Golden Rules to help you achieve your financial goals
1. Follow the trends. This is probably some of the hardest advice for a trader to follow because the personality of the typical trader is not 'one of the crowd.' Equity Traders are highly individualistic; the markets seem to attract those who are. Very simply, it takes a special kind of person, not 'one of the crowd,' to earn enough risk capital to get involved in the financial markets. So the typical trader and the typical broker must guard against their natural instincts to be highly individualistic, to buck the trend.
2. Establish your trading plans before the market opening to eliminate emotional reactions. Decide on entry points, exit points, and objectives. Subject your decisions to only minor changes during the session. Profits are for those who act, not react. Don't change during the trading day unless you have a very good reason.
3. Follow your plan. Once a position is established
Read More at
http://www.squidoo.com/golden-rules-for-traders
No comments:
Post a Comment