Top 10 Trading Rules
1. Trade “TODAY” … NOT my expectations of Today.
2. Be a “Disciplined Trader” … “Discipline always dictates action”
3. When position is going in an unanticipated direction > Get Out and don’t rationalize or change strategies.
4. When Loss > 50% always clear out entire position.
5. Don’t double down to work out of a trade if price action is going against you as this will add to your risk.
6. Always have “Morph Position” on Charts on Credit Spreads and Iron Condors or any naked puts or calls.
7. “Set Position Reversal Alarms” and exit trade at stop Pivot Position.
8. When you make 100% on your money always sell 50% of your position to eradicate your trade risk.
9. If assigned stock over the weekend always sell by the end of the day.
10. If not getting out of day trade at end of day…always cap at least 50% of the position with a contrary position.
