The 21 Things a Trader Must Know (and Do) Part 3
Using the right order at the right time is critical.
15. Become an expert in what you do. Don’t try to do everything. You can’t do it all.
16. Be prepared for six consecutive losses. If you can’t handle that, then trading may not be for you.
17. Focus on the same markets and symbols consistently. Jumping around all over the place is not systematic. Unsystematic traders lose money.
18. Banish from your vocabulary subjective terms such as “looks like a buy signal.” What exactly does looks like mean?
19. If you’re a technical trader, then avoid thinking. It won’t help you. It will only hurt you.
20. Use a purely objective trading model such as the one I have developed which I call to set up, trigger, and follow through.
21. Find use market patterns because they are algorithmic and can be tested.
So, there you have it, the 21 things I consider most important for traders. While you may disagree with my points, know that they are based on near 50 years of work in the stock and futures markets.
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