Trading Position Query

Rules for Trading by Larry Levin

This rules for trading doesn't necessarily mean that you follow it religiously. One's personal comfort and the risk that is willing to be given should be more important. This rules were taken from the book "Emotion-free Trading" by Larry Levin.

  1. Always use a stop-order.
  2. After 3 losing trades in one day, Stop Trading!
  3. If I get 100 points+ profit in a trade, I will move my stop to break even.
  4. Only use signal to get into the market, Don't just take a shot.
  5. Use the Secret of Floor Traders Rules. They work!.
  6. Do not trade on holiday type volume. Too slow bad opportunities. Go outside, watch a movie, whatever!
  7. Always act with your best interest in mind.
  8. Consistently trade on long side above value and the short side below value.
  9. Always look for single ticks to help you execute your trades. 
  10. Relax with your trades. If it's not fun and enjoyable, it's not worth doing.
  11. You don't have to trade everyday.
  12. Waiting till the market shows you whether it is one-time framing or not is an excellent way to be patient waiting to find an opportunity to trade.

No comments:

Post a Comment