Lessons from 2011

[#1]

Hi guys, I thought I'd share 1 or 2 lessons from 2011. Maybe it helps someone else out there have a better year than I did last year.

My two most important lessons:
1. Dont trade your own bias/expection on the market, if you have a system or a trading style then wait for those signals. Many times I've read bad news only for the shares/futures to go up.
i.e. Stick to your system and game plan.

2. Dont confuse your systems
Ive made many losses getting out of a position because another system would tell me this is where me stop loss is. If I'd stayed in that system that I was trading I wouldnt have had the losses. It comes down to know your system and stick to it diligently, dont confuse to systems, they're entry points or their exit points.

Hope you all have a good year.

[Preston]

Never catch a falling knife cos 9/10 times it will fall further during closing auction.

[Rams]

a loosing trade may have been well traded....

[WES]

Dont sell just because you see the profit, rather reduce your stop loss as a share can move futher up and you dont want to take profits too early whilst hanging onto losses, because overall you will lose, let the profits ride ! and cut the losses.

[#5]

Stick to your system and stop losses and be patient when looking for good trades i.e. wait for your system's signals to enter and to exit.

[#6]

Discipline is the key to success on the markets. It's not about fun, it's about seeing a trend & following it.