Posted on October 26th, 2009 at 1:00 PM

   1. Always trade with a stop.
   2. Always leave your stop alone once it has been placed. Moving orders around prematurely tends to make things more difficult than they need to be.
   3. Think in terms of risk. When you control risk, reward has a way of showing up more easily.
   4. Stay away from stock message boards. They are usually full of disinformation and people who know less than you do.
   5. Learn to trust your instincts. Many people second guess theirs. This comes with experience.
   6. Competence leads to confidence, not the other way around. Study the market daily and your confidence will increase as a result.
   7. Trading is a marathon, not a sprint. We always hear about the overnight success stories, but it is because they are exceptions and not the norm.
   8. Turn off the TV. The financial channels do not have any vested interest in your trading or investment strategies.
   9. Trading with Gann changes everything. Period.
  10. Find a mentor and learn everything you can from them. Many experienced traders are happy to share knowledge to people who truly want to spend the time, energy and effort to learn.

 
Trade Smart

~Duane Gott

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