Trading Rules

Discipline is not something you do 9 out of 10 times or only when you feel like it, it’s something that must be enacted 24-7-365. In trading, breaking your rules “just this once” is a recipe for disaster. Don’t kid yourself, if you want to be consistent trading the markets you must remain disciplined every single day both in the trades you take and in your afterhour’s analysis. The more diligent and thorough your attitude towards the markets, the faster…

Here is a comprehensive course of Technical Analysis including Candlesticks, Elliot Waves, Market Profile and Capital Flow. Enjoy.

As the end of the year rolls around, volume tends to diminish as traders go on holiday. Now is a great time to look back across the year and reflect on things you have accomplished, set goals for 2010, and improve your trading as a whole. Below are some things you can do as the New Year rolls around to improve your trading… • Review your current year goals and evaluate your over/under. • Create new goals: Push your limits, get…

Treating trading as a business with the objectives, goals, and guidelines clearly laid out will not only help keep things organized, but allow for less emotional involvement during tough market conditions. Defined entry and exits need in place for when to take losses and profits. Protecting profits while limiting losses is the name of the game, remember the bottom line, we’re in this to make money. Being diligent and thorough with your trading, and keeping detailed records will be a…

One of our rules we use is to NEVER trade the first 15-minutes of the market. This is because many times noise and false moves take place in this time. For open positions, if a stock gaps down below the established stop, wait for the first 15-min bar to fully form, and then place a stop underneath the low of that bar. More often than not the stock will gap below your hard stop then rally in the first 15…

To newer traders I can offer 3 things… Get a journal and record everything. Develop money management skills for both trading and the rest of your life. Never stop learning, read anything and everything. Great books: Jesse Livermore’s Reminiscences of a Stock Operator Jack D. Schwager’s Market Wizards and New Market Wizards Japanese Candlestick Charting Techniques by Steve Nison Trading For a Living by Alexander Elder You have no control over the markets, you can only control yourself. The market…