As we wrapped up 2011 trading sessions and are approaching
2012, i got few words for our day-traders' and swing traders' friends, however, if you are proclaimed as fundamental analyst, never mind following words,no offense.
1. Execute on your own ideas and let time tell you what to do.
2. You are here to put $ into your pocket to pay your bills and not make "big" $ everyday.
3. Respect the (4) time frames of day and don't turn a winner into a loser.
4. Don't get married to a trade, wait for setups.
5. Scale in and out of winners and loser trades.
6. Stop holding so much DA#N Pain.
7. Don't lose more than $100 in a trade and stay tier 1 until trade is confirmed.
8. Have a defined loss limit on each trade.
9. Do not give back more than 20% of your day.
Happy new year everyone.
2012, i got few words for our day-traders' and swing traders' friends, however, if you are proclaimed as fundamental analyst, never mind following words,no offense.
1. Execute on your own ideas and let time tell you what to do.
2. You are here to put $ into your pocket to pay your bills and not make "big" $ everyday.
3. Respect the (4) time frames of day and don't turn a winner into a loser.
4. Don't get married to a trade, wait for setups.
5. Scale in and out of winners and loser trades.
6. Stop holding so much DA#N Pain.
7. Don't lose more than $100 in a trade and stay tier 1 until trade is confirmed.
8. Have a defined loss limit on each trade.
9. Do not give back more than 20% of your day.
Happy new year everyone.
