My 4 Golden Rules
- Allowed Big winners.
- Allowed small winners.
- Allowed small losers.
- NOT allowed big losers.
6 Points to Success
- Always determine your environment. (Up/down)
- Always assess your goals. (Please be realistic)
- Have Realistic expectations. (Don’t expect to make a million your first year)
- Be disciplined. (Treat it like a real business)
- Make sure you have appropriate capital. (You need money to make money)
- Take responsibility. (Don’t play the “Blame Game”, it’s a waste of energy)
- Make a Plan and Follow the plan.
- Avoid outside distractions
- When you take a loss, Move on.
- Let your profits run.
- Be consistent with your share and order sizes. Always be Decisive.
- Be diligent and punctual.
- have a positive attitude whether the day before was a winner or a loser.
- Keep an open mind.
- Be aware of new trends.
- Keep track of your results.
Trading Day Hours
9:30am – the opening rush.
9:50am – 1st reversal.
9:50am to 12:00pm – perfect time to trade
12:00pm to 2:00pm – known as lunch trading
2:00pm to 2:45pm – perfect time to trade
2:45pm to 3:00pm – bonds closing
3:00pm to 3:45pm – good trading
3:45pm to 4:00pm – closing, may be unpredictable
Trading Times of the Year
Jan – usually up trend
Feb – usually up trend
Mar – first quarter earnings (hot?)
Apr – tax time, can be up trend
May – spring rally, up trend
Jun – down trend, be careful
Jul – down trend, be careful
Aug – flat, vocation time
Sep – down trend, sell off
Oct – down trend, sell off
Nov – Santa Claus rally begins
Dec – Santa Claus rally + tax cleanup