My Key Trading Rules
- Accept Risk in advance.
- keep stop in.
- Focus on process not results.
- Let go of exceptions.
- Avoid Micromanaging trades.
- Accept uncertainty.
- Let go of controlling outcome.
- Surrender to outcome.
- stop trading after 3 consecutive losses.
- Take the rest of the week off after 3 consecutive losing days to regain your, focus confidence and most importantly your psychological capital
- Never turn a winning trade into a losing trade.
- Never lose more than you can make in one day. keep your losing days manageable at least 1/3 of average winning days.
- never give back your profits in the afternoon. Ifyou are up for the day, top trading turn off the computer, and go do something else. most trader give back their profits in the afternoon. you cannot be right all day long, and trading edge loses specially during lunch hours (dead zone) and afternoon.
- Obviously there are always exceptions to the rules, We are here to achieve consistency not to outsmart our system, rules, and the markets.
- No need to trade to prove you are right, this is a subconscious behavioural pattern that needs to be addressed in order to stop giving back your money to the markets.
- FOMO
Key Psychological & behavioural Rules.
- Become aware of unmet needs, subtle intention, and emotional state.
- Become ware of the feelings, thoughts, and sensations
- Don’t Trade out of boredom
- Avoid trading during dead zone & afternoon.
All Rules do not mean much if you are not in the right state of mind. A trader can break every rule in his playbook, in the heat of the moment. being able to maintain self and emotional awareness to sustain a trading state of mind, is where the power lies.
Emootional/Psychological capital is finite, and gets depleted through out the day. The key is to stop trading before one loses focus, & gets hijacked by his survival brain and results in damaging his mindset, confidence & account.
**Where is the easy safe low risk easy trade? |
**Stay aware of the trend direction HH/HL, LH/LL Swings** |
**Stop Trading after 3 losses** |
**Honoring stop. Accept Loss in advance–Surrender let go of results-focus on process** |
**Avoid Perfectionism and Micro management, Give Room for Stops* **Know when to size up on A+ high quality trades when market environment allows you to do that. |