Every trader is subject to bad trading practices. Having a set of written rules can help keep you on track. Rules should be direct, easy to remember and not too numerous. I like to keep it around ten, it worked for God so why not, the “Ten Commandments” of trading! Here is an example of a rule set I have used.

  1. Believe! Trade from a Position of FAITH and not of FEAR

 

  1. Protect Trade Capital.

 

  1. Trade with a Stop Exit.

 

  1. Always Define and Manage RISK.

 

  1. Profits Run, Losses don’t.

 

  1. Trade in the Direction of the Daily Chart.

 

  1. Be Decisive.

 

  1. Trust Your Instincts.

 

  1. Review and Document Every Trade.

 

  1. Track Your Equity.
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