- Do not over-trade
- Do not take a loss home
- Never add to a bad trade
- Once you have a profit in a trade, never let it become a loss.
- When making a new trade, set loss idea – don’t overstay or start hoping.
- Don’t be a one-way trader. Be flexible.
- Concentrate on one pit.
- You’re trading to make money, not for fun and games.
- Add to good trades only.
- Learn quirks of all traders and brokers.
- Learn runners and brokerage houses.
- Try to avoid trading in the market in the middle of the session unless it is really busy.
- When carrying a position in the market, don’t leave the floor without leaving a stop loss order.
- Never buy rallies or sell breaks when initiating a new trade – only do this when liquidating a bad trade.
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From @freakred