Note: Consistent success in financial markets requires a personalized trading strategy
*A method that specifies the type and amount of patience
*Entry and exit points
*Your customized psychology plan
*Risk management program based on your personality
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Trading Rules:
Keep Trading in Perspective:
It is important to stay focused on the big picture when trading. A losing trade should not surprise us—it is a part of trading. Likewise, a winning trade is just one step along the path to profitable trading. It is the cumulative profits that make a difference. Once a trader accepts wins and losses as part of the business, emotions will have less of an effect on trading performance. That is not to say that we cannot be excited about a particularly fruitful trade, but we must keep in mind that a losing trade is not far off.
Setting realistic goals is an essential part of keeping trading in perspective. If a trader has a small trading account, he or she should not expect to pull in huge returns. A 10% return on a $10,000 account is quite different than a 10% return on a $1,000,000 trading account. Work with what you have, and remain sensible.
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