Thread by @infomichaelniyi

12 Rules for Good Trading

Here are 12 great rules that can give new traders a quick list to see what the right questions to answer that will lead to good trading and also a guide to more experienced traders that just can't get to consistent...

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...profitable trading over the long term.

Carry your own and paper:

1. Create your own quantified trading system with an edge that fits your own goals for potential returns and your personal risk tolerance.

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2. Keep your internal mental dialogue positive using both logic and reason as your thoughts to council yourself in during your trading. Your mind is the battlefield

3. Only be friends with other traders that are positive and helpful in your journey.

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4. Only compare yourself with your past performance not other traders. Everyone has their own goals and path. No follow follow

5. Do not do anything that would hurt your confidence in your own discipline. You know yourself, so guard your confidence

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6. Do not concern yourself with anyone's trading results but your own. Face your front and Dey your lane.

7. Focus on learning how to build your own trading system and stop jumping from one system to another.

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8. Always be honest with yourself about your own knowledge and understanding about trading and the markets. Confidence can only come after competence.

9. Assume you can learn one valuable trading lesson from every trader. Even if it is what
not to do.

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10. Be precise in your risk management but flexible in your expectations of outcome. Don’t expect $1,000 profit monthly 4rm $100 account

11. Encourage new traders to learn the importance of position sizing, entry and exit signals and the right mindset

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12. Help new traders when you can share your own experience to shorten their learning
curve. Like I do with our bit.ly/FreeCopyTrade

Thanks for reading till the end.

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