ETR Insider Report: My 10 Commandments of Trading
Sorry to burst your bubble, but the perfect system for investing probably doesn’t exist. Still, there are systems that work a good percentage of the time. One way to find a good one is to watch successful investors and follow their lead. Today, I’m going to give you a sneak peek at one of those good systems: my own.
It may surprise you to learn that I wasn’t always aware that I had a "system." I discovered it when I was developing my new trading program for ETR. The program is designed to teach everyone – from beginners to experienced investors – how to trade. And before I could put it together, I had to analyze the procedure I use when making my own trading decisions.
One thing I realized is that I have developed several "rules" that have helped me make significant gains over the years. For instance, there are 10 trading principles that I use to guide my trading.
- Stick to your guns.
- Be diligent.
- Don’t be a one-way trader.
- Don’t have personal attachments to your trades.
- Don’t think it has to be complicated to work.
- Do your homework.
- Trade what you see.
- Breathe in, breathe out, move on.
- View each trade independently.
- Don’t follow the crowd.
If you are an experienced trader, I encourage you to either develop your own set of trading principles or adapt mine to fit your style. If you are new at trading, I encourage you to start with my list. Then, as you gain experience, add to or modify it.
[Ed. Note: Rick Pendergraft is a professional trader and market analyst. In Rick's new investment service, he reveals how you can make hundreds - even thousands - of dollars just for playing a simple game of "guess the pattern." Learn more here.]
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