1. Don't blame the market.
You must take responsibility for your financial security and all of your actions.
2. Study and learn all you can.
Choose one market to trade, many suggest the Dow Jones futures market, and become an expert in your area.
3. Be prepared for problems.
Have a back-up phone ready with your brokers information in case of problems.
4. Have a notepad, pencil and calculator at hand to record trades.
5. Know the days and times when economic data is released.
6. Never let a winning trade turn into a loss.
7. Start with a little capital.
Only place small stakes or paper trade if you are relatively new to trading.
8. Have a trading strategy and stick to it.
It is no good saying one thing and doing another.
9. Always keep records of all your trades.
Analyse these weekly or monthly to see if you can improve you performance.
10. Don't be greedy.
You can soon build up considerable wealth with just 1% daily profits.
11. Never trade if you are tired.
Any medications that could affect your responses or you have a headache or you are worried about something.
12. Wherever possible always try and obtain value when placing a bet.
13. Never trade on tips or what experts say.
Invariably throughout the day there will be several experts with opposing views. Trade what you see happening.
14. Vary your stakes.
If market movement is a little slow use lower stakes.
15. Look for reversals in the market and trade with this new trend.
16. Do not over trade.
17. Try to make a small profit every day and be happy with that.
18. Don't let the market get away from you.
As soon as you can get out.
19. If you are losing just get out.
20. If in doubt GET OUT!
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