We are not going to get into the religious debate however there are some key commandments that we follow on a day to day basis. Let's get right into it!
Thou shall not worry, for worrying is the most unproductive of all human activities. People get so busy worrying about yesterday or tomorrow, that they tend to forget about today, and today is all we have to work with. Turn off the news station and get to work, look at some charts and stop being such a nervous nelly.
Thou shall not be fearful, for most of the things we fear never come to pass. Fear is simply an emotion, when we fear something we give it power. If we refuse to concede to our fear, then there's nothing to be such a pussy about.
Thou shall no cross bridges before you come to them, for no one yet has succeeded in accomplishing this. Solve the issues that are in front of you, if you have $1,000 your goal should be how to get it to $2,000. Not worrying about which broker will get you the best price on your 5 shares of Apple.
Thou shall face each problem as it comes, you can only handle one at a time anyways. This is why we say to start small (with $0), and learn first, it's much easier to get embarrassed by a stupid trade idea, than to lose a nice chunk of that capital to a cocky mistake.
Thou shall not takes problems to bet with you, as they making for rough spooning. Trades fail all the time, you learn from them, and move on, or you can sit their and bitch and moan at your own mistake that does you no good. Learn and move on, there's always another trade (if you understand risk management, of course).
Thou shall not borrow other people’s problems, they can better care for them than you can. Unless that person is paying you for help, don't waste your time, I cannot count how many times, I have spoked to a new trader complain about his buddy losing $10’s of thousands of dollars trading trash, yet the same friend is either doing nothing or wants to follow in the friends footsteps (with the delusional idea that they will do it smarter with no experience).
Thou shall not try to relive yesterday, if the words shoulda, coulda, or woulda are in your vocabulary better chuck them asap. Nothing more useless than telling someone what you coulda have done, because you didn't and that's all that matters.
Thou shall be a good listener, for only when you listen do you hear ideas different from your own. Hearing is a sense, listening is an art, when you can listen successfully anything is possible. Remember the old adage you have two ears and one mouth.
Thou shall not become bogged down by frustration as frustration clouds your judgement and interferes with positive action. When a trade fails there's nothing worse that one could do than to try and make it back. That is a gamblers mentally and gamblers lose, step away from the computer, go to the gym, read a book or do whatever it is you do to decompress. Come back the next day or week with a fresh mindset and look forward.
Thou shall count thy blessings, never overlook the smalls ones, as the smallest ones compound over time. Same with trading, if you mad money regardless the amount that was a blessing, and the more you get in the habit of making money, the more it should compound over time (if you can keep the losers in line).
Now these might not be set in stone however these should help make your life a little less rocky. Let's take a moment to knock out a few more that we follow consistently.
The Trading Experts Commandments to progress or shake out.
Thou Shalt Progress Daily Thou Shalt Not Trade Penny Stocks
Thou Shalt Learn Daily Thou Shalt Not Mention Crypto
Thou Shalt Help Others Daily Thou Shalt Not Mention Forex
Thou Shalt Hold Winners Thou Shalt Not Mention Day Trading
Thou Shalt Focus on Leaders Thou Shalt Avoid Looking at Losers
Thou Shalt be Confident Thou Shalt Not be Cocky
Thou Shalt Keep It Simple Thou Shalt Not Gamble On Earnings
Thou Shalt Listen Thou Shalt Not Make Assumptions
Thou Shalt Ask Intelligent Questions Thou Shalt Not Let Their Emotions Win
Thou Shalt Read Daily Thou Shalt Not Watch TV
Thou Shalt Aim for 5-1 RR Thou Shalt Forget About 2-1 RR
Do you have balls?
In the Getting Started Group Chat share 3 of the commandments you will aim to follow starting now.