good to know information for new traders

[mute9003]

what information would you pass down to new traders now that you have become consistently profitable
and i dont mean generic stuff like"mindset is everything" "its all about psychology bro"

i mean technical bits of information that are good to keep in mind when trading

 

[Bastion_01]

Be nice to everyone you meet, because if you're liked, those around you might give you helpful ideas/information, stuff you don't learn from books.

 

[deaddog]

Take the time to write a plan!!

 

[KCalhoun]

Lose less than you win

Small stops

Rockstar charts

Main tech note is focus on out days and charts , avoid anything inside prior days range

 

[Overnight]

what information would you pass down to new traders now that you have become consistently profitable
and i dont mean generic stuff like"mindset is everything" "its all about psychology bro"

i mean technical bits of information that are good to keep in mind when trading

Never use stops on long positions in a 13-year bull market, and never short a 13-year bull market.

If you do, you will regret it deeply.

That's it, that is all there is.

 

[maxinger]

Do not treat trading books as if it is a holy bible.

After you have read the trading books, go cleanse your mind.
Then develop your own holy grail.

 

[Laissez Faire]

 

[Bad_Badness]

Take the time to write a plan!!

• And measure that plan's implementation.
• Measure the trades as a set, not single trades.
• Separate out the plan (risk management, etc) from the tactics (execution).
• Make changes changes to the tactics or the plan.
• Measure the change's improvements. Don't guess. Otherwise you risk never getting traction.

 

[SunTrader]

Time, price, pattern, volume

 

[deaddog]

• And measure that plan's implementation.

• 
  How do you do that?
  
  What I measure is whether I followed the plan. (Yes or No).
  If my equity curve drops then I can tell whether the problem is the plan or the trader.

  [*]Measure the trades as a set, not single trades.

  Equity curve

  [*]Separate out the plan (risk management, etc) from the tactics (execution).

  All part of the plan. the execution should be planned. What do I trade, how much to I trade, when do I exit.

  [*][*]Make changes changes to the tactics or the plan.
  [*]Measure the change's improvements. Don't guess. Otherwise you risk never getting traction.

How often do you suggest you do this?