Winning Psychology of Defensive Traders

 



Here is the summary of his 10 trading rules :

(1) I trade only when there is something to trade
(2) I never trade without RST ( Reason, Strategy, Targets)
(3) I never trade something I did not research myself
(4) I never buy the high
(5) I never sell the low
(6) I buy on supports
(7) I sell on Resistance
(8) I never trade in No man's Land
(9) I always wait for my setup
(10) I never break any of these rules.

Traders who are familiar with the Turtles Breakout system may have to disagree with Rule No 4 , and rule no 5  because the Turtle buys upon breaking of new high, and sells upon breaking of new low!

Lain padang lain belalang... every sifu has their own methods... and whatever they believe is right, is surely right! After all , we are all trading our belief systems in the market!