Must-Remember Trading Tips

  • If your not sure and don’t have an edge, cash IS a strategy.
  • If you are on a cold streak, reduce size by 70% and tighten stops for a week.
  • Stocks aren’t people, they cant be trusted, an algorithm doesn’t care that you think you know the story or the chart.
  • Don’t be “all in” in any name, you will blow up your account.
  • It’s totally cool to change your mind right after a trade, the market changes by the minute, so should you.
  • Pick one strategy and stick to it. This may take time if you are a beginner.
  • You have to break a few eggs to make an omelet, so take losses but keep them very small.
  • I haven’t taken someone else s idea in a long time, you have just as good a chance of being right or wrong as some other putz.
  • Don’t have 15 technical indicators on your screen. Less is more.
  • Don’t trade pissed off, it will crush your P&L
  • Guess who wins when you “revenge” trade?
  • Take partial profits on the way up and raise your stops.
  • When you have three losing trades in a row, take a walk around the block.
  • Realize early that the market will always be smarter than you.

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