2. Cut your losses, let profits run. Always use and trail your stop losses.
3. Trade free of expectations of being right or wrong. If wrong, accept your mistakes immediately and change your opinion and trade.
4. Synchronize your mind to the truth of the market. Market is price and price is god. Market is always right – accept it.
5. The degree to which ‘you think you know’, ‘assume you know’, equal’s to the degree you will fail as a trader. Your assumptions and knowledge is in proportion to your results and account quality.
6. Markets are most random. Include randomness in your trading plan. Believe in uncertainty (The market can do anything).
7. Don’t predict the future because no one can! Nothing creates more misery and unhappiness than unfulfilled expectations.
8. Don’t trade with fear or overconfidence. If you have fear OR overconfidence, there is a gap in your knowledge or trading plan.Always be ready to learn more and more...
9. Be rigid with rules, flexible with your targets.
10. Only focus on opportunities that provide an edge. Figure out what’s your edge? What makes you so better in the markets than others?
11. Rule no 1 – Never loose money. Do everything which will have lower risk and higher return. Work your risk / reward ratio.
Source:- CP (The Investmints).
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