Trader Note

Bund News Release: (High Risk) Expected positive (German) release => Short bonds. Grab a couple of ticks. Quick!

Rough Trader Note: Philosophy 2012 Q4

Philosophy

KNOW WHEN TO STOP.

Your emotions are ALWAYS wrong.

TRADE, don't gamble.

Don't trade bored.

Analysis is correct, trading is bad. Be careful.

Distractions will kill my P&L. Kill distractions.

Have a plan!

Have a bias.

Patience makes profits.              

Don't trade sick.

Don't "think." KNOW!

Be first. Be aggressive.

Don't hesitate, know.

Know what you know.

Don't get in too early or late.

Plan may work but NOT if timing is bad.

Trade consistent. Use what works.

Discipline: Don't let pain keep you from a good trade.

It is better to make money than "Be right".

Get a price you are happy with or wait for it.

Don't get scarred and puke out. Decide to, and do it.

Don't get impatient.

Be a mechanic, not a technician.

Don't over trade.

Don't get tunnel vision.

You don't have to trade.

It is what you do in position, when in it, that's important.

Don't try to be bigger than the market.

Don't get cocky.

Don't feel it, don't do it.              

Be patient. Take the cream.

More hours is NOT more money.

The market is always right (Time it right).

Don't take it personally: The market IS trying to screw you.

Don’t trade on tilt.

Each trade MUST be evaluated on its merits. If entry is unachievable then scrap the trade.

Get the brain to realize advantages.      

Learn to spot setups for good trades.

Learn when to pull a trade (when the indicators turn against you) and when to be bold.

Think 2 steps ahead (at least).

Know what you want to do so you don’t hesitate.

Decide to trade or not. Don’t have a "going out" distraction.

Don’t trade distracted. Just exit.

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