to have a plan and follow it religisously. 
  • Failure to plan is planning to fail. Stick to your trading plan - Know your rules and follow them. 
  • Cut losses and admit defeat when appropriate. 
  • know my plan before making any trade and where im going to exit if im wrong. 
  • Risky and reward must be evaluated before every trade. Lost opportunities are easier to make up then lost capital. 
  • I learnt that I am my worst enemy when it comes to trading. 
  • Luck and randomness plays a larger role in outcomes then previously thought.
  • Separate trading biases from longer term goals. Sometimes you really need to SET IT AND FORGET IT. 
My Trading rules, Read this every morning before trading 


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