TRADING TIPS

10 Step to Improve Your Trading

September 19, 2012

There is no substitute for good old fashion experience. You know it’s true. Plus you wouldn’t want me to BS you would you?

A favorite story about Picasso sums this idea up very well:

Picasso was sitting at a table outside a Paris cafe. A woman came up to him and asked him to draw something for her on a napkin. He complied, doodling as only he could. After he quickly finished he requested the French equivalent of $5,000. Agast the woman said — “but it only took you 2 minutes!” Smiling, the great man replied — “no Madam, it took me my whole life.”

There are always ways that you you can short cut things or hack them but for the most part. Just like Most things in life that are worth doing well it will require you to put in the Time.

10 Steps to Becoming a Better Trader

Trade.
Trade more.
Trade even more.
Trade even more than that.
Trade when you don’t want to.
Trade when you do.
Trade when you have something to Trade.
Trade when you don’t.
Trade every day.
Keep Trading.

Once you get your experience under your belt then. Then you can start putting together a solid trading plan from everything that you learned. Now be sure to keep your trading rules as simple as possible. You will want a check list for each trade that you have in your trading plan. Here is a great book on the importance of using a check list. is called The Checklist Manifesto: How to Get Things Right It is worth spending a little extra time on on your trading checklist.

You want to make sure you trading checklist has the follow:

Entry Rules
Stop Loss Rules
Target Rules
Trading Stop Rules
Exit Rules
When Not to Trade Rules

Do you have a favorite Trading checklist tip to share? Cruise on down to the comment section and tell me all about it.

2 Comments

Ron Cehelsky on November 11, 2012 at 9:17 am

Hello
I guess the stage I am right now Is I can’t hold on the money I make. I keep giving it back.I make several good trades and give it back all back on one bad trade. I have been watching you and John (also Rob for 6mo) for awhile and still trying.
Ron
Reply
- Hubert Senters on November 11, 2012 at 12:24 pm
  
  Ron Cehelsky
  
  Do you trade By a checklist or a set of rules?
  Or are you just winging it?
  
  Hubert
  Reply

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