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Aside from psychological aspects of trading what is your #1 trading rule?
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Aside from psychological aspects of trading what is your #1 trading rule?

  #11 (permalink)
Elite Member
new york
 
Futures Experience: Intermediate
Platform: Ninja
Favorite Futures: stocks
 
Posts: 2 since Aug 2013
Thanks: 1 given, 0 received

Hold my stop loss.Not always easy

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  #12 (permalink)
Elite Member
San Francisco, CA, USA
 
Futures Experience: Intermediate
Platform: TD Ameritrade, NinjaTrader, TradeStation
Broker/Data: NinjaTrader Brokerage
Favorite Futures: ES, CL, 6E
 
Broman's Avatar
 
Posts: 9 since Aug 2014
Thanks: 6 given, 5 received

#1 - Trade my plan, not what I think.

#1.5 - It's ok to loose if I've traded according to my plan.

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  #13 (permalink)
Elite Member
Portland, OR
 
Futures Experience: None
Platform: tos
Favorite Futures: S&P e-mini, Lumber Futures
 
Massive l's Avatar
 
Posts: 1,473 since Mar 2011
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rmejia View Post
1. Patience

Same!

Psychology > Strategy ≥ Money
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  #14 (permalink)
Daytradr
Hanover, Germany
 
Futures Experience: Intermediate
Platform: NinjaTrader 7
Favorite Futures: ES
 
Scalpingtrader's Avatar
 
Posts: 1,533 since Apr 2014
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Forum Reputation: Legendary

The trend is indeed your friend - the only one in the markets, probably. So better be loyal

You can be better tomorrow than you are today.
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  #15 (permalink)
Elite Member
Germany
 
Futures Experience: Intermediate
Platform: FlatTrader
Broker/Data: GFT and Interactive Brokers
Favorite Futures: ES, DAX
 
Posts: 531 since Aug 2010
Thanks: 2,127 given, 719 received

Keep losses small - Period!

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  #16 (permalink)
Elite Member
Austin, TX
 
Futures Experience: Intermediate
Platform: F-16CM-50
Favorite Futures: GBU-39
 
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Posts: 5,830 since Sep 2013
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JonnyBoy View Post
My number 1 trading rule is knowing when to stop trading. This used to be at the bottom of my trading rules, now it is at the top as a sticky.

Same here. Know when you are wrong in a trade or on the day and get gone as quickly as possible.

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  #17 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,139 since Sep 2010
Thanks: 2,004 given, 2,930 received

Avoid Randomness.

Gut feel is random, if you say "seems like" it's random
All trades must be based on a method, not "its too high" or "it's way to low"
A lagging moving average is more accurate than your intuition.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #18 (permalink)
Trading Apprentice
Dusseldorf Germany
 
Futures Experience: Advanced
Platform: Ninja Trader
Broker/Data: CQG
Favorite Futures: NG, TF, CL
 
Posts: 13 since Jan 2013
Thanks: 1 given, 12 received

Patience and only enter the trade when I know where price is heading i.e. when the profit target is in clear view. And that must be at least 20-50 ticks on TF, CL or NG. The StopLoss then runs between 10-15 ticks.

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  #19 (permalink)
Elite Member
Prince George BC Canada
 
Futures Experience: Advanced
Platform: IBs TWS
Broker/Data: IB
Favorite Futures: Stocks
 
deaddog's Avatar
 
Posts: 603 since May 2013
Thanks: 97 given, 675 received

Have a written trading plan and follow it.

When I follow my Plan I achieve everything mention in this thread so far.

It is hard to find the Truth when you start your search with a preconceived notion of what the Truth will be.
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