Trading Rules

1. CUT LOSSES QUICKLY!!! Never hold and hope
2. Always have a plan, do the research
3. Know Risk/Reward
4. Be disciplined, follow your rules and market rules
5. Don’t be stubborn, the play can always reverse 
6. Focus on only volatile plays
7. Past behavior is indicative of future behavior
8. Losses are a part of the job. Never get discouraged by a loss, learn from them
9. Know the market. Know when to be aggressive or conservative 
10. Have realistic expectations but dream big
11. Know your strengths and weaknesses 
12. Diversify your trading “weaponry”
13. Repetition pays off in the long run
14. Don’t judge a play on how much you made but on how you played it
15. There will always be more plays, don’t get FOMO
16. Nobody is perfect, so your trades wont be
17. You are only as good as your foundation
18. Use mental stops, market makers can see order stop losses
19. Management will always promote their company, don’t blindly listen to them
20. Be patient/don’t force trades, good plays will come to you
21. Protect your gains, don’t feel bad for making profits 
22. Find your niche patterns/sectors/prices
23. Its okay to try your luck sometimes, as long as you know you're doing it
24. Trading is a marathon not a sprint, don’t be a gunslinger
25. Don’t get attached to the company/product
26. When in doubt, get out
27. Don’t take a trade you cant get out of
28. Track your trades, learn from your profits and losses
29. Be careful with choppy stocks, they can turn and burn your plan quickly
30. Leverage is a dangerous game
31. Not every trade is the same
32. Know your personal schedule

 

I complied this list from the 1000+ of Tim's video lessons and 6 DVDs I've watched. I created it mostly for myself but thought I wouldn't be greedy. I tried not to get into specific patterns or types of plays. If there's anything I should add let me know in the comments. thanks