- Take huge risks with risk capital *** VERY important*** You have to be willing to take big losses to go for huge gains.
- Go all in one stock.
- Trade for potential big gains. 200%+ moves.400% is better. The less you actually trade the better.
- Only trade in very high probability stocks. If it isn’t at 70%+ chance of success…..do not trade it.
- Roll the trades into 2-4 trades. That takes time! Do not spin your wheels. If a bull market lasts 4-6 years on average you want to make as much profit in that bull market.
- Face reality. You will face losing and flat periods. Unless you make so much in a bull market cycle you can get out for good!
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My 10 Rules of Stock Trading
- Ignore all opinion. “if you have to ask you should not be doing it”
- Keep out of gambling. Penny stocks, short term trading, stories, tips.
- Beyond price and volume forget all other forms of T.A. Moving averages, pitchforks, gann angles, chart patterns etc…Do me a favour.
- Only trade the USA stock market.
- Do not do it full time.
- Never predict anything.
- Go for the almost sure part of the trend. Never pick tops/bottoms.
- Fundamentals do matter
- Big rewards mean taking big risks.
- Patience, common sense and discipline. That’s 90% of it