|
PureBytes Links
Trading Reference Links
|
Some handy tips.
Everyone has heard "don't over trade your account". In real English
this means if you make 5 trades a day then only make 2 from now on.
If you make 20 then only make 5 from now on. This way you are really
careful about when you make a trade. I recite this one at 8:25am CDT
each trading day ten times before the market opens.
How about when you hear don't put all your eggs in one basket. This
means if you are trading futures with as many contracts as the margin
department will allow then, in real English, it means cut that figure
down to less then 30% forever. So if you can trade 10 contracts then
never trade more than 1 or 2 or sometimes 3 contracts.
This one is really handy. If your success ration is less than 50%
successful trades THEN GET A JOB and quit trading.
Additional tips. Don't drink alcohol. Exercise every day until you
heart beats fast and you are winded. For most of us this only takes a
minute or two a day. Don't allow any distractions during the time 30
minutes before the market opens until it closes. No phones, no
visitors and no knocking on the door.
If you keep a container by your desk to relieve yourself during
trading hours then you need to quit trading and see a shrink.
If you are not a successful trader then quit until you get better.
BETTER think about that one a bit now.
--
Best regards,
Jimmy mailto:jhsnowden@xxxxxxxxxxxxx
|