- Trust yourself and no one else. If necessary, seek guidance but do as your brain/intelligence tells you!
- If you're in doubt, don't trade. Stay in cash.
- Never buy stocks at the top. If it's a breakout after a significant consolidation, wait for pullback or enter small.
- Don't catch the falling knife, let it find the base.
- Consolidation at high level is likely distribution, consolidation at low level is likely accumulation. Watch it!
- Never trend against the trend. Make a trend you friend, however, keep in mind a significant supply level from where market has potential to reverse.
- Take risks in trading stocks, invest in cash cows.
- Put SL in place if you're trading in a very risk asset.
- Are you a investor or trader? What's your time horizon? Are you a position trader or swing trader? Know yourself!
- If you're down more than 25% on a stock, average it marginally if you're sure that market is still bullish. That way you can exit quickly during a upside rally.
- If you're following Elliot wave principles, always aim to ride Wave 3, wave 5, wave B, wave X. If you're following price action or S/D, buy at demand level, sell at supply level. That's all.
- Remember you can't catch all the moves. Market is always there, it will give you multiple chances.
- Never go all-in. Always keep reserve cash for any unexpected fall or any other ST trading opportunity.
- Diversify your portfolio.
- STICK TO YOUR PRINCIPLES.
