Stacking the Trading Odds (lowering our risks)
1. Trade with the trend of the market.
2. Trade with the trend of the stock.
3. Avoid common pitfalls.
4. Use good money management.
5. Don’t forget to properly time your entry.
6. Always follow a trading plan.
7. You can use fundamentals if you want.
8. Positive attitude is everything!!
Common Pitfalls:
- NEVER, EVER, EVER trade without a Stop Loss.
- Never over leverage your account.
- Always trade with money you can afford to lose.
Helpful hints to becoming a better trader:
- Make realistic goals that can be achieved within reason.
- Accept your losses and move on to the next trade
- Trust your trading tools and your trading plan.
- Protect your profits when your position is profitable.
- Look at the overall trend (daily, weekly and monthly) and trade with that trend.
By Kipp Cohen
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