Friday, January 23, 2009

Trading rules

  1. I go in at higher price only when there is a train coming, that is, great momentum and you can take the ride.
  2. I sell at lower price only when there is a train coming, that is, great momentum and I have to get out at any price.
  3. Normal case, buy low and sell high, the swing trade is the way to go.
  4. Selling OTM short term puts when the underline is diving on the day is a great way to go, give me two layer of protections, and plus the time is on my side as well.
  5. If my trade is not working, need to have the steel to wait for a while for better exit.
  6. I lost in too many trades and now I don't trust anyone.
  7. These day traders on xTrends are great, they pick up small swing and go in and then get out.
  8. Now, it's possible for me to get out of these 3x ETFs in green, if there are just a few bounces along the way. I hope today or Monday.
  9. The first thing to get rid of is the TNA puts, it ties me with 12K.
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