It's always important to have a set of trading rules that can help me stick to the "plan." A plan is essential and without a plan you're destined for failure. Casinos have a plan that they stick to which is called the edge. Without the edge, the casinos wont be in business but it this edge that has them making loads of money off of suckers.
In the same way, professional traders started with a plan and stick to the plan daily when they take money away from amateur traders who have no idea how to be disciplined. Treat this as your business and you will see money flow in.
1) Study, study, and study.
2) Log every trade that you get into and see what you did right/wrong in that trade.
3) Cut losses short, and let your profits ride. At the same time, keep greed and fear out of the equation. It is much harder to do than speak of but it is possible.
4) Keep "hope" and "wish" out of dictionary. Also, the only place where success comes before work is the dictionary.
5) Don't listen to me or whatever else anyone has to say about the stock market. Form your own opinions, these are my thoughts on the market. My plan is what works for me. Make your own and stick to it. Don't break the rules.
