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Soultrader

Jump on Board with your Trading Rules

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1. Pinpointing my entries

2. Looking for high probability setups

3. Do not overtrade

4. Scale out to hold on to winners

5. Always honor your stops

6. Don't be a cowboy. Be a grinder

7. When in doubt, stay flat

8. Stay humble

 

And on and on and on...... Who's next?

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1. Run your winners.

2. Cut your losers.

3. Never get personal about a stock.

4. Never re-visit a stock - at some point, you will lose your earlier profits.

5. Learn how to take a lose.

6. You will never beat the market - if a stock is falling, it is falling for a reason.

7. Dont trade with money you cannot afford to lose.

8. AND never try and catch a falling knife!!

 

There are many more rules to abide by...................

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  1. Follow my trading plan.
  2. Plan my trade strategy before the market opens.
  3. Be patient - wait for my trade setups.
  4. Do not overtrade (i.e., not trading is a position).
  5. Pass on a trade if the risk is too high.
  6. Obey money management rules at all times.
  7. Respect leverage.
  8. Do not trade with money I can't afford to lose.
  9. Stay out of dull, low volatility and illiquid markets.
  10. Do not trade ahead of a key economic number.

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1. Don't fight with scammers. Rather think before!

2. Use intuition, listen feelings, "what's right", "what's for me", "stay away" warnings. Don't mess with jobs you don't like or you don't feel comfortable with.

3. Stick with your profession. Be open to all ways how to share your skills and services.

4. Trust to all people you have good feeling about them, even if they don't look to deserve it.

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1. Hold to your stops.

2. Set a loss limit on the day. Mine is to stop trading after losing $200 for the day.

3. Don't try to "make as much as you can". Unless you have a well proven trade plan. More often than not you'll end up giving it back at the end of the day.

4. Set a profit target on the day. Start with $100 and slowly increase from there as you get better with your trade plan.

5. Protect Profits! As you become profitable as the day goes. Try trading less size, which in turn will give less chance of giving back all or most of your profits by the end of the day.

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1. be aware of my thoughts and emotions.

2. trade the facts, price and volume.

3. call it a day after two losers in a row.

4. reduce size after a series of winning trades.

5. keep the ego in check when I think I know more than I really do, just stop trading.

6. TAKE PROFITS when they are presented to me.

7. Always trade with a physical stop order in place, bracket the market.

8. Enjoy the weekend and not look at charts until Sunday night.

 

Here's one I subconsciously do, after a winning trade, I just take a break, go surf the net, do something else rather than bask in my glory or continue staring at the charts. Same thing when it is a losing trade.

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