S&P 500 Emini Futures Trading: I use this blog as a journal which is a key part of my trading business plan. I use my plan as a tool for the constructive learning process that i believe every new trader should have.
Friday, March 18, 2011
Having rules and then Having rules...
Do you have a set of rules? I do but up till know i never really had a set of rules. I kept them on my trading rules page but never really realized the importance of having and trading by a set of rules. I figured , OK i need rules let me through a few together and then i have rules. But im starting to realize that isn't how it works. Truly having rules means that you foloow them and you fully understand them and live and die by them. If you dont then you will fail. Just like if you drive a car around on the street you have to follow the rules or you will get into an accident or get a ticket. Same with trading. If you dont follow your rules you will get smacked again and again untill you realize it. Thats where i am right now.So what i have done is print out 5 copys of my rules and put a copy every where i am the most (work desk, home desk, truck, back pocket etc..) I read them every chance I get. And i made a rule that if i take a loser trade i read them again 10 times. My goal is to really know them and add to them as needed. I want to know them well enough that i can recite them by memory.
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