1) All effective traders incorporate methods that suit their personality; You’re neither Waren Buffett nor George Soros nor Jesse Livermore; Don’t assume you are able to trade like them.
2) What the marketplace does is beyond your control; Your reaction to the marketplace, nevertheless, is not beyond your control. Indeed, its truly the only item you can easily control.
3) To be a winner, you really have to be ready to consume a loss; (The Stop-Loss Breakdown)
4) HOPE is not a discussion in the winning Trader’s vocabulary;
5) As soon as you are on a losing streak – and you may eventually discover yourself on one – decrease your position size;
6) Don’t underestimate the time it takes to succeed as a trader – it takes 10 years to become
really good at anything; (There Are No Shortcuts)
7) Trading is an accomplished vocation – not a hobby
8) Have a business/trading plan; (Write This Down)
9) Identify your largest weakness, Be straightforward – and DEAL along with it
10) There are times when the ideal item to do is nothing; Discover to recognize these instances (Nothing Doing)
11) Being a large trader is a process. It’s a race with no complete line.
12) Other people s opinions are meaningless to you; Create your own trading decisions
(The Wrong Crowd)
13) Analyze your previous trades. Study what happened to the stocks after you shut the position. Consider your P&L game tapes and go over them the way Vince Lombardi Bill Parcells evaluated past Superbowls
14) Excessive leverage will knock you from the game permanently nifty definition
15) The Number One traders continue to understand – and adjust to changing conditions
16) Dont only stand there and let the truck roll over you
17) Being incorrectly is acceptable – staying wrong is unforgivable (I liked this 1! -BMB)
18) Contain your losses (Protect Your Backside)
19) Superior traders manage the downside; They don’t stress about the upside
20) Knowing when to get out of a position is as significant as when to acquire in
21) To excel, you really have to put in work
22) Discipline, Discipline, Discipline !