We let price prove itself before committing our money.
The sooner you accept that you really don't know the future, the sooner you will trade with 100 times less stress.
The trend is your friend.
We rarely catch the exact top or bottom of a trend so don't expect to.
Every trend ends.
Every sideways market ends.
We make less in a sideways market and that is ok. Since we never know when the sideways market will break into a new trend we always trade though sideways markets. We never "quit" trading as that would mean that we think we know the future.
We hold our winners to our targets. If we take profits early we will be shooting ourselves in the foot.
You don't need lots of indicators to make a correct and sound trading decision.
Losing 1-2% on a trade is not the end of the world. We stick to our trading plan regardless of draw downs and losing streaks.
We stick to our trading plan and risk levels regardless of hot winning streaks.
If we don't do our add-on trades when we are supposed to we are not maximizing the trend and hence we are shooting ourselves in the foot
The market can stay irrational longer than most traders can stay rational. That is another reason why it is better to trade off of price than off of fundamentals.
Only fools add to losing trades or move their stops to have more risk.
Good traders don't make ungrounded statements.
We measure RRR on every trade.
We don't pay attention to MSNBC, other news networks, chat rooms, hot tips, brokers, or any other outside influences. If they could trade, they would and quit their jobs.
All trading involves risk. Please read full risk disclosure here:
http://www.etftrendtrading.com/risk-disclosure.html
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