Trading Journal

Basic and important rules to follow for traders and investors.

Rule No.1

Decide that you are in market for long hault , that is you want to be a trader even 20 years from now.

Rule No.2

Learn as much as you can Read and listen to experts , but keep a degree of healthy Scepticism about everything . Ask questions and do not accept experts at their word.

Rule No.3

Don't be greedy and rush to trade , take your time and learn. The market will be there offering you more & more opportunities in the coming months.

Rule No.4

Develop a method for analyzing the market that is If A happens , B is likely to happen.        Market have many dimensions use several analysis methods to confirm trades. Test everything on historical  data & then the markets using real money.

Rule No.5

Develop a money management plan. Your first goal must be a long term survival , second goal is to maintain a steady Consistent growth of capital & third goal is making high profits. Most traders put the third goal first & are unaware that goals 1 & 2 exist.

Rule No.6

Be aware that a trader is a riskiest part in a trading system. Go to a meeting of anonymous alcoholics to learn and how  to avoid losses and develop your own methos=d for cutting out impulsive trades.

Rule No.7

Winner think, feel, & act differently than losers. You must look within yourself strip away your illusions & change your old ways of being , thinking and acting.

Change is hard but if you want be a professional trader , then you have to work hard on changing.

And the End 😊