These are some significant trading rules that I have chosen from this book:
The Secrets to Emotion Free Trading written by Larry Levin
1- Always use Stop Orders.
I never put on a trade without a stop order.
2- After 3 losing trades in one day, stop Trading!
I want to avoid digging myself in a huge hole.
3- If I get 100 point + in a trade. I will move my stop order to break-even.
If I get decent money in a trade, I will not allow myself to lose money on that trade.
4- Only use a signal to get into the market. Don’t just take a shot.
I usually get myself in trouble if I have a feeling about the market and act on it. I’m much more successful when I use a chart formation or a technical reason to get into the market.
5- Always act with your best interest in mind.
This is something I try and do whit each and every trade I put on. I realize that only I’m responsible for my results.
6- Relax with your trade. If it’s not fun and enjoyable, it is not worth doing.
This is self-explanatory. If you don’t enjoy it, you won’t be successful.
7- You don’t have to trade everyday.
Sometimes I’ll just leave the market alone and forget about if for a day. It usually refreshes me.