Awesome stuff.
A list of 50 Time Tested Classic Trading Rules for the Modern Trader to Live By, compiled (supposedly) by Linda Bradford Raschke.
Here’s the teaser — but make sure you go read them all. And consider following them — at least most of them:
This is a list of classic trading rules that was given to me while on the trading floor in 1984. A senior trader collected these rules from classic trading literature throughout the twentieth century. They obviously withstand the age-old test of time.
I’m sure most everybody knows these truisms in their hearts, but this list is nicely edited and makes a good read.
- Plan your trades. Trade your plan.
- Keep records of your trading results.
- Keep a positive attitude, no matter how much you lose.
- Don’t take the market home.
- Continually set higher trading goals.
- Successful traders buy into bad news and sell into good news.
- Successful traders are not afraid to buy high and sell low.
- Successful traders have a well-scheduled planned time for studying the markets.
- Successful traders isolate themselves from the opinions of others.
- Continually strive for patience, perseverance, determination, and rational action.
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