COMMON AND MUST TO KNOW TRADING RULES

• Always have a trading plan. Never trade without a trading plan (a trading plan consists of a trading system which is made of few components)
• Never trade without a StopLoss (Repeat 10 times).
• Never ever hold on to a losing position. Never average/add to a losing position. (Repeat 10 times).
• Let your profits growing. Add to your winning trades.
• Trade on Rumors and Exit at news. But be care ful while following this strategy.
• Never discuss your trading position to anyone else.
• Control your emotions. You cannot control the market but definitely control yourself.
• Never try to become a perfectionist or Best. Try to become ‘better than others’ and ‘above average’.
• Follow your trading system. Let the system prove itself right or wrong; before changing it.
• Never ever over trade (repeat 10 times).
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  So, what you are intraday trader, Learn basics of stock market. Learn the intermediate and long-term trend etc.
• If you are starting new or re-starting; begin with paper trading.
• Don’t think of earning regular salary/income in markets while trading. Because trading is not a job it’s a business.
• Cut the losses small and let the profits grow.
• Learn to understand the ‘general condition’ principle’ argued by Edvin Lafarve in book ‘Reminiscence of a Stock Operator’.
• Learn to both; buy-n-trade and short-n-trade. But try–More buy-n-trade in bull market and sell-n-trade in bear phase.
• Don’t be greedy. Remain reasonable. Don’t try to make killing once in every week. You can expect it only once in months.
• Clearly decide what you expect from trading.
• Tell yourself and accept the risks of trading.
• Never bet your life-savings in markets.
• Learn from the successful traders. Learn from unsuccessful traders more.
• See how successful traders do it. But note that every person has to accommodate success rules as per his own attitude and composure.
• Money management plans and risk management are as much important as much the trading system (which will decide the accuracy of your trades)
• Remain alert that you don’t slip into speculation while trading.
• Never turn a trading position into investment position because you don’t want to take mental hit of booking loss.
• Maintain proper record of your activity. Also maintain a daily diary of your progress/lessons/experience in trading.