100 Laws of Trading
My experience.
I started trading futures over two years ago. During this time, I went through all the circles of trading hell. I searched for myself, selected my trading style, put together a trading system bit by bit. Merged. I accumulated personal experience, bit by bit collected information in books in order to get even a millimeter closer to understanding the market. Often came close to giving up.
But I did not give up and was rewarded.
All this time I have been collecting trading advice in a notebook, which sounded from the best professionals in the world, met in classical literature and was confirmed over and over again by my personal experience.
Over time, there were about a hundred such laws, and I decided to call the notebook in which I wrote them down - the Trader's Bible.
For a professional, these are banal and obvious things. For a beginner - a lifeline. Rope to grab onto. Road signs on a busy highway. What I missed so much in the beginning. How much money, time and nerves I would save if I had this notebook two years ago ...
Today I want to share this experience and give you some motivation if you almost gave up. You will definitely succeed.
“It doesn't really matter if you're right or wrong. What matters is how much money you make when you're right and how much money you lose when you're wrong."
J.Soros.
Law 1: Never average a losing trade.
Even if it looks like it's about to unfold. Even if the deposit allows. Even if nine times averaged and earned. One day, the tenth time will come and take all your money. He will definitely come.
Law 2. Cut losses short. It's better to log in again.
Law 3. Never enter a trade without a stop loss. If you are a beginner, do not rely on your endurance and reaction. This habit will save you more than once, trust me.
Law 4. A professional differs from a beginner in the ability to wait for a favorable alignment. Do not rush. There is an endless stream of chances ahead, some of which will be quite obvious.
Law 5. Do not trade on quiet days and low volumes. Leave this time for rest and self-education. You don't have to trade every day.
Law 6. Do not rely on media forecasts, bloggers and "traders" in the comments. This is either manipulation, or outdated information, or personal interpretation of events. Observe information hygiene and learn to think for yourself. Believe me, those who really have significant information do not shoot videos on YouTube and do not argue in chats.
Law 7. To make money in the market, it is not necessary to know what will happen next. Anything can happen. This is the hardest thing to understand, but it is this kind of thinking that will lead to the result.
Law 8. All you need to make money on the stock exchange is one working model. Do not spray on a hundred techniques and systems. It's not about quantity. Find your working pattern and hone it. He will ensure your old age.
Law 9. The result of each individual transaction is random. No matter how good your analysis is, it guarantees absolutely nothing. Get into the habit of uncertainty. You can be wrong ten trades in a row even with the right analysis. And it shouldn't ruin you.
Law 10. The market can stay irrational longer than you can pay. Get out of your head the desire to deceive the market. Martingales and other “grails” shake generations of traders out of their pants. You won't be an exception, don't even check.
Law 11. After a losing trade, do not dare to recoup. Treat trading like a business, not like playing cards with a friend. Controlled loss is part of this business. Upset, angry? Turn off the exchange, go to the gym - bring the body to exhaustion. Tomorrow there will be new opportunities.
Law 12. Madness is doing the same thing over and over again in the hope of a different result. Don't repeat the same mistake twice. Write it down. Analyze. Draw conclusions.
Law 13. Do not count and do not look forward to profit in advance. Better think about how much you can lose on this trade, it's sobering. Don't count money in trading at all. All analysis is carried out as a percentage of the deposit. This will relieve stress and distract from unnecessary reflection.
Law 14. To begin to succeed, one must almost despair. Almost. But take one more step.
To be continued.
I started trading futures over two years ago. During this time, I went through all the circles of trading hell. I searched for myself, selected my trading style, put together a trading system bit by bit. Merged. I accumulated personal experience, bit by bit collected information in books in order to get even a millimeter closer to understanding the market. Often came close to giving up.
But I did not give up and was rewarded.
All this time I have been collecting trading advice in a notebook, which sounded from the best professionals in the world, met in classical literature and was confirmed over and over again by my personal experience.
Over time, there were about a hundred such laws, and I decided to call the notebook in which I wrote them down - the Trader's Bible.
For a professional, these are banal and obvious things. For a beginner - a lifeline. Rope to grab onto. Road signs on a busy highway. What I missed so much in the beginning. How much money, time and nerves I would save if I had this notebook two years ago ...
Today I want to share this experience and give you some motivation if you almost gave up. You will definitely succeed.
“It doesn't really matter if you're right or wrong. What matters is how much money you make when you're right and how much money you lose when you're wrong."
J.Soros.
Law 1: Never average a losing trade.
Even if it looks like it's about to unfold. Even if the deposit allows. Even if nine times averaged and earned. One day, the tenth time will come and take all your money. He will definitely come.
Law 2. Cut losses short. It's better to log in again.
Law 3. Never enter a trade without a stop loss. If you are a beginner, do not rely on your endurance and reaction. This habit will save you more than once, trust me.
Law 4. A professional differs from a beginner in the ability to wait for a favorable alignment. Do not rush. There is an endless stream of chances ahead, some of which will be quite obvious.
Law 5. Do not trade on quiet days and low volumes. Leave this time for rest and self-education. You don't have to trade every day.
Law 6. Do not rely on media forecasts, bloggers and "traders" in the comments. This is either manipulation, or outdated information, or personal interpretation of events. Observe information hygiene and learn to think for yourself. Believe me, those who really have significant information do not shoot videos on YouTube and do not argue in chats.
Law 7. To make money in the market, it is not necessary to know what will happen next. Anything can happen. This is the hardest thing to understand, but it is this kind of thinking that will lead to the result.
Law 8. All you need to make money on the stock exchange is one working model. Do not spray on a hundred techniques and systems. It's not about quantity. Find your working pattern and hone it. He will ensure your old age.
Law 9. The result of each individual transaction is random. No matter how good your analysis is, it guarantees absolutely nothing. Get into the habit of uncertainty. You can be wrong ten trades in a row even with the right analysis. And it shouldn't ruin you.
Law 10. The market can stay irrational longer than you can pay. Get out of your head the desire to deceive the market. Martingales and other “grails” shake generations of traders out of their pants. You won't be an exception, don't even check.
Law 11. After a losing trade, do not dare to recoup. Treat trading like a business, not like playing cards with a friend. Controlled loss is part of this business. Upset, angry? Turn off the exchange, go to the gym - bring the body to exhaustion. Tomorrow there will be new opportunities.
Law 12. Madness is doing the same thing over and over again in the hope of a different result. Don't repeat the same mistake twice. Write it down. Analyze. Draw conclusions.
Law 13. Do not count and do not look forward to profit in advance. Better think about how much you can lose on this trade, it's sobering. Don't count money in trading at all. All analysis is carried out as a percentage of the deposit. This will relieve stress and distract from unnecessary reflection.
Law 14. To begin to succeed, one must almost despair. Almost. But take one more step.
To be continued.
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