- Thou shalt have no opinion other than price action.
- Thou shalt not make for yourselves any prediction, forecast, hope, or fear that causes you to trade against the market’s trend.
- Thou shalt not deviate from your written trading plan or trading rules.
- Remember your original stop loss to keep your losers small.
- Honor your entry and exit signals so you can trade long term and enjoy profitability.
- Thou shalt not risk ruin by trading a position size that could destroy your account after consecutive losses.
- Thou shalt not deviate from your trading style and methodology.
- Thou shalt not steal trading ideas, for you do not know their position size or time frame.
- Thou shalt not make trades based on opinions or emotions but rather based on quantifiable facts.
- Thou shalt not covet other trader’s returns, methods, or winning streaks. Each must trade what fits their personality, and follow their own path to trading profitability.
Saturday, 9 May 2015
The 10 Trading Commandments
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