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11 Rules For Better Trading

  
  Education
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Trading in the markets is a process, and there is always room for self improvement. So as we start the new year, here are my 11 rules that help me navigate the markets. By no means is this list exhaustive or exclusive.

Rule #1
Be data centric in your approach. Take the time and make the effort to understand what works and what doesn’t. Trading decisions should be objective and based upon the data.

Rule #2
Be disciplined. The data should guide you in your decisions. This is the only way to navigate a potentially hostile and fearful environment.

Rule #3
Be flexible. At first glance this would seem to contradict Rule #2; however, I recognize that markets change and that trading strategies cannot account for every conceivable factor. Giving yourself some wiggle room or discretion is ok, but I would not stray too far from the data or your strategies.

Rule #4
Always question the prevailing dogma. The markets love dogma. “Prices are above the 50 day moving average”, “prices are breaking out”, and “don’t fight the Fed” are some of the most often heard sayings. But what do they really mean for prices? Make your own observations and define your own rules. See Rule #1.

Rule #5
Understand your market edge. My edge is my ability to use my computer to define the price action. I level the playing field by trading markets and not companies.

Rule #6
Money management. Money management. Money management. It is so important that it is worth saying three times. There are so few factors you can control in the markets, but this is one of them. Learn to exploit it.

Rule #7
Time frame. Know the time frame you are operating on. Don’t let a trade turn into an investment and don’t trade yourself out of an investment. (more…)

Happy New Year -2010

  
Education, Life
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31964

Updated at 12:02/1st Jan’10

My New year resolutions of 2010

1. Earn more money. Money money. To support family and life.

2. Of course a good career is neccessary.

3. Without the most important aspect of life — health, point 1 and 2 is useless.

4. Above all, spiritually blessed by God.

 5. Lead a simple life. Be contended.

6. More time with family spending quality time with parents, wife and brining up
children.

7. More time with good friends and relatives. Socialize.

8. Have extra spare cash. Be charitable.

9. Have a passive income to be financially independent

10. Be a charisma person.

My New Year’s resolutions for Trading

Trade less. Exercise more patience.

Be patient, buy right and buy big.

Be sure, be not afraid.

Don’t sell out on fear at the bottom of corrections.

Only make pre-planned trades; do not chase the “stock of the day” (more…)

Eleven Rules for Traders

  
  Education
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Trading in the markets is a process, and there is always room for self improvement. So as we start the new year, here are my 11 rules that help me navigate the markets. By no means is this list exhaustive or exclusive.

Rule #1
Be data centric in your approach. Take the time and make the effort to understand what works and what doesn’t. Trading decisions should be objective and based upon the data.

Rule #2
Be disciplined. The data should guide you in your decisions. This is the only way to navigate a potentially hostile and fearful environment.

Rule #3
Be flexible. At first glance this would seem to contradict Rule #2; however, I recognize that markets change and that trading strategies cannot account for every conceivable factor. Giving yourself some wiggle room or discretion is ok, but I would not stray too far from the data or your strategies.

Rule #4
Always question the prevailing dogma. The markets love dogma. “Prices are above the 50 day moving average”, “prices are breaking out”, and “don’t fight the Fed” are some of the most often heard sayings. But what do they really mean for prices? Make your own observations and define your own rules. See Rule #1.

Rule #5
Understand your market edge. My edge is my ability to use my computer to define the price action. I level the playing field by trading markets and not companies. (more…)

Traders' Resolutions for the New Year-2013

  
  Education
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What are our top trading resolutions for 2013?

D  iscipline
R  esults
I  ntegrity
V  ictory (Over Emotions)
E  ducation

Discipline

Most traders could benefit from being more disciplined with their trading. Discipline in trading takes many forms. But it can be summarized as just doing what we know needs to be done.
For example, a common New Year’s resolution is to lose weight. Losing weight is simple in theory—we just need to eat healthy foods and exercise more. Just say no to the doughnut and yes to the salad—simple! Of course, sticking to your plan is anything but easy, which is where discipline comes into play. Just do what we know needs to be done.
If I could target only two things to be more disciplined in next year’s trading they would be:

  1. Cut losing trades: Do everything to keep losses small.
  2. Let profits run: Don’t fall prey to the fear of a small profit slipping away. (more…)

Happy Diwali

  
Analysis, Education
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Happy Diwali & Happy New Year Dear Subscribers & Our Readers, We wish U great Diwali & Great Coming New Year.

  1. Quit letting trades go through your original stop loss, you were wrong, get out. When you start hoping and stop managing your stops you are losing money.
  2. Quit over trading, only take the very best entries and trade the very best stocks in your system.
  3. Quit making up stories about why you decided to hold your position instead of taking your stop when it was hit. trade your plan.
  4. Stop trading your opinions and start trading what the price action is saying.
  5. Stop following people in social media that cause you to trade badly and lose money.
  6. Stop looking at BLUE Channels  for trading and investing advice.
  7. Stop trading so big that you emotions are more involved in your trades than your mind.
  8. Disconnect your ego from your trading. You determine your risk size and entry the market chooses whether you win or lose.
  9. Quit riding an emotional roller coaster, your emotions should stay level when winning and losing. If not trade smaller.
  10. Quit buying falling knives and shorting rocket stocks, wait for confirmation and reversal before entering.
    Technically Your’s

    AnirudhSethiReport-Team/Baroda/India

The Success Indicator

  
Education, Life
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2012 – I barely knew you.  Another year has passed and another one is ahead.  This is the single best of time year when you can begin to think about all the things you want to improve or achieve in the upcoming year.  Time management and goal achievement is all about planning.  If you’re not thinking ahead you’re falling behind.

Anyhow, I really liked this image I saw on Facebook about the difference between the way successful people view the world and the way unsuccessful people view the world. Obviously, there is no single indicator that is going lead to success and there’s certainly no holy grail to success, but I think this provides some pretty good general guidelines.  A lot of these are things I need to do some serious work on.  I hope you find it helpful and thought provoking as you plan the new year:

Successful people:
Compliment others
Forgive others
Accept responsibility for their failures
Keep a journal
Want others to succeed
Keep a “to be” list
Set goals and develop life plans
Continuously learn
Operate from a transformational perspective
Have a sense of gratitude
Give other people credit for their victories
Read every day
Talk about ideas
Share info and data
Exude joy
Embrace change
Keep a “to do” list. (more…)

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