Thread by @infomichaelniyi

12 Rules for Good Trading

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

Ready for it?

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

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

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

Follow person wey sabi road

4. Only compare yourself with your past performance not other traders.

Everyone has their own goals and path.

5. Do not do anything that would hurt your confidence in your own discipline.

6. Do not concern yourself with anyone's trading results but your own.

7. Focus on learning how to build your own trading system not following other people's
trades. Except for your coach’s trades

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.

10. Be precise in ur risk management but flexible in your expectations of outcome

11. As a new trader, learn d importance of position sizing, entry and exit signals, and the right mindset

If you skip the learning curve because you don’t wanna pay the coach, you’ll lose laslas

12. Help new traders when you can share your own experience to shorten their learning
curve.

We also learn as we teach others.

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