My Trading rules - Very Important for traders

Rules You must follow in in order to be a successful trader. 

Rule Number #1: You Must Keep A Trading Journal 

• Write down why did you enter the trade 
• Write down you emotions.
• Put all good trades in one column 
• Put all bad Trades in another
• Remember - A bad trade is not when your wrong about the direction of the trend. A bad trade is when you don't stick to your plan. 
• Name the bad Trade Column - " Demons To Kill "

Rule Number #2:  Plan to Trade and then Trade the Plan

• You must be disciplined - Even with a trading Plan. 
• Keep a well scheduled planned time to study the markets. 
• Keep A positive Attitude no matter how much you lose. 
• Master your emotions And you have Mastered the Zero Sum Game.

Rule Number # 3: Trade High Probability Traders

• A high probability trade is a trade where there's no doubt in your decision. 
• But even those trades dont always work out, So dont place a stake based on your confidence. 
• Have you ever taken a loss? Forget it quickly. Have you ever taken a profit? Forget it even quicker!  
• Dont let ego and greed inhabit clear thinking and hard work. 

Rule Number #4: Risk Management

•  Never ever without any expectations risk more then 5% on any given trade. 
• Only Trade with genuine risk capital, and be aware of the risk of losing. 
• Avoid taking small profits and big loses. 
• This will keep you in the game - Ignore these rules  and you will fail. 

Rule Number #5:

•  Read this page before Each and Every Trading Session. Print it out and stick it on the wall. 
•  And NEVER EVER GIVE UP! ~ You can do this ! 

Also one can read my other blog about Lifestyle and self development:

http://successinsmallefforts.blogspot.in/2014/11/1-exercise-exercise-is-huge.html