Yesterday I was reading the book staying out of Trouble while trading currencies.
It gave again in sight of what trading is and discipline in trading. And below are the bullet points that every trader must aware of before he/she puts the trade.
The secret of success lies not in buying at the lowest possible price and selling at absolute top. It is the avoidance of Large Losses !!!!!!
Rule1: Keep long term prespective
Rule2: Be Prepared for corrections
Rule3: Use the confirmation approach
Rule4: You can never have too much confirmation
Rule5: Don’t invest to much on breakouts.
Rule6: Don’t try to tell the market what to do.
Rule7: Always trade with stop loss
Thank You !!