Trading Rules to be Followed for becoming FULL-TIME TRADER

When it comes to Stock Market Trading there must be a difference between Professional traders and Retail traders. Professional Traders are making consistent Money in trading while Retail Traders are losing 90% of their money in the first 90 days of trading and finally blowing their accounts.

Below is the list of Trading Rules if followed and practiced then a Retail Trader can turn to become a Professional Trader.

1. Always be disciplined in Trading

• Follow your plan and rules
• Do not be swayed by your emotions to act otherwise
• Do not create excuses to break the rules – this time is NOT different

2. Plan the trade, trade the plan while Trading

• Always cut your losses according to the plan
• Always cut your profits and run according to the plan
• Separate your planning from your execution

3. Expect losses in Trading

• Losses are part of trading – accept them. This will reduce emotional resistance when the time comes to do so.
• Do not take a trade unless you are willing to accept the risk (possibility of loss) that accompanies the trade
• Accept that you will lose money on some trades
• Take your losses easily when they come
• Do not be stubborn and bend your rules

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4. Manage your emotions while trading

• When I doubt or am unsure, get out!
• Always analyze objectively
• Clear all positions to have a neutral frame of mind
• Do not act based on greed or fear

5. Focus on trading well

• The goal of a trader is to make the best trades
• Money will naturally follow
• If you focus on money, emotions will get in the way and you will not be able to make the best trades

6. Do not overtrade

• Be patient. Do not rush into a trade.
• Only trade when there are good setups
• Try to trade only during a specific time during the day after your observations.
• It is better to miss a boat than to leave on one full of holes
• One good trade is better than three bad trades
• “There is a time to go long, a time to go short, and a time to go fishing.” – Jesse Livermore

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7. Trade what you see, not what you think

• Don’t concern yourself with why things are happening
• Observe what is happening, and act on it
• Ignore the noise – tips, rumors, news, speculations, etc
• Anticipate the future, but trade in the present
• Markets are never wrong, opinions are

8. The trend is your friend

• Don’t enter just because it looks “overbought” or “oversold”
• Don’t try to catch a falling knife
• The easiest money is made trading with the trend
• Make sure you have an edge before you enter the market
• Put as many factors in your favor as possible

9. Do not repeat your mistakes

• Keep good records of your trades and thought process
• Analyze your mistakes, then move on
• Do not make the same mistake again
• Continuously improve yourself

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10. Have realistic expectations while trading in the stock market

• Do not try to make stellar returns overnight
• Aim for small consistent returns over a period of time
• Do not expect to become an expert overnight
• Trading takes time to build experience

Trust me, if slowly and gradually you implement and Practice these Rules in your Daily Trading Life, soon you will become a Professional Trader.

Thanks & Regards

Loss2Profit

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