a few notes from over the years that i have down on my "memo to self" pages, i write them in a positive way to condition myself to be what i read:
General Rules:
-I protect my account
-I follow the gappers, if the volume stays, I enter on pullback
-I play the bounces large, I nibble first to test and get in, then add…when it gets real ugly, I add bigtime..(speaking of intraday bounce only) Averaging down is not good trading - and I'm not an investor..
-I only play sub-dime stocks w/ lots of volume and lots of MM’s and lots of shares - otherwise throw chump change at the small low floaters
-I don’t make boredom trades
-I don’t chase, I wait for the inevitable dip – I am a pull-back specialist
-I don’t get stuck watching a stock all day on low volume that trapped me earlier at it's highs
-I learn from bad trades, every single one of them. I don't however complain and get negative and whine about it, that is not "learning" - that is getting out of focus and brings about an attitude of failure ( always working on this one )
-I abort bad trades immediately. Pride has no place in trading...
-I make most of my profits in the first and last hours of the day..I don't give back profits mid-day..
-I check my emotions at the door of the office..This is how I earn my living, it's business...Spend time making money rather than talking about making money...
-I am flexible...The market is always changing, the easy money of the "bubble" is not there, but every day presents possibilities, whether it's a .0001 stock, a $400 stock, a short, a long, options, etc etc...
-I'm thankful for the blessing of trading
