Tuesday, January 10, 2006

TRADING RULES


Stock Trading Rules-

Only trade when you have an attainable goal and a stock setup with a plan.
Always use a protective stop loss, and never move your stop loss away, only tighten.
The closer you get to your days profit goal, tighten your trailing stop.
If you are wrong about your trade, get out, and don’t re-enter until you’ve re-evaluated why you were wrong.
Never execute a trade without 100% confidence in your stock setup.
Never trade on margin until you know WTF your doing.
Keep a journal of all your trades to review your strengths and weakness'.
Categorize the type of trades you do best in and worst in.
Don’t trade until your system has proved successful through paper trading first.
Keep track of how many hours a day and week you spend studying the market.

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