My number one trading rule …..
- Thread starter Tarzan
- Start date
that there are no rules........every time is a little different.........if you do not spot that difference you have lost money........new traders look for repetition and rules.....that is why they lose
yes that is correct.
buy when low but you cannot ever buy lowest......so expect it to go against you...and therein is the biggest problem for today's highly leveraged [read undercapitalised] traders
I do not think that there can be a golden rule that fits all. As traders we all learn from mistakes and from personal experiences. There are certain things which we all tend to do, but at the end of the day our personal character and personality, as well as the mindset we tend to have will affect what we do in trading. Personally I prefer to buy when it is considerably low and never be too quick to act. It is always better to think twice.
Yes. Part of the decision to make a trade (long or short) should be, "where's the logical stop"? Then evaluate that risk vs. the size of the expected/hoped-for gain. If the stop risk seems out of proportion, wait for a better entry or trade a different issue for now.
Disagree. The fill challenges of trading outside RTH notwithstanding, the price to make a trade should be determined by the chart... not the time of day. If one is trading a sufficiently liquid issue, a limit order at a logical price would be the play.
Ditto!
Every trader should be thinking, "If the market is going to take my money, it will be like being nibbled to death by ducks".