- Look at your trading as a series of probabilities, do not focus on any single profit or loss.
- Want what the market wants.
- Do your homework. Come prepared to each day’s trading.
- Never take a trade on the open in the direction of a that day’s gap.
- Don't risk too much of your trading capital on any single idea.
- Remain flexible.
- Believe what you see. If the market’s going up or down, it’s going up or down.
- Anything can happen. The wildness lies in wait.
- Verify your trading methods or systems.
- Caveat emptor ("Let the buyer beware.") when buying a trading system or hiring a mentor.
- Your own personal psychology will express itself regardless of your chosen method.
- An opinion isn't worth much, your own or someone else’s.
- Watch how the markets react to the news.
- Learn from your mistakes.
- Stay in the now. Don't trade yesterday, today. Don't trade tomorrow, today.
- Don't worry about a missed opportunity. Another one is on the way. Besides there were several that just passed of which you were totally unaware.
- If you don't risk, you can't make money. If you lose all your trading capital, you can’t trade. Find balance.
- Markets don't go in a single direction. The trend will wobble on it’s way to its destination.
- The trend is your friend. Unless you're a counter trend trader, and then only it’s end is your friend.
- Tomorrow’s another day, a whole new trading opportunity. Be optimistic.
- Forgive yourself. Take the lesson, and move on.
Source: Edited Article from - http://www.ruthroosevelt.com
