1. Remember why you’re trading – to make money and preserve capital.
2. A successful trader focuses on perfecting his art – the money will flow almost as an afterthought.
3. Successful trading stands on three pillars: Psychology, trading systems, and money management.
4. Always check the trading calendar
5. Plan your trade, trade your plan
6. Trade what you see – not what you hope for.
7. Hanging on to loosing positions prevents you from opening new profitable ones.
8. Never open positions prior to a planned break (vacation etc.)from the market.
9. Never enter a trade because you feel the need.
10. Never enter a trade if you feel uncertain.
11. Never trade trying to make back losses
12. Take money of the table at regular intervals, it’s not yours until you do!
13. Let the profits run (trail the stops)
14. Be very careful trading pairs with a high positive/negative correlation.
15. It pays to wait for trades that allow very close stops.
16. If you’re prepared to risk more than 75 pips it’s probably not a good trade.
17. Avoid counting money with open positions.
18. Profits can easily turn into losses if the target was selected without TA.
19. If your stop is far away, it might be worth waiting to enter the trade.
20. If your stop is too close beware of the whipsaw, it might be wise to move it further away.
21. Place stops below/above the latest minor support/resistance levels.
22. There is nothing wrong with re-entering a trade after getting stopped out using tight money management.
23. Do a postmortem on all trades and learn from them.
24. Keep a trading diary.
25. If you are suffering from a losing streak take a break for at least a week
26. The goal of T.A. is to discover the balance of power between the bulls and the bears and bet on the winning group.
27. Trade well, not often.
28. Successful traders are independent thinkers.
29. A technical analyst is an applied social psychologist.
30. The closing tick of each bar reveals the outcome of the battle between bulls and bears.
31. Most breakouts from trading ranges are false. It pays to fade the break with very tight stops.
32. Give the benefit of the doubt to trends.
33. When in doubt examine the chart in a larger time frame. Still confused – step aside.
34. Steep trend lines precede sharp breaks.
35. Trend following indicators work best when markets are moving but give bad and dangerous signals when the markets are flat.
36. Oscillators catch turning points in flat markets but give premature signals when the markets begin to trend.