Rules for Rookie Traders

99% Of OTCBB, Pink Sheet Stocks Are Scams, Schemes & Frauds

Yes, 99% Of OTCBB, Pink Sheet Stocks Are Scams, Schemes & Frauds This one, which plays on greed, is one of the oldest digital rip-offs on the books. You get an email If you are able to buy shares now, you’ll receive a sizable fortune as a...

Basic Principles

On the fundamental side:- it is not too hard to make any stock sound good. If they have some kind of opportunity, a good promoter or publicist can probably convince an investor that the stock deserves consideration. Listen to the story, but don't...

Classic Rules of Trading by Linda Bradford Rascke

Time Tested Classic Trading Rules for the Modern Trader to Live By. They obviously withstand the age-old test of time. I'm sure most everybody knows these truisms in their hearts.1. Plan your trades. Trade your plan.2. Keep records of your trading r...

Demo Your Way to Success

YOU SHOULD DEMO TRADE UNTIL YOU DEVELOP A SOLID, PROFITABLE SYSTEM BEFORE YOU EVEN THINK ABOUT PUTTING REAL MONEY ON THE LINE.WE REPEAT – YOU SHOULD DEMO TRADE UNTIL YOU DEVELOP A SOLID, PROFITABLE SYSTEM BEFORE YOU EVEN THINK ABOUT PUTTING REAL M...

Donchian Trading Guides

General Rules:Beware of acting immediately on widespread public opinion. Even if it is correct, it will usually delay the move. From a period of dullness and inactivity, watch for and prepare to follow a move in the direction in which volume...

Gaps

A gap is a change in price levels between the close and open of two consecutive days. Although most technical analysis manuals define the four types of gap patterns as Common, Breakaway, Continuation and Exhaustion.A Gap Up occurs when the opening...

guaranteed to lose money

If you trade without the proper preparation you’d be better off to Vegas. You are guaranteed to lose money in front of your computer screens. It's better to have fun and loosing money in Vegas.I blew through my accounts. You need to be very caut...

Identifying Trend

Up trend : A series of successive higher highs and higher lows .Down trend: A series of successive lower highs and lower lows .The simplest method is : look at the 2-3 year daily chart. If it's up, the trend is up. If it's down, the trend i...

Protect Your Self from You

All Traders, and we do mean ALL traders, LOSE money on trades. Ninety percent of traders lose money, largely due to lack of planning, training, discipline, and having poor money management rules.If you hate to lose or are a super perfectionist, you’ll a...

Road Map

AFTER you have:Developed your Trade Plan Determined when and where you will trade Learned your System Tested, refined, retested, and practiced on a Demo Account UNTIL CONSISTANTLY PROFITABLE Identified how much Capital you can afford...

Step 1, Rule #1

Rule #1:   Never, never, never ever trade with real money until you have successfully "paper traded"   at least 75% of the time.Glossary Term: Paper Trading - Simulated trading on paper. Glossary Term: Cost Basis - The IRS defines the cost ba...

Step 2

A great General once said, "In order to do battle with an enemy, you must know him first.  Never go into battle against a stranger for surely you will lose." Such words also hold true for trading in the markets. If you don't know what you're doing ...

The Gentle Art of Forecasting

Neil A Costa If there ever were a holy grail of trading and investing, it would have to be the ability to calculate the date and price of every intermediate or cyclic market top and bottom. Our trading would then be simple and easy - we would buy the...

Trading for Beginners

So you want to learn to trade? This site will not teach you how to trade.  It will provide you information and information that will explain the trading process.  The process of trading is not to be taken lightly.  Should you decide to venture upon th...

Trading Journal

You must be insane if you are not keeping a Trading Journal. One of everyone’s favorite definitions of insanity is "doing the same thing over and over, but expecting different results."A Trading Journal is not about simply tracking your numbers a...

trading rules

1. be a sheep and f ollow the trends . This is probably some of the hardest advice for a trader to follow because the personality of the typical trader is not "one of the crowd." Traders are highly individualistic; the markets seem to attract those...

Trading Rules example

The mantra for successful trading: “Let your winners run and cut your losses.”It’s about personal discipline and managing your capital account with the goal of minimizing losses. With the Trading Plan you think in terms of probabilities. With your ...

WD Gann's 28 Trading Rules

Never risk more than 10% of your trading capital in a single trade. Always use stop-loss orders. Never overtrade. Never let a profit run into a loss. Don 't enter a trade if you are unsure of the trend. Never buck the trend. When in doubt, get out,...

Only trade with money you can afford to lose (because you will loose money. That I can guarantee)

Never risk too much capital on one trade.

Be patient: Plan your trades, then trade your plan.

Be disciplined: Have a trading plan and stick to it. Look for scenarios where support and resistant are drastically imbalanced, and use these as your entry and exit points.

MIAMI, Fla. (MarketWatch) — If you are going to day trade, it’s essential to have a set of rules to manage any possible scenario. Even more important, you must also have the discipline to follow these rules.

1. The three E’s: enter, exit, escape

2. Avoid trading during the first 15 minutes of the market open

3. Use limit orders

4. Rookie traders should avoid using margin

5. Have a selling plan

6. Keep a journal of all your trades

7. Practice day trading in a paper-trading account

8. Never act on tips from uninformed sources

9. Cut your losses

10. Be willing to lose before you can win

More accurately said be willing to LEARN before you can win.

Original article is here 10 rules for rookie day traders