Here’s Some Do’s and Dont’s You Should Adopt in Your Trading Career

1) Do not waste any time at all on forums. Not only are they full of “wannabee” pretend, paper traders, you can often get talked out of your positions if you start believing their opinions. No matter what the trend IS doing I’ll guarantee there will be plenty of “proof” the trend is wrong and it will end. You are wasting your time here and worse…you might get swayed by opinion.

2) Ignore day to day gyrations. You can never convince me otherwise. Day to day movements are random. Stocks trend. That’s how we profit, but day to day….they are going to play all kinds of tricks on you. Trade of weekly charts. Sure weeklies too are random. but we use our stops to exit not the gyrations. Simply look at the weekly stock price chart and straight away you will see how smoothed out the random, day to day noise really is.

3) Do all your trading end of day. I used to spend all day watching my stock prices go up and down. Kind of like a slot machine. It’s becomes addictive. But you must break this habit.Not only is it a complete waste of time but again, you might make a silly decision if you see your stock falling that day. Simply chart the prices end of day and adjust the stop. 5 minutes a night and done. This is about free time, less stress, AND making profits.

4) If you want huge rewards you have to take huge risks. If you want to make huge gains trade in one stock at a time. BUT you will either make 100%+ or lose it all. It’s a gamble really. More then likely the latter. So that’s too risky. If you invest in 10 at a time your equity curve and drawdowns will be much smoother. Depending on your risk tolerance invest in 6 to 10 stocks at a time for the bigger gains. Expect 12%+ drawdowns from time to time.

5) You have to have 100% faith and discipline in your system. If you are 12% down at one stage you need to faith to stick to it. If you don’t and abandon it you are probably doing it at the worse possible time. Stick to one system you have 100% faith in.

There is an excessive amount of traffic coming from your Region.