Discipline yourself

1.     Never add to loosing position.

3.     Always place stop-loss.

4.     Don't trade thin market.

5.     Nobody is bigger than the market.

6.     In a Bull market, never sell a dull market, in Bear market, never buy a dull market.

7.     A buy signal that fails is a sell signal. A sell signal that fails is a buy signal.

8.     Let profits run, cut losses short.

9.     Don't trade impulsively; have a plan.

10. Have specific goals and objectives.

11.  Accept that loosing  is part of the game.

12. To help ensure success, practice defensive money managment. A good trader watches his capital as carefully as a professional scuba diver watches his air supply.

13. Keep a trading diary - write down your reasons for entering and exiting every trade. Look for repetitive patterns of success and failure.


14. I can succeed in trading only when I think and act as an individual trader. I will fail when I trade without a plan or deviate from my plan. I have to observe myself and notice changes in my mental states as I trade. I have to write down reasons for entering a trade and the rules for getting out of it, including money management rules. I must not change my plan while I have an open position.








I need to practice conservative money management aimed at long-term survival and profit accumulation. I must observe how my mind works and avoid slipping into greed or fear.


Successful trading stands on three pillars. I need to analyze the balance of power between bulls and bears. I need to practice good money management. I need personal discipline to follow my trading plan and avoid getting high in the markets.

more to come...