Rules For Safe Trading- Part 2
Trade divergence inside related fundamental (stocks/commodities). For an example, if all base metals including zinc are moving higher or lower, see for an opportunity to sell or buy it as soon as base metals in common appear to be weakening or strengthening.
In trading, one must kiss & flirt but marry. Basically, if the deal is not going your way, just exit it. Move on. There are lots of chances waiting for you. Don’t acquire stuck up in a deal. Enjoy!
If you have failed to overlook an opportunity, don’t dash behind it. Just stay for another lone in such a large market. Remember endurance always pays.
When you are not confident, stand aside. If you are not 100 percent sure of the tips generated by your dealing setup such as Free Stock, Forex and Comex advice and its logic, don’t deal at all. Don’t plunge for sake of the trading. If you are not confident of the deal, don’t trade. It’s not required to trade each day.
No hard & fast rule to deal daily. Always get a break when you sense mentally exhausted.
Don’t deal too lots of indices/stocks/commodities at a time. It will simply confuse and diverge attention and can play havoc with the money management if marketplace goes opposite you. Master one trading market at a time and do not keep maximum than 3 to 4 open trades at a time.
Always document the deal. Write the accurate reasons behind each trade and mark and save the final trading chart of the deal done with the comments. This would assist in fine-tuning the deal setup and its logic as dealing is a continuous learning procedure and is mastered with the experience.
7. Treat dealing as a BUSINESS Earnings (profits) and Expenditure (losses). Learn to similar to losses as they are the big part of the business. In short profit emotional stability to believe a loss with no hurting your delight. Just like in every business, in the trading also slash short your losses SL (stop loss) and let the gains run (trailing stop loss).
8. Trading is neither a world science nor an art. It’s rather a ‘scientific art’. Practice, practice & practice the reason on a usual basis and include yourself.
If all rules and experts advices or tips like as Live Commodity Tips and News Alerts are followed very strictly & religiously, in the end, more frequently than not, you will finish up on the charming side. Even, if there are additional numbers of losing deals than the charming ones, don’t worry, because the pore size of all the charming trades will outshine the losing ones and will simply increase the large portfolio size.
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