The trader's ritual
I will tell you about my 8 trading rules that I read every time I go trading. These are my mantra literally, my ritual stage to put me in a psychological situation to trade and simply check during the day if I am still able to trade.
The Trader Mantra
The term mantra in Sanskrit means the tool of the mind (manas) and the suffix -tra protection, hence the commonly accepted definition of protection of the mind. I use it to protect my capital from myself because I think that the greatest weakness in a beginner or experienced trader (who theoretically master his technique, money management, indicators ...) is itself. We always go back to basics, how to manage stress, tension, how to stay lucid in trading? I analyze all day the price curve but also the evolution of my emotional state. If one of these rules is no longer respected, I stop trading, end of the day.
Trading rules as a crazy guard to overcome its weaknesses
The strict application of these principles of trading has metamorphosed my results. These rules are not exceptional or very original but since I apply them to the letter my results are much more regular and consistent in terms of earnings. The objective is absolutely not to propose a unique framework that could apply to every trader, we are singular with our own psychological reactions, affects, personal relationship to money, equity ... These rules are adapted to my personality, my problems of trader, my financial surface ... These are psychological and technical means that I put in place to try to find solutions to fill my gaps, to avoid repeating the same mistakes ... and fine spend in the 10% of traders who earn regularly on the stock market.
Adapt your own rules to your trading and trader personality
You may find yourself in certain rules, others will seem absurd, but it can give you ideas, ways to create your own rules, your personal commands ... It is before all a difficult reflection because it you You will have to really look in the mirror, list all your recurring mistakes, find a way to get around them if you can not improve, in short do a real thorough job, accept its weaknesses and see how you can accommodate them with your trading to minimize their negative consequences on your trading results. This is surely the hardest job for a trader to do, but also the most lucrative financially and personally.
List of my 8 personal trading rules:
Rule Number 1 Trading: Do not lose money
Trading Rule Number 2: Reread Rule Number 1
Trading Rule Number 3: Always Have a Rescue Solution
Rule number 4 trading: trade only in good shape
Trading Rule Number 5: Think for yourself
Trading Rule Number 6: Control Your Losses
Rule Number 7 Trading: Do not force yourself to trade
Rule number 8 trading: do not respect the classic rules of trading