My List of 20
My list of 20 reasons not to let my emotions trump good logic.
- A back tested method that’s better than 50% win rate along with a a healthy win/loss ratio can and will grow an account size very quickly.
- After a trader back tests their method, the average amount of points it makes per trade should be the daily goal.
- Chasing for more points will lead to over trading, and only adds more exposure to risking previous profits.
- A trade that works should never be taken for granted, it needs to be managed well without any bias to direction.
- There are an infinite amount of possible trades to take in any market, which is an infinite amount of opportunities to be exposed to risk.
- Limit exposure to risk by only taking trades within the trading method.
- Not every trade is going to work.
- Never risk more than 2% per trade.
- Never take profit for granted, easy come easy go.
- Document trade while in the trade.
- If the method is too complicated to remember, it will not be followed.
- If you have more than one type of trade, you have more than one trading method.
- Technical Analysis and a method is not the same thing.
- Your biggest winner will never be as big as your biggest loser.
- There are plenty of days to trade in a week, month, year.
- Use indicators to only indicate, not to trade with.
- Know how many points you should average in a day, month, year (Back tested method)
- Trade with realistic expectations.
- Account size does matter.
- Take pride in following method, profits will follow.
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