More important than any entry system….Money management and trading psychology are much important
Keep Losses Small…
Trade with stops
Trade in the direction of the trend
Doubling down is a sure way to lose money and blow up
Trade with a complete plan knowing exactly what to buy/sell…how much to buy/sell and know exactly when the trade does not work…
Trades do not have to work…That is why you have stops
Lighten up on positions before “expected” news announcements…
These simple rules will help you in your progress of trading. They help me…just writing them down reinforces them for me….
Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts, commodity options or forex can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results. You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.