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- #1 - Make Every Indicated Trade Every Time
- #2 - Turn Off The TV During Market Hours
- #3 - Market Sector Rotation Is A Fact Of Life, So Diversify
- #4 - Accept Your Trading Losses As A Cost Of Doing Business
- #5 - To Avoid Severe Losses, Stocks Must Be Traded
- #6 - Have Respect For The Successful Methods Of Others
- #7 - You Don't Need A PhD To Make Money In The Markets, But You Do Need A Good Feel For The Trigger
- #8 - At Any Given Time, The Market Can Make Anyone Look Like An Idiot. Always.
- #9 - "If you have to forecast, forecast often." Economist Edgar R. Fiedler
- #10 - Things Change
Sacred Cows
1. Make Every Indicated Trade Every Time
How many times have I kicked myself because I thought I could outsmart my own system? When I first started trading, it seemed perfectly natural to do things like put off placing an order because I was waiting for current news stories to develop favorably, thinking that I, rather than some system, knew more about current market conditions. I thought it was prudent to err on the side of caution, and, in short, I was not pulling the trigger when I was supposed to. This is a recipe for certain failure for any trader. This is true whether you trade off the signals generated by The ETF Digest or by any other system. A wise trader once said, "An inferior system, consistently implemented, is superior to a great system inconsistently implemented."