The Most Important Trading Rule

What is your most important trading rule?

  • Never add to a losing trade (or "average" into a position)

    Votes: 9 4.6%
  • Lower trade size when trading poorly

    Votes: 5 2.6%
  • Never turn a winner into a loser

    Votes: 11 5.6%
  • Biggest loser must be smaller than biggest winner

    Votes: 2 1.0%
  • Get out of your losers - use stops

    Votes: 38 19.5%
  • Hit singles and not home runs - little by little

    Votes: 14 7.2%
  • Plan your trades and trade your plan

    Votes: 70 35.9%
  • Keep a positive attitude, no matter how much you lose

    Votes: 9 4.6%
  • If a market doesn't do what you think it should do, get out

    Votes: 18 9.2%
  • Other rule not mentioned here

    Votes: 19 9.7%

  • Total voters
    195

DeltaGuy

Junior member
Messages
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You may have already seen this poll in another trading forum. If you have already voted in that forum please do NOT vote here again as I'm trying to get a good cross section opinion from as many people as possible.

In this poll please select the rule that you consider most important. The objective of this exercise is to get a feeling from traders what rule is the most import rule they apply (or feel that they should apply) to trading.

If you vote for the last option then please post the rule that you think is most important in this thread so that I can include it in a future poll of rules.

Thanks
 
You may have already seen this poll in another trading forum. If you have already voted in that forum please do NOT vote here again as I'm trying to get a good cross section opinion from as many people as possible.

In this poll please select the rule that you consider most important. The objective of this exercise is to get a feeling from traders what rule is the most import rule they apply (or feel that they should apply) to trading.

If you vote for the last option then please post the rule that you think is most important in this thread so that I can include it in a future poll of rules.

Thanks
Plan your trades and trade your plan
 
It was a toss-up between "Get out of your losers - use stops" and "Plan your trades and trade your plan" but the killer would be ignoring stops.
 
The Trend is your friend!

I went for the last option. The most important rule for me is "Always ensure you're aligning your trades with the primary trend of whatever time-frame you're trading". I base this rule on sober analysis of my losers. I've lost more money fighting the trend (catching falling knives) than by any other bad practice.
 
What are "singles" and "home runs"?

Another rule: never address someone as "dude", especially if you're English.

Grant.
 
yes knowing when to do 'nothing' is conspicuous by it's absence on that list and yet where is there a better stop loss to be found ;)
 
I have now decided that since my stops are mechanical, "Plan your trades and trade your plan" is more important.

Greed kills.

How's this for you?
 

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yes knowing when to do 'nothing' is conspicuous by it's absence on that list and yet where is there a better stop loss to be found ;)


so true. I have gone from running around with my hair on fire to trading like a sniper. Quality over quantity.
 
Going away to make a cup of tea can sometimes be the right trade too. It helps one to think and prevents bad entries from happening.
 
....Don't go on hols.....

.....everything happens then....

....world markets wait until you go on hols and then....

....splat...!!
 
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