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Last modified by Drunk Monkey on 2022-12-28 09:56
From version 3.2
edited by Drunk Monkey
on 2020-07-13 16:10
Change comment: There is no comment for this version
To version 4.1
edited by Drunk Monkey
on 2020-07-13 17:09
Change comment: There is no comment for this version

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50 50  11*. Don't trade with live funds until you know what you're doing.  You cannot lose money this way.
51 51  11*. Losing is normal.  Control them, and over time you'll make more than you'll lose over the long term
52 52  11*. It's ok to lose, as long as you continue learning to avoid the mistakes you previously made
53 +1. Stay Away From Social Media Drains
54 +- don't let others influence your trades.  make your decisions.  if you let others control your trading, it will lead to further failures.
55 +11. Don't Join Trading Clubs
56 +- Don't join the hive.  everyone has their own trading profile and the group may not be your own style.  make your own analysis
57 +11. Don't Subscribe To Alerts
58 +- Just like taking signals, it takes the power of the trade away from you and into someone else's hands.  Be responsible for your own trades.  Otherwise, you are gambling.
59 +11. Don't count other people's money. 
60 +- You will never learn to trade doing this.  You will not develop the skills. You're chasing other people's money.  You can't spend their money.
61 +11. Don't Feel Insignificant By Contrast
62 +- measure against your own success, not the success of others.  Not everyone is what they claim to be
63 +1. Match Your Style To Your Personality
64 +- Learned from Larry Williams.
65 +11. Scalp If You Make Quick Decisions - If you're a scalper, you'll do great if you make quick decisions.  Don't do it if you can't
66 +11. Short Term Trade If You Can Sleep - If you can hold a trade overnight without losing sleep, then you can short term trade
67 +11. Don't Force Yourself Into Any Mold - Be what you are, and maybe develop the other skills later
68 +11. Don't Try To Copy Someone - they are not you, you are not them.  Their strength are not yours.  Develop or refine your own models
69 +1. Don't Change Trading Approaches
70 +11. Stick With One Approach - master it, it takes time
71 +11. Avoid System Hopping - you will never master it.
72 +11. Every Model Loses - Accept It
73 +11. Find Your Unique Model & Grow With It - Don't tweak it too much once you have it working and is profitable, but work on more advanced money management techniques instead.  If your method wins more often than it loses, better, more advanced money management will greatly improve your bottom line
74 +1. Settle One One Trade Setup Initially - 
75 +11. Determine Your Asset Class - Pick an asset class and stick with it.  Then inside that class, pick one market and stick with it.
76 +11. Outline When You Want To Buy - what is the criteria that you feel comfortable for a buy.  Detail your plan, on paper.
77 +11. Outline When You Want To Short - The same thing applies to shorts.  What are the characteristics and circumstances that would make you short?  Details.
78 +11. Build Many Study Journal Cases - Many examples of when it worked, and when it didn't.  The more examples the better.  Thus you will train yourself to recognize when the setup happens in live trading.
53 53  
54 54  == {{id name="Part2"/}}Part 2 - How Would I Study ==
55 55