Imporvement: Don’t forget the basics

It’s always good to remember some trading basics – I think I could sum my own up with 4 Ps:

Patience – wait for your setup, what ever you look for in a trade to show you, based on experience that it’s the right time to get in.

Prudence – only add to onside trades, and don’t add too big – it can dwarf your original (now good trade) and make it uncomfortable, top heavy and liable to “fall over”. Don’t add unless the add itself fulfills your setup requirements.

Pauses – take a break when you get out of a trade, there’s nothing worse than chasing a market and

Protect – secure your capital at all times particularly after wins, giving back gains can pollute your mind frame.

(The above are purely my own opinion and experience – any counter thoughts are welcome!)

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