1)       Do I treat my trading/investing like a business?  Have I prepared for it the way I would for any other business?

2)      Do I have a business plan – a working document to guide my trading business?

3)      Do I have a set of written rules to follow?

4)      Am I following a regular procedure to prevent mistakes?  A mistake means not following your rules that you have laid out for yourself.

5)      Do I have a tested trading methodology?

6)      Do I know how my methodology will perform in different kinds of markets?

7)      Do I know what kind of market we are currently in now and what to expect from my methods in such a market?  Should I be trading these markets?

8)      Do I trade with exact exit points that are preplanned for every trade (position) I take?

9)      Have I developed specific objectives for my trading/investing?

10)    Do I understand that I achieve my objectives through a POSITION SIZING METHOD?   Have I developed a specific position sizing method to meet my objectives?

11)   Do I truly understand the importance of all the questions mentioned above?

12)   Do I understand that I create my own trading/investment results through my thoughts and beliefs?

13)   Do I accept full responsibility for that creation?

14)   Do I regularly work on myself to make sure that I follow the very important points (questions) above? (more…)