Never trend when you are anxious, jittery or too tired. Go outside and talk a walk or a power nap.
Don’t buy with the masses.
Have a full plan before
Entry
Exit
Stop loss
Take profit or target
Stick to the plan, discipline is the key to success.
Change the plan if it’s not working!
Always keep attention to your emotional state. Are you doing a trade rationale or emotionally?
Keep a even closer attention to the triggers that makes you anxious or any other feeling that might impact your trading.
Don’t focus on the % only, but mainly if your strategy is working! Than you can work on improve the %.
Pay attention if you are feeling fear, scared, doubtful, guilt or regretful. If you are, go outside for a while or any other strategy to stop them. Don’t be dominated by them!
If you have done a mistake and you are feeling down, take some minutes or hours off trading, then came back and analyze what went wrong and if necessary create a new rule.
The market doesn’t care about your thoughts, wishes, desires, or feelings. Don’t allow that any of these four things be in your trade. You should analyse the market without any expectation, hope or feeling.
Don’t think you are going to make money if you keep buying against the trade. Read rule number one everyday!
Only because you won once doesn’t mean you will win again, don’t get cocky or over confident. Be humble and avoid creating false hopes.
Face each trade as being the first, be cautious, but bold, be humble, but confident.
When you are trading use a stick note on the screen to help you keep in your mind what are you doing, what’s your plan, etc.
