Trading Rules

Decided to document my trading rules so I stick to them. This list is an evolution in progress and does not represent any sort of advice!

1) Never attempt to ride a rally because the price has spiked despite indicators being exhausted

2) ALWAYS wait for the next 5 minute candle. Do not predict where a candle will finish.

3) 3 losing trades == You’re done for today. Period.

4) Never close a trade on one direction then immediately open in the opposite. Wait for market to confirm next move.

5) Always consider a Stop Loss that is wide enough to consider fomo spikes

6) Always set a Stop Loss at breakeven once confirmation of prediction has occurred

7) Confirm prediction with at least 1 other timeframe. 2 additional time frames is better.

8 ) Don’t open a trade towards the end of a session because you might miss out. If you’re considering sleeping only aim to close existing trades not open new ones.

9) Do not set a daily earnings target. Trade with the market not with the dollar sign.

10) Emotional decisions suck, don’t do it. If you’re emotional your risk is too high. LOWER YOUR RISK.