http://www.traderinterviews.com/idealab/idea/view/the-3-golden-trading-rules The latest comments on The 3 Golden Trading Rules. Tue, 06 Mar 2012 12:21:39 -0800 en-us Copyright Ideas For Download LLC, 2006 - 2012 http://www.traderinterviews.com/images/traderinterviews_144x19.gif http://www.traderinterviews.com/idealab 144 16 http://www.traderinterviews.com/idealab/entry/view/the-3-golden-trading-rules#c145 http://www.traderinterviews.com/idealab/entry/view/the-3-golden-trading-rules#c145 Tue, 06 Mar 2012 12:21:39 -0800 http://www.traderinterviews.com/idealab/entry/view/the-3-golden-trading-rules#c92 1. Don't Lose $
2. Risk Management (Defined Entry, Defined Stop)
3. Buy Strong Stocks on Pullbacks

I've spent the last year developing my trading style and plan. It it my observation through countless traderinterviews, books such as Market Wizards, the New Market Wizards, Reminisciences of a Stock Operator and talking with other traders that if you can master these three things then the rest is easy. I believe trading is 90% mental and 10% skill. Once you can get the mental aspect down your set. The #1 quality a trader needs to have is DISCIPLINE, refering back to my ideology, PLAN YOUR TRADE, TRADE YOUR PLAN. Practice makes perfect, having a plan, outline, a framework if you will for any situation will help keep the emotion out of the trade and the objectivity in it. Take from this what you will as I am only 20 years, but discipline has taken me the distance to become a NON LOOSING trader. One I began to focus on how NOT TO LOOSE and thinking about the worst case scenario "how could this perfect trade go wrong", I began to make money consistently and profitably.

Here is a great link to some audio commentary on discipline and exerpts from Market Wizards and Japenese Candlestick Charting Techniques, just disregard the plugs for thinkorswim, although I do agree that is the best platform both on a technical and customer service level on the market today.]]> http://www.traderinterviews.com/idealab/entry/view/the-3-golden-trading-rules#c92 Sun, 04 May 2008 07:59:21 -0700 http://www.traderinterviews.com/idealab/entry/view/the-3-golden-trading-rules#c90 2. Trade setups that yield positive expectations.
3. Apply proper money management to those setups.

Now go find all the edcuation you could and study them to the point where you make them your second nature. And one more thing: traders that are sharp and consistently profitable don't waste time and dwell on negative thoughts.]]> http://www.traderinterviews.com/idealab/entry/view/the-3-golden-trading-rules#c90 Fri, 25 Apr 2008 02:07:44 -0700