FOCUS = Follow One Course Until Successful!
The key to trading success is Risk Management and overcoming technical and emotional issues with appropriate responses or “behaviors”.
People often ask how to quit bad behaviors. The answer is simple, but complex to deploy: “Overcome bad behaviors by replacing them with good behaviors. Good behaviors are often called “RULES”, follow them.
Trading Rules for Traders
- Only Trade Live Money While Maintaining Minimum Trade Key Performance Indicators (MTKPI).
- Only Trade 1 Contract per $3,000 in your account (Contracts Per Balance “CPB”).
- Only keep between a 6 and 9 point and Daily loss limit (2-3 Full Trade Losses).
- Only increase contracts after 20 trades at Current Contract Level (CCL) and MTKPI.
- Always reduce your contracts if you fall below CPB.
- Only trade to your limits, then STOP.
- Always Set your Gain and Stop before the trade and do not change it
- Always calculate your break-even percentage based on your Gain and Stop before entering the trade, and only take Probabilistic Profitable Trades (PPT’s)
- Always solve emotional issues with emotional solutions, NOT technical solutions.
- Always Track your trades.