This page is a repository of rules by which I trade. They don't represent a complete trading plan, per se, but rather a collection of maxims that are to become second-nature in my trading. These rules are inviolate and unbreakable. It is a living list that will grow as time goes on.
- Never let a winning trade turn into a loser.
- A stop loss only moves one way - in the direction of the trade.
- Plan your trades. Trade your plan.
- Keep records of your trading results.
- Don't trade others' tips.
- Never open a position without a stop.
- Never trade out of boredom or anxiety.
- If the market doesn't act as you expect, get out.
- Never add to a losing position.