As I've been reevaluating performance thus far this year and figuring out what I've done that has worked, and not worked, I decided to revisit a list of principles I started about four years ago when I got serious with trading.
I'd love to see people build upon this including the guys with great experience here....
-Don't chase the trade -Let your winners run - Don't take profits too early -When trading volatility, exit the trade after your profit is made -Cut losses early - Don't turn speculation into "Involuntary Investing" -OTM options are cheap for a reason -Be willing to go against the crowd -The market is never wrong - On a particular day it may speak a language you don't understand -Don't spread yourself too thin -Never average losers (I believe there are caveats to this, but in general it is correct) -When taking profits on a spread trade, cover losses instead of selling winners
-The market is never wrong - On a particular day it may speak a language you don't understand
HAHAHAHA
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