Trading Rules of the Godfather of Trend School Jesse Livermore✨️
1. Cut your losses quickly.
2. Let winning trades run.
3. Let your profits grow.
4. Trade only when the odds are in your favor.
5. Follow the trend.
6. Be patient and disciplined.
7. Control your emotions.
8. Do not increase your amounts in a losing trade.
9. Avoid excessive trading.
10. Focus on risk management.
11. Stick to your trading plan and avoid impulsive decisions.
12. Continue learning market strategies and trends.
13. Use stop loss orders to protect capital in volatile markets.
14. Diversify your portfolio to reduce risk.
15. Review and analyze your trades to learn from successes and failures.
16. Follow economic indicators and news that may affect the markets.
17. Focus on the psychological side of trading to develop a strong mindset.
18. Surround yourself with a supportive community of traders for ideas and advice.
19. Practice good money management to maintain and grow your trading account.
20. Remember that consistency and discipline are the keys to long-term trading success.
21. Develop a trading log to track your trades, decisions, and results for continuous improvement.
22. Stay informed of global events and geopolitical factors that may affect market movement.
23. Practice properly sizing trades to effectively manage risk and avoid overexposure to any one trade.
24. Consider the impact of trading costs, such as commissions and fees, on your overall profitability.
25. Take advantage of technology and use trading tools and software to enhance your analysis and trade execution.
26. Test trading strategies to evaluate their effectiveness before applying them in real trading.
27. Seek advice from experienced traders or mentors to gain valuable insights and guidance on your trading style.
28. Be flexible and receptive to adjusting your strategies based on changing market conditions and new information.
29. Prioritize self-care and mental health to maintain focus and resilience during difficult trading periods.
30. Remember that trading is a journey of continuous learning and improvement, and that success depends on dedication, perseverance, and a commitment to continuous improvement.
