I had a loss today and it was a pretty stupid loss, so in light of that, I am writing down my trading rules to ensure I never have a stupid loss like this again.
Rules
1. Make a watch list whenever you can
2. Grade and analyze every single ticker for their profitability
3. Trade only what you grade
4. Create a trade plan and stick to it
5. Lean more on the dip buying side of things, they are more reliable in the market right now
6. Try and avoid overly choppy stocks (TBIOs 60 million in volume was unacceptable)
7. Exit positions intelligently (if the breakout isn't convincing get out / cut losses quickly)
8. Don't take large position sizes
9. Only trade the best plays. If it doesn't do what you want, when you want, how you want, take no position at all
10. Study Study Study!!!
Learned a good lesson today on TBIO. Had a plan but threw it all out the window. Nothing makes you learn faster than pissing away money.
@BlackWolfTrader haha tell me about it man. lost 2k smh.
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