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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)
 chrar 
new york
 
Experience: Intermediate
Platform: Ninja
Trading: stocks
Posts: 2 since Aug 2013
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Hold my stop loss.Not always easy

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  #12 (permalink)
 
Broman's Avatar
 Broman 
San Francisco, CA, USA
 
Experience: Intermediate
Platform: TD Ameritrade, NinjaTrader, TradeStation
Broker: NinjaTrader Brokerage
Trading: ES, CL, 6E
Posts: 9 since Aug 2014
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#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)
 
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 Massive l 
OR/USA
Legendary /NQ Trader
 
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rmejia View Post
1. Patience

Same!

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  #14 (permalink)
 
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 Scalpingtrader 
Hanover, Germany
Legendary Amateur Trader
 
Experience: Beginner
Platform: NinjaTrader
Trading: ES
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The trend is indeed your friend - the only one in the markets, probably. So better be loyal

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  #15 (permalink)
 Abde 
Stuttgart / Germany
 
Experience: Intermediate
Platform: FlatTrader
Broker: GFT and Interactive Brokers
Trading: ES, DAX
Frequency: Every few days
Duration: Days
Posts: 533 since Aug 2010
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Keep losses small - Period!

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  #16 (permalink)
 
tturner86's Avatar
 tturner86 
Portland, Oregon
 
Experience: Intermediate
Platform: F-16CM-40
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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)
 
mattz's Avatar
 mattz   is a Vendor
 
Posts: 2,493 since Sep 2010
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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.

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
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  #18 (permalink)
sandman2
Dusseldorf Germany
 
Posts: 13 since Jan 2013
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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)
 
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 deaddog 
Prince George BC Canada
Legendary Market Wizard
 
Experience: Advanced
Platform: National Bank Direct
Broker: NBD/BMO/Questrade
Trading: Stocks
Frequency: Every few days
Duration: Weeks
Posts: 1,307 since May 2013
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Have a written trading plan and follow it.

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

"The days when I keep my gratitude higher than my expectations, I have really good days" RW Hubbard
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