30 short trading advices on my thirty

From time to time I meet with quite surprising identifying effective strategies, with something that needs to be complicated, secret, etc. For years I trade using the simplest assumptions of technical and volume analysis – I recognize the simplicity and this brings effects. Why to it mix up?

The strategy not has to be complicated. However, a human psyche is complicated, and likes to combine, even too much.

In the following article you will find 30 trading advices, which at first arise in my head, when somebody ask me about bases behind which are results on the stock-market. Why 30? And the reason is that I recently turned thirty, so I post such reflections on the paper.

Everyone CAN start playing on the market and earn; everyone under condition that wants and is able to realize simple signals and assumptions. At the same time he would have to identify with principles, which will would him to develop in trading. Below I place the list of my advice, which fully refers to my approach to trading.

30 trading advices from me

Don’t predict, but REACT to what is happening on the market.
Don’t compare yourself to other. It is a common mistake, especially in trading rooms where traders can see their results. Play your own.
Be flexible in attitude to the market, but also consistent with regard to your strategy. The market is changeable, that what in the morning indicates to a strong fall soon may entirely change.
Understand that losses are a part of this business. However, remember to keep them commensurate with processed profits. This way you will only on the green side of the power 🙂
Cut your losses quickly and definitely. Enough well I described it in the article “Why stop loss is so important”.
Don’t waste your time for searching the golden mean, seeks a gap where the hedge is whole, moving from one flower onto another one. Choose such a strategy, which you feel the most that reflects your character traits. Try to work it out.
Learn trade both on increases and decreases. Develop your market chances.
Analyze your plays. Conclude lesson by choosing the best from it, and eliminating repeated mistakes.
Withdraw generated profits. Depending on your needs and size of played positions – keep an appropriate level of deposit, constantly paying the surplus. This way you will feel the taste of money, which you earn. And bad series won’t let you losses larger than established.
Concentrate on companies that meet your assumptions in relation to risk aversion.
The fact that on the given day there is a great changeability on the market, and your trader-friends earn – doesn’t necessarily mean that you have to earn on that day. Concentrate on your playing.
Risk appropriately more when you can see that the market is conducive to your strategy. The steady market compensates much more.
Never trade from boredom. Learn that lack of opened position it’s nothing wrong.
Remember that emotions rule the market. Never say that the company already dropped too much, or higher won’t increase. Below you have a perfect example:
Use of tools that will let you more quickly search of signals up to opening the position (peculiarly this regards daytrading).
Rest from the market. In every work holidays are needed. It is no different in trading. It may also concern the recovery period, where sometimes the man is tired. I invite you to read – “Why vacations from trading are needed”.
Trade patterns, rather than companies. It will let you in a longer time to remain on the market. Companies may change – the ones which had a great turnover could lose it, the same as with changeability. However, Patterns you can play constantly with changing symbols.
Trade such sizes of the position which don’t affect your emotions. Don’t let emotions precedence over common sense. It is in fact the shortest way to clear the account.
Establish your maximum level of daily loss, after which you will exclude the platform and you won’t by force try to play back. Remember that there is also a day tomorrow.
Establish so-called loss from top. If you have a successful session, and you start to give the part of profits back, then you must say stop at some point. In my case when I give back 25-30 % from a good result, I make a break or finish the session.
Above all, require the work from yourself. All trainings, articles, advice – it can be only a base. Results already depend only on you and you will be responsible for them.
Don’t shift the blame on somebody else, ugly market, bad weather or fly in the room that irritates you. From every losses try to take some lesson out.
There are some boring session days, when there is no changeability, when you don’t have signals. If in the first hour/two of session I do not see anything interesting – I finish trading and I enjoy the family life. The stock exchange won’t disappear; there will be a new day, during which many interesting signals may appear.
You aren’t able to take advantage of all opportunities on the market. When one day you don’t know “in what to put hands”, because so much is happening on the market, try to focus only on a few chosen symbols. Better to choose fewer, but to better use, than to concentrate on a gigantic number of symbols and after all not be able to manage them adequately.
Skip expensive, media companies about which all newspapers write. Why? On them you will usually loss. Concentrate on a specific niche and be best at it.
Learn from the best. Conclude lessons from other advice, even those simple. On the Internet you can find an enormous number of traders, who share knowledge, session recordings, and reflections. There is always something to improve in our trading. Even very good trader is able to omit the minor mistake, which elimination may much affect good results.
Below I post a few videos, which in my opinion contain many valuable contents. I recommend listen to – despite the fact that the whole takes a few hours most probably.
Not trade on and off. If you don’t have time on the given day on trading, simply let it go. Otherwise, you may by force search for signals, at a time when you turn on your computer.
Don’t speculate “if I held this position longer I would earn 10 k$ more”. That’s right, but you could also lose. Remember to follow with your assumptions. Above average changes are rare.
Make notes. Thanks to them you will be able to check what is changing in your trading, what mistakes repeat (and that is mainly the reason of your losses).