Shout out to Dangerous Dave an Alpha Member for showing us his current garage
1. Never add to a losing position
2. Trade like your at war (take the money, S&P's average annual return is 7% if you can get 4-5% in a day or two take it)
3. Holding a loser drains your mental capital, as well as your actual capital
4. I've never been in the business of "buying low and selling high" who knows where the low is, I'm here to buy high and sell higher
5. Buy what's strong, sell what's weak
6. Keep technical's simple
7. Patient with winners, impatient with losers
8. Do more of what's working
9. New highs are meant to be bought, new lows are meant to be sold
10. When everyone wants to buy something, sell it to em (think the crypto craze)
11. Most importantly all rules are meant to be broken
Hi Ben, your lists are spot on! I’m a new trader and right now these lists make me ponder and make a step backward and forward especially in dealing my investment trade. I’ve read here http://www.hashtaginvesting.com/blog/featured-optionstrader and it seems reasonable too. Again in your 11 list, rules are meant to be broken and let’s see how far I go.