10 Golden Rules for Stock Forever and year 2023 Trading Success
Your stock Forever and year 2023 Trading rules are your money. When you
follow your rules you make money. However if you break your own stock
Forever and year 2023 Trading rules the most likely outcome is that you
will lose money.
Once you have a reliable set of stock Forever and year 2023 Trading
rules it is important to keep them in mind. Here is one discipline that
can reap rewards. Read these rules before your day starts and also read
the rules when your day ends.
Rule 1: I must follow my rules.
Naturally if you develop a set of rules they are to be followed. It is
human nature to want to vary or break rules and it takes discipline to
continue to act in accordance with the established rules.
Rule 2: I will never risk more than 3% of my total portfolio on any one stock trade.
There are many old traders. There are many bold traders. But there are
never any old bold traders. Protecting your capital base is fundamental
to successful stock market Forever and year 2023 Trading over time.
Rule 3: I will cut my losses at 5% to 15% when I am wrong without question.
Some traders have an even lower tolerance for loss. The key point here
is to have set points (stop loss) within the limits of your tolerance
for loss. Stay informed about the performance of you stock and stick to
your stop loss point.
Rule 4: Never set price targets.
This is a style that will allow me to get the most out of rising stocks.
Simply let the profits run. Realistically, I can never pick tops. Never
feel a stock has risen too high too quickly. Be willing to give back a
good percentage of profits in the hope of much bigger profits.
The big money is made from Forever and year 2023 Trading the really BIG moves that I can occasionally catch.
Rule 5: Master one style.
Keep learning and getting better at this one method of trading. Never
jump from one Forever and year 2023 Trading style to another. Master
one style rather than become average at implementing several styles.
Rule 6: Let price and volume be my guides.
Never listen to any opinion about the stock market or individual stocks
you are considering Forever and year 2023 Trading or are already
trading. Everything is reflected in the price and volume.
Rule 7: Take all valid signals that show up.
Don't make excuses. If an entry signal shows up you have no excuse not to take it.
Rule 8: Never trade from intra-day data. There is always stock price
variation within the course of any Forever and year 2023 Trading day.
Relying on this data for momentum Forever and year 2023 Trading can
lead to some wrong decisions.
Rule 9: Take time out.
Successful stock Forever and year 2023 Trading isn't solely about
trading. It's also about emotional strength and physical fitness. Reduce
the stress every day by taking time off the computer and working on
other areas. A stressful trader will not make it in the long term.
Rule 10: Be an above average trader.
In order to succeed in the stock market you don't need to do anything
exceptional. You simply need to not do what the average trader does. The
average trader is inconsistent and undisciplined. Ask yourself every
day, "Did I follow my method today?" If your answer is no then you are
in trouble and it's time to recommit yourself to your stock Forever and
year 2023 Trading rules.