Now, let's move on to 5 more of the 20 (11 thru 15) Trader Survival Skills every trader must know.
(11) When in Doubt, Get Out (or Stay Out).. Deal with reality, if the market doesn't behave like you expected, Get Out Of The Market Immediately.
(12) Learn the difference between gambling and trading: (1) Don't trade just because it's irrationally high or low, (2) no new positions before the market opens, (3) no positions before major market announcements, (4) always use a protective stops, and (5) always have a high probability trade set-up before putting on a trade (like those taught in my program for example).
(13) Never, ever add to losing trades.
(14) Don't over trade. Trade more only as you get more experience and only if you're Winning - not the Opposite.
(15) Be Logical, not Emotional. Emotions can help destroy you as a trader - be very logical and follow your trading rules.
I truly hope you've enjoyed and learned from these Important survival skills. Please remember, there are 5 more Trader Survival Skills coming your way next week, so please be on the lookout for them.
Get all 20 Survival Skills for Traders here
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