Tuesday, March 22, 2011

50 Golden Rules for Successful Trading



1. Divide your capital into 10 equal risk parts.
2. Never over trade.
3. Never place order for BUY/SELL without stop loss conditions.
4. Never let profit turn into loss.
5. Trade with the trend.
6. Never take lead you may loose heavily.
7. Never try to be over smart.
8. Don't trade if trend not clear
9. Don't follow tips only.
10. Use the right orders only.
11. Withdraw portion of profits.
12. Don't be whimsical about closing your trades.
13. Never buy a stock to get dividend.
14. Never average your losses.
15. Take big profits and small losses.
16. Sell short as often as you go long.
17. Never buy any stock just it is low priced.
18. Pyramid your trades correctly.
19. Decrease your trading after a series of successful trades.
20. Don't change your opinions during market hours.
21. Don't follow the crowd - they are usually wrong.
22. Buy on rumor and sell on news.
23. Take windfall gains when you get.
24. Keep your charts up to date.
25. Preserve your capital.
26. Nothing ever new occurs in market.
27. Markets are never wrong opinion may be.
28. Never permit speculative ventures to turn into investments.
29. Never try to predetermine your profits.
30. Never buy a stock just because it is low priced or don't sell just because it is high priced.
31. Look for reasonable profits.
32. Buy as soon as a stock makes new highs after a normal reaction.
33. Ban wishful thinking in the market.
34. Leaders of today may not be leaders of tomorrow.
35. Don't be too cautious about reasons behind the moves.
36. Trade only the active stocks.
37. Bear markets have no support and bull markets have no resistance.
38. The smarter you are the longer it takes.
39. It is very hard to get out of a trade than to get in.
40. Don't talk about what you are doing in the market.
41. When time is up, markets must reverse.
42. Control what you can; manage what you can not.
43. Big movements take time to develop.
44. A good trade is profitable right from the start.
45. If you can not make money trading the leading issues you can not make it trading the overall market.
46. Avoid partnership in trading accounts.
47. The human side of every person is the greatest enemy of successful trading.
48. Money can not be made every day in the market.
49. As long as market is acting right don't rush to take profits.
50. Never buy a stock just because it has fallen from a great high, nor sell a stock because it is high priced.

We request you to follow above rules strictly and religiously to maximize your profits in the stock market.
Source : http://www.ways2gain.com

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About Me

I start this Blog with two REGRETs, one leaving a good job in Mumbai for good firm & two, for my software selling activity. Its the medium for me to connect with my buyers, leads, viewers in general. Its not because of frustration but to exonerate myself & inform others.

I was working for a stock market's software selling firm in Mumbai. I regret leaving the job. It was good. When I understood the stock market, softwares were actually in high demand, ahead of regularly used softwares,
but they lacks in supply because of awareness & price factors precisely.

I embarked by selling just Metastock 9.0 eSignal version in Dec 2006. First order itself was disaster, got installation query, which I was unable to solve. Buyer got angry on me & posted so many warning messages on yahoo group where I used to post my software selling ad messages. People believed his messages against me. Anyway, I
apologized & sent some more crucial softwares free as repentance.

Who'd not buy a application for least price while the same is being sold as a diamond price.

I'll be continuing this about me as more to be written ...