Daily Trading Rules
Most people who make money in the market agree that the answer lies in finding some simple technical analysis strategies that make them profitable.
The fact is that the transaction is not as simple as the beginner thinks. This is a career, like any job, it needs to learn the curve. Reading a book or getting some simple "tricks" will not make you a professional trader
After learning for some time, the students began to search the "holy grail" is not uncommon "
They search for more indicators, chart patterns, masters, alert services or the latest secret day trading strategies and others will be the answer to success.
But the facts here.
One of my favorite success principles is:
"Successful people do things that unsuccessful people do not want to do. "
We trade in the form of a list of" My Life Day Trading Rules ", all of which need to be done more, not market-related.
- The consistency you need is your idea, not the market. Many people on the market are frustrated because the market often behaves differently from what they expect. You can not rely on the market to keep the same. It is mainly a random walk. But sometimes, the market does set a probability scene, giving you an advantage. Your work is consistent in dealing with these probabilistic settings and is traded at each occurrence
- Like a cat, most of the beginners trade to trade. This is one of the most common trade offenses. Your job is better than the traders of other days, like a cat waiting on the brush until the right moment (your high probability setting), and then do not hesitate to jump on the transaction.
- A successful deal is just a game that does not make mistakes. Keep a list of your day trading rules posted on the wall or on your monitor and then perfectly follow these rules. You must be more stringent than the average trader. No matter how your rules violate your goals and reverse test rules, you will not deviate from your rules.
- Only when you are in the best mood state can trade. Do not trade in a situation of fatigue or emotional instability (such as fighting with a spouse or friend). Day trading is more like sports, not academia. Transactions in such a short period of time require you to make a second decision, and you spend a lot of money on adventure. Make sure your mind is clear and your emotions are together.
- Keep the details of the transaction log. I see every day trading course has a transaction log. However, my experience with dealing with students in trading shows that less than 10% of people actually use it. This is a huge mistake. You should not only record every transaction, but also record your trading experience and ideas. In this way, your log will be your "biofeedback" mechanism. Personally, this is different from me.
This 5-day trading rule is not the type of rule you may be looking for. The masses want to talk about the indicators, the price bar, where you go and where you go out the rules.
You definitely need definite objective rules about these things. However, tens of thousands of traders have these types of rules, but still because these rules are on the market behavior and continue to fail
they failed because they did not follow the rules of the more important rules on Your Behavior
If you find yourself resisting the importance of these rules to your behavior, then realize that you are one of the same people. But because the masses fail in the day, you have to let yourself separate and do something different from them.
Following this 5-day trading rule is that retailers can not do it. Not because they can not do it, but because they do not want to do it. And remember that "successful people do not succeed do not want to do".