Trading Rules
1. Only take trades that are suited (entry point is logical), and if my mind is clear (didn't revenge trade).
2. I take my stops when I'm supposed to.
3. If I lose money twice in the same stock, I stop trading it for the day.
4. Exit a position if I'm negative after 10 minutes.
5. I'm done for the day if I have 3 consecutive losing trades.
6. I'm done for the day if I am down more than 2R.
7. I sell partial upon reaching 2R.
8. I higher my stop to entry point after being +1R.
9. I take the first trades with smaller profit, 1R-2R more or less, to build confidence.
10. I don't leave a position open un-noticed.
11. The trend is my friend.
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Trading with positive attitude, knowing I'm going to be able to leave work and trade for a living.
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7 comments:
מה קורה? לאן נעלמת?
משום מה ממש לא הולך לי לאחרונה, אז אני סוחר בכמות של R = 25$
ומנסה לקחת דברים באיזי, אחרי הכל השוק יהיה פה הרבה אחריי..
בכל מקרה אני מרגיש על הפנים בקשר למסחר שלי לאחרונה, שברתי כל כך הרבה חוקים, וכל פעם שאני שובר את החוקים אני מפסיד הרבה כסף, אז אני כרגע מנסה להירגע קצת, לסחור קצת, לאט לאט, בלי להיסחף, כי אז אני פשוט מפסיד יותר ויותר..
כן אה? משום מה, לצערי זה מוכר לי מאיפהשהו
Exit a position if I'm negative after 10 minutes.
This rule is questionable. Could lead you to take too many unnecessary losses which in turn would mess up your confidence.
Well I guess it was a rule that I invented in the bad times, it's just that.. every good trade I make just goes my way right away, and every bad trade I make keep falling down bit by bit, and eventually hits my stop loss, so I just though I should put a rule to prevent it, do you really think its a bad rule?
Hi Tomer,
Just found your blog today thorugh Trader x's blog, I think it's a great idea. I'm also an Israeli. I actually lived in LA until now and I;'m coming back to Israel next week. I have been trading/investing for the past year after taking endless amount of courses. I found out that it's best to stick to your rules and make sure you test them all the way before you even think of changing it. In any case I will follow your trades and maybe create my own blog as well. Take care for now and good luck with the trading.
Dash,
Elad (fellow addict)
Hey Elad nice to see that you're in the addiction as well :)
Please do open a blog so you could manage your diary and get more knowledge from people around you in the community :)
Tomer
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