i've got some from my own list i can add...some of these might not quite make sense to the newbie, but the principles behind them should...they are also quite different from those of a longer term holder, so they don't apply to all in some cases..some things i've learned and remind myself of:
-ALWAYS PROTECT YOUR ACCOUNT - don't put all your money on one issue, one halt and you are done...
-LOCK IN PROFITS - u can always let some ride free
-DON'T CHASE ( if u do, you'll prolly be buying my shares ) - u can always wait for the dip, the inevitable dip..and if that does not come - there's 10 more trains leaving the station soon enough
-DON'T MAKE BOREDOM TRADES THAT BREAK YOUR OWN RULES
-TAKE A BREAK DURING THE TRADING DAY - some of by worst trades have come after a very good or very bad trade where i either felt invinsible or angry - and either state of mind will kill u in the market..
-DON'T GIVE UP ON HIGH VOLUME STOCKS - if the volume is great, time and time again these stocks will run and run after some consolidation..
-DON'T THROW GOOD MONEY AFTER BAD - i'll leave that up to interpretation - but suffice it to say the only time i average down is during a 5 minute period on a bounce ie - dlgi yesterday lol..
-EVERY DAY IS A NEW DAY - if u have a bad day, learn from it, re-examin your trades and where you messed up and do better the next morning
-TAKE MONEY OUT OF YOUR ACCOUNT (PROFITS) EACH MONTH AND PUT IT IN A SAFE PLACE...
-LOSE THE EGO...this is a big one, pride can cost u much...the markets have a way of humbling those who get a large head..
-I HAVE SEVERAL SPECIFIC DO'S AND DONT'S THAT ARE JUST FOR ME AND MY TRADING STYLE - make up your own rules that work for you and stick with what is working..
-HOMERUNS ARE GREAT - but singles and doubles and bunts can get the job done and don't require so much luck..
-LEARN TO SCAN TO FIND STOCKS - if you don't you are relying on others to do the work and they will get most of the reward
-MAKE SURE U ENJOY - if you don't enjoy trading and find yourself in a 1/2 state of panic, maybe this is not for you...it takes a certain type i believe : )
well - off the top of my head, there's a few...
i'm consistently learning and growing even after 10's of thousands of trades and have not "mastered" anything...but hope this may help a trader or 2!
