October 7, 2008

lessons learned

At the end of a very unsuccessful day ( almost all my new trades were stopped out ) here are the lessons of the day:

  1. always trade in the direction of the market sentiment ( for this I will make a small research in a future post)
  2. don't hold more than 5-6 positions at one time. Instead of adding a new position to your portfolio you'd better filter the ones you have and maybe then add others.
  3. don't enter too many position in one day ( no more than two I would say per day)
  4. don't enter too many positions per week ( no more than 4 per week)