- If you’re out of balance, you’re going to make bad decisions, and trading the market is a decision game
- If you’re overtrading, you’re out of balance
- If you’re overcommited, you’re out of balance.
- If your dollar risk is too high, you’re out of balance.
- If you’re hung over, you’re out of balance.
- If you’re sick, you’re out of balance.
- If you need the money, you’re out of balance.
- If you make too much money, you’re out of balance.
- You’ve got to take time off. You can’t trade every day.
- Pay more attention when you account size gets bigger
- I’ve noticed over the years that when my account has been small for whatever reason, I have been really careful with it. I watch it like a hawk. When my account gets rich, I tend to fall into a habit of neglect. I’m making money. I have profits, and I’m more comfortable. I don’t keep as close an eye on it. That’s very foolish.
- Take profits out of your account
- You should spend some profits rather than letting the money stay in your account indefinitely. That’s been important to me over the years. I withdraw money from time to time and take a vacation or buy a new car. From a behaviorist’s standpoint, it gives a sense of reward. It provides conscious and subconscious motivation.
Archives of “Windows games” tag
rss21 Trading Rules for Traders -ANIRUDH SETHI
1. “The key to this game is finding an entry spot that is as close as possible to where you would be wrong on the trade idea.”
2. “If you are bullish when you look at a chart. Turn the chart upside down and see if you are bearish for extra confirmation. If you are, pull the trigger.”
3. “If you take profit for no reason than that you have a profit and don’t want to lose it, you are a cunt.”
4. “Why do you fucking insist on selling when the market is red? Are you some kind of cunt? You buy on red. Sell on green.”
5. “Double tops and bottoms can be very profitable opportunities if you trade them AS they form.”
6. “You’re buying just because there’s a “psychological” round number? Are you some kind of fucking cunt?”
7. “You have to act on your intuition. If you get a strong feeling about a market – even if you are not sure completely why – act on it. But know that feelings can be wrong and be quick to act if the market does not confirm your intuition.”
8. “There is no such thing as a price that is too high or a price that is too low.”
9. “You need to grow a pair of balls when your position goes onside. There is little point in calling a top or a bottom only to take a few points. You have to be able to hold a position.”
10. “If you can’t make a decision, leave your trading desk and take a break. Take a 10 minute walk around the block. Come back and sit down. Close your eyes and take a few deep breaths. Open your eyes and immediately do what you think is best. “ (more…)