- Take no trades without establishing a complete and precise trading plan before the initial trigger.
- Keep an open mind for new market scenarios based on what the price action and pattern setups provide.
- Always trade with the trend.
- Once I am in a trade, stick with the original plan for target and stop-loss – Don’t panic!
- Make every trade meet the strategy requirements and what happens from there is up to the market.
- I need to exercise greater patience in both buying and selling.
- Be more willing to take a position, even if it is very small. It is tough though to gain the confidence to do so as the market has been tough.
- I am NOT going to overtrade. I will only make “A” trades.
- Don’t ever force a trade, stay in cash when unsure.
- I resolve not to violate my stops.
- Wait for opportunities instead of looking for trades.
- Do not make a move until your indicators say so.
- Follow this important Gartman rule: “Do more of what is working and less of what is not.”
- To clarify my trading approach in my mind and in writing.
- Be dispassionate and thoroughly objective when evaluating positions.
- Do not be afraid to cut a loss, even if the trade is later re-entered at a higher price / better set-up
- Never trade on impulse.
- To memorize and practice the cardinal rules of trading.
- Only trade when you can pay very close attention or exclusive attention to the market.
- Dedicate more time during non-market hours to prepare for trading.
- Take emotion out of my trading. Follow price action.
- I need to overcome my unreasonable fear of the market.
- Try to avoid personal bias in making decisions.
- Wait for pattern to work out – do not jump the gun.
- Don’t be in such a damn hurry. Wait out the times when the setup is just not there.
- Avoid buy and hold in times of high market volatility.
- Actually ignore the news and trade the charts! It’s harder than it sounds.
- Don’t force the trade. The market will open again tomorrow and there will be new opportunities.
- Don’t turn a trade into an investment. Continue to focus on price action.
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