Trading Rules for Self

• Never risk more than 10% of your trading capital in a single trade.
• Always use stop loss orders.( Here you should know your loss you can give in a situation where the trade starts going against you.)
• Never do overtrading.
• Never let a profit run into a loss.
• Don't enter a trade if you are unsure of the trend.
• When in doubt, get out, and don't get in when in doubt.
• Only trade active markets.
• Distribute your risks equally among different markets.
• Never limit your orders. Trade at the markets.
• Extra monies from successful trades should be placed in a separate account.
• Never trade to scalp a profit.
• Never average a loss.
• Never get out of the market because you have lost patience, or get in because you are anxiously waiting.
• Avoid taking small profits and large losses.
• Never cancel a stop loss after you have placed it.
• Avoid getting in and out of the market too soon.
• Be willing to make money from both sides of the market.
• Never buy or sell just because the price is low or high.
• Never hedge a losing position.
• Never change your position without a good reason.
• Avoid trading after long periods of success or failure.
• Don't try to guess tops or bottoms.
• Don't follow a blind man's advice.
• Avoid getting in wrong and out wrong; or getting in right and out wrong. This is making a double mistake.
• When you lose don't blame it on luck.