Post some TRADING PRINCIPLES that might help others (Not TA or systems)

[MarkBrown]

I believe the only "trading principles" you really need in order to succeed are these 4 things:

1. Know when to enter (before you get in)
2. Know when to exit (before you get in)
3. Know (what to do) when you're right
4. Know (what to do) when you're wrong

i think the above is perfect but first a trader must know the statistics of their method like a primal reflex reaction.

before the above 1-4 should be

0. Know thoroughly what to expect out of your edge ahead of time so that you can adjust 1-4 prior to enacting 1-4.

 

[SimpleMeLike]

I believe the only "trading principles" you really need in order to succeed are these 4 things:

1. Know when to enter (before you get in)
2. Know when to exit (before you get in)
3. Know (what to do) when you're right
4. Know (what to do) when you're wrong

Good Morning schizo,

I 10,000% agree

 

[SimpleMeLike]

i think the above is perfect but first a trader must know the statistics of their method like a primal reflex reaction.

before the above 1-4 should be

0. Know thoroughly what to expect out of your edge ahead of time so that you can adjust 1-4 prior to enacting 1-4.

Good Morning MarkBrown,

You know I 10,000% agree. Expectancy calms my mental!

Knowing what to expect in the next XXX to X,XXX trades, is ultimately important to me.

Whenever I did not know what to expect in the next XXX to X,XXX trades, I would ALWAYS lose a lot of money and time and have start over again.

 

[TheMordy]

1. Meditation in order to enhance intuition
2. Don't test new ideas during your trading session
3. Don't touch phone during trading session
4. Get dressed and sit upright (not in pyjamas in bed)
5. Think aloud in order to absorb thought process
6. If no chart meets edge, just don't trade
7. Accept mentally your SL being hit
8. Don't let your hand rest on the mouse for no reason (initiates overtrading)
9. Don't waste time on ET...

 

[taowave]

More solid GOLD!!!

Love #4 and #9

Im going to do my best to get out of bed and off ET

1. Meditation in order to enhance intuition
2. Don't test new ideas during your trading session
3. Don't touch phone during trading session
4. Get dressed and sit upright (not in pyjamas in bed)
5. Think aloud in order to absorb thought process
6. If no chart meets edge, just don't trade
7. Accept mentally your SL being hit
8. Don't let your hand rest on the mouse for no reason (initiates overtrading)
9. Don't waste time on ET...

 

[deaddog]

I believe the only "trading principles" you really need in order to succeed are these 4 things:

1. Know when to enter (before you get in)
2. Know when to exit (before you get in)
3. Know (what to do) when you're right
4. Know (what to do) when you're wrong

You can narrow it down even further to ;
Know what to do next!!!
Can you answer the question "Now what do I do???"

 

[SimpleMeLike]

You can narrow it down even further to ;
Know what to do next!!!
Can you answer the question "Now what do I do???"

Good Morning deaddog,

I just made money in the ES market today because I know what I am doing.

I answer all my questions before I click buy or sell button.

That's the way to do it.

The other way is hiring 10 programmers and pay them $100,000 per year.

There is only 2 ways to get rich in ES market, QUICKLY for the common man.

 

[ironchef]

taleb's turkey problem is useful

I am a fan and,

"Fooled by randomness".

 

[schizo]

You can narrow it down even further to ;
Know what to do next!!!
Can you answer the question "Now what do I do???"

 

[schizo]

i think the above is perfect but first a trader must know the statistics of their method like a primal reflex reaction.

before the above 1-4 should be

0. Know thoroughly what to expect out of your edge ahead of time so that you can adjust 1-4 prior to enacting 1-4.

1 and 2 presuppose that you've done your homework. Otherwise I agree 100%