Trading Tips

<h1>01</h1>
<h3>Do not listen to the news, and do not trade the news!</h3>
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News can be misleading. Have you noticed how, often times, when the news comes out, the market becomes rather chaotic, almost spastic? You think the price should be moving in one direction, yet the exact opposite is true? There are many underlining stories when economic news comes out that are not immediately obvious to the average trader who, more often than not, ends up on the wrong end of the trade. So stay away! You don't need the risk. Let the market digest the news and settle down. There will be plenty of opportunities to trade when the market returns to normal.
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<h1>02</h1>
<h3>Do not listen to "Financial Experts". </h3>
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They all have their own hidden agendas and their own interests in mind. Not yours. Whenever you hear someone talk about about the markets, think of them as a used car sales person. They will say anything that serves their own interests. Success in trading is not about trying to predict or time the market. It is correctly identify the prevailing trend. Nobody can accurately predict the market. Focus on identifying the trend not what anyone says. Even the "experts".
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<h1>03</h1>
<h3>Do not let yourself get swayed by market analysts and economic data or events. </h3>
They can affect your bias. All macroeconomic events and news is reflected in the price anyway. 
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<h1>04</h1>
Never try to predict the direction of the market. 
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Markets are unpredictable. Only trust the price action and your real time charts.
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<h1>05</h1>
The price is always right. 
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So only trust the price and your charts. Always!!
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<h1>06</h1>
Keep the outside world out.
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The biggest problem that keeps traders from achieving the best results is the outside "noise" that affects your mind and your bias. Once your mind is made up that, by some logic or reason, the market should go in a certain direction.
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<h1>07</h1>
Markets reverse on a dime
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So take your profits quickly. Don't let a profit turn into a loss, because you think the market will come back. It most likely won't. It is better to have a $1,000 profit in the bank than a $1,000 loss, hoping that the market will return, even if in hindsight you leave some profit on the table.
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<h1>08</h1>
Fifty percent (50%) of trading is psychology.
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Those who can better control their emotions are ultimately better traders.
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<h1>09</h1>
Break any of the above rules and you will most likely lose money.
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<h1>10</h1>
Take short breaks.
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When you are struggling or your trading is sluggish, take a short break from trading and review your past trades, your strategy, and the above rules.

You've heard the saying that 50% of success in trading is having the right mindset. Following these 10 rules is absolutely essential to your long term trading results. Ignore them at your own risk!

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