• The Successful trader.

•  1. The trader, know itself. Successful trade is on 97 understanding and use own strong and weaknesses. If you constantly enter transactions which do not use your strengths you will lose money.

•  2. Invest your money, instead of your "ego". Even the most carefully constructed system can unexpectedly get you not in that party. Conditions vary. The markets vary. And even the system working perfectly, can give failure because of such changes. Be always ready to adaptation. If you are not ready to change the installations, it can cost to you very dearly. Never give your transaction "investment" to become simple because you are unable to understand changes of the market.

•  3. Conduct trading magazine. It is very difficult to study on mistakes if you do not remember them. Always store records about your last mistakes and successes near at hand. Watch market movements and reactions and write down the supervision. Write down, as the market moves to the certain moments. Such detailed magazine not less ценен, than any ever written textbook about successful trade.

•  4. Open a position as though it had potential to become " the largest transaction of year ". In other words, plan your transactions. Do not enter into the market while all in details will not think over and will not analyse. Conceive, as you will add to the open position (construction of a pyramid). Make a plan of action in unforeseen situations for an output of the transaction. In a return case you should lose money.

•  5. Practise discipline and patience: Wait for the necessary moment. According to Bill Lipshitsa, from 250 transactions - on three you will lose the money, two will be very profitable, and all the others depend directly on you. Expect and trace compound trends: the strong action, strong group/sector, the strong market. Wait for the moment when compound levels of support/resistance will be in your advantage. Successful trade is a business where a lot of time is spent in idleness.

•  6. Open small initial positions. Use a principle of a pyramid for addition to an initial successful position. As soon as it has appeared, that you were right in the decision, add to the position strategically. As Davy Krokett has told, " Make sure, that you are right, and - forward! "

•  7. Be ready to do mistakes and to accept small losses. Trade is trade, the markets are the markets, and losses are inevitable. However, they are operated. Put stops, mentally or really, and execute at the planned level without hesitation. So you can operate your risks. Also it is a unique way to protect your capital and to remain in game.

•  8. News already on the schedule, both yesterday's, and tomorrow's. Supporters of the fundamental analysis predictedly react to news. Supporters of the technical analysis predictedly react to figures on schedules and indicators. If you can correctly read the schedule you do not have necessity to follow news, and even to worry that there in news. Base the decisions that occurs on the schedule, instead of that, in your opinion, will occur after news. Forget news, remember the schedule. It has already considered the future news.

•  9. The crowd passed the first boat always gathers. For example, the first sharp collapse of the price (sell-off) will always find buyers, and the first fast rise of the price (rally) will always find sellers. These "reactions" practically always time. Plan purchase on the first отскоке from a new maximum and sale on the first отскоке from a new minimum.

•  10. Great volumes kill a prevailing trend. Always remember, that culmination (too high) new rise or too strong collapse is possible. Such culmination rises and collapses throw out from the market and buyers, and sellers. After such breaks the market is included usually into lateral movement.

•  11. Use moving stops if the market goes to your party. To not close a position too early or too late, mentally expose stop on 10-15 from a current market price or hardly further last maxima or minima, or, even better, at current levels of support/resistance. After that only correct a level of the purpose.

•  12. Always, always protect the capital. Обрезайте small losses. The most important principle - be intolerant with losses. As always, small losses and fast losses are the best losses. It not those losses to which it is necessary to pay attention. To test psychological pressure from preservation of a unprofitable position much worse. Practise full management of risks.

•  13. Never, never add to a unprofitable position. If you build a pyramid of long positions the price of each new purchase should be above previous. If you add to a short position the price of each new sale should be below previous. This obligatory rule.

•  14. Do not try " to catch a falling knife ". On the contrary, wait some days - strong rise, отскок back and return up to a former minimum. If the price does not leave below a former minimum then plan opening a position. If the price does not go upwards again it doesn't matter, always there will be other opportunities. Expect the optimum moment for opening.

•  15. Buy from a level of support. Put close stops at approach a level of resistance. Your price can slip a level of resistance, stop or fall. If the price falls, the position should be quickly closed.

•  16. Buy from a level of support, sell at a level of resistance. You should do so even if it is complex. If you see it on the schedule also others see. They only wait for the moment to join.

•  17. Never lose sight of support (or resistance if you have sold). Than further you from support or resistance (if have sold), especially naked and lonely you will be. If you wish to challenge to the price imagine a fast turn to a level of resistance, imagine a heavy loss.

•  18. Every day is a new day, and each open position should be reconsidered. It especially concerns your strategy of an output. The price which you have paid also the size of your profit or the loss - to a thing in any way not connected. If the action should be sold - it should be sold. The size of profit or the loss from each position is important not, and your ability to adhere to the selected strategy and to put it into practice.

•  19. Be patient. When the position is opened, allow it time to develop. Allow it time to create profit which you expected. A saying " you will never be ruined, closing profits ", likely, the most senseless advice from ever data. Closing of small profits - the most true way to increase in the probable loss because to small profits do not allow to grow in greater and huge profits. Really greater money in trade are done on one, two, three greater transactions every year. You should develop in yourselves ability patiently to hold profitable positions.

•  20. Avoid this haste, which forces you to jump in the market if only to be " in game ". Do not hurry up. Observe, build strategy and be the first during the necessary moment.

•  21. As the saying, but a trend - really your friend is jammed. Do not try to be clever and to struggle with it. Do not try to be the hero. If it seems to you that to go to a underside along the street with an one-way traffic - silly you are right. Bring this understanding on the market. In the bull market it is necessary to buy or stand in the party. In the bear market it is necessary to sell or stand in the party. And always remember - to not have positions is too a position. And in many cases - the best position.

•  22. Avoid unchecked "known" strategy. Their set. Some examples:

•    " All gaps get filled " - " All breaks are filled ". Breaks of an exhaustion are filled. Breaks of break and continuation are not filled.

•    " No one ever went broke taking a profit " - " Nobody was ruined closing profits ". Closing of fast profits and keeping of unprofitable positions can ruin more quickly, than it is possible for itself to present.

•    " It's not a loss until you sell the stock " - " It not the loss while the action is not sold ". Try to tell it to your banker. Обрезайте your losses also let's profits grow. It is simply impossible to be successful long time if you will not cut off your unprofitable positions quickly. Unfortunately, this and previous rule is especially difficult to carry out to beginners because the pain from the loss is felt much more intensively, than pleasure from profit. In any other activity the conflict between emotions and an objective reality does not happen so is strong and so is obvious, as in exchange trade.

•    " Always buy at a new high " - " Always buy on a new maximum ". Trends do not begin on new maxima, much more often they there come to an end. When only it is possible, buy as it is possible more close to the beginning of a trend.

•  23. If you need to try to discover something - it there is not present. As speaks Элдер: " the Technical analysis gives enough opportunities to deceive and to see that most would be desirable ". Than it is heavier to find something, it is especially probable, that you see something which are not existing in a reality.

•  24. Trends are not developed quickly. Turns of a trend demand time for development. They are under construction slowly. The first some sharp collapses always find buyers, and the first some sharp rises always find sellers. In both cases buyers (on rises) and sellers (on collapses) should be washed gradually up" from the market.

•  25. Do more that works on you and less than that goes against you. Every day look through the open positions. Plan to add to a position, giving the greatest profit. Consider closing the positions, not giving have arrived or with very small profit. These are bases of the thesis: " Let's profits grow ".

•  26. When sustain sharp losses - depart from the market. Close all positions and cease to trade for some days. After several sharp losses do not try to recoup and return money. In such cases ability really to perceive the market and the decisions it is lost.

•  27. Think, how the hired fighter. Be at war on that party of the market which wins. Do not waste time also the capital in vain attempts to earn, buying on minima and selling on maxima or on any movements of the market. Your duty is to receive profit, struggling on the party of winning forces. If any party does not win, do not fight in general.

•  28. Beat market crowd. Other traders in game to take away your money. You should select their money before they will reach yours ?

•  29. About analysts: look at an analyst and the account exposed by it. Everyone say lies. In general, they do it to collect your money. Analytical services belong to the financial organizations. They in business not to help you. They are engaged in promotion of interests of firm and gathering of the commissions.

•  30. Be ready to study seriously. Those traders who do not wish to waste time on studying and supervision over the markets, training and trainings, development of the technical analysis, new trading systems and methods, etc., will lose almost always.