What's your top trading tip?

T

TradeCamp

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Lots of good information shared on these forums, but I think it'd be great if we could get people's top trading tips in one place for newbies and experienced traders alike.

So what's your top trading tip?
 
Make up your own mind and never take advice from anyone else. Think about it; if you need to rely on another person for tips/suggestions/advice, and they drop dead the next day, what would you do?
 
What's the single most important thing to remember when playing golf? I've thought about that question a lot and I think the answer is "Relax and allow yourself to swing freely". My style of trading is "swing" so I can probably apply the same thought to that. Golf is a metaphor for life, after all.
 
meanreversion said:
What's the single most important thing to remember when playing golf? I've thought about that question a lot and I think the answer is "Relax and allow yourself to swing freely". My style of trading is "swing" so I can probably apply the same thought to that. Golf is a metaphor for life, after all.
Click to expand...

Actually it's hitting the ball. Without that you're swinging at air.
 
10pips said:
dont get greedy over positions
break even if your position goes 20+
dont add to your losses
theres always tommorow
stick to one £pp for a long period of time to build your account balance
treat this as a second income and not your main, unless you trade full time
only trade markets that you know best
have confident in your signals
EAT HEALTY, AND DRINK ALOT OF WATER OR JUICE.
Dont spend all day looking at charts....make time for socialising.

Theres many more......
Click to expand...

Don't listen to all of these, there's some bad stuff in here.
 
1. Find a trading style that suits you, whether day trading, scalping, swing etc.
2. Don't risk more than 2 pct of equity on any trade
3. Don't watch CNBC (unless you fancy Erin/Becky/Maria whoever)
4. Be realistic about how much money you will make
5. Learn from your mistakes
6. Don't make the same mistake twice
 
meanreversion said:
What's the single most important thing to remember when playing golf? I've thought about that question a lot and I think the answer is "Relax and allow yourself to swing freely". My style of trading is "swing" so I can probably apply the same thought to that. Golf is a metaphor for life, after all.
Click to expand...

Masquerade said:
Actually it's hitting the ball. Without that you're swinging at air.
Click to expand...

actually its

Keeping your F..ckin head still :)

like trading easier said than done for many

Andy
 
Sorry but I think that's terrible advice. Telling people to keep their heads still promotes stiffness and tension, which invariably results in a poor shot. The only reason the instructor tells you to keep your head still is so you can't see him laughing his ass off.
 
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