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
#1
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
 
Likes: bizmanny
May 29, 2007
18
0
11
Texas
#2
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
 

shadowninja

Well-known member
Jul 22, 2007
5,524
641
173
www.helpforheroes.org.uk
#5
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.
 

Vorbis

Active member
Dec 16, 2005
270
35
38
#6
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.
 

grantx

Well-known member
Jun 18, 2006
2,331
223
73
#10
What are "singles" and "home runs"?

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

Grant.
 

chump

Well-known member
Dec 12, 2003
2,212
274
93
112
#15
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 ;)