Hawkeye Traders
2009-05-12 12:57:18 UTC
Every trader understands that he must follow his trading rules -- but
following the rules is the most difficult part! After all, why is
following the rules so important in our trading?
The psychology behind setting rules is simple -- trading has a direct
and immediate result on trader's cash flow, which causes traders to
become emotional. A good analogy is -- how effective would you have
been at your old job if you were constantly worried whether you would
receive a paycheck that week? Would you have been focused on doing
quality work under the stress of possibly not receiving a paycheck?
At the end of the day, it is very easy to say, the rules did not work.
However, a one-day analysis is not accurate. If at the end of the
month, your monthly Profit/Loss is negative AND you followed the
rules, then maybe it is time to tweak your rules. However, as many
other professional traders have said, at the end of the month, 90% of
the time it is not your rules but YOU -- because you did not following
the rules.
Remember these general trading rules and create your trading plan
around them.
• Trade based on your trading plan
• Understand the rules of your system and trading method
• Keep records of your trades
• Only trade when you have a positive mental attitude
• Trade your chart, not your opinion
• Don’t fight with the market
• Use your stops
• Know your profit targets
• Study the market before you trade
• Don’t let a positive trade turn into negative
• Do not add to a losing position
• Successful traders never stop studying the markets
• Never jump into the market if you are in doubt
• Use money management techniques in your trading
• Don’t become married to one timeframe, find the best probabilities
• Exercise Discipline, be patience and let the trade come to you
• Avoid jumping in and out
• Avoid large positions that you can’t manage
• Trading is not a game, it is your business
In the Hawkeye Traders live trading sessions, we follow a defined set
of trading rules. We teach our traders to build confidence by using a
defined trading plan that incorporates a successful trading method.
Visit our website http://www.HawkeyeTraders.com to learn more about
trading based on VSA.
Join Hawkeye Traders FREE live market trading sessions every week. We
will demonstrate the trades with step by step process and live
commentary. Also we will walk you through different trading
opportunities and answering your questions. Join every session and
enjoy a successful trading method that revolutionizes your trading.
FOREX TRADING -7:30 AM EST
FUTURES TRADING – 9:30AM EST
To join these special live trading sessions, go to:
https://hawkeyetraders.ilinc.com
Under Public Sessions, click on the Join tab at the top. Once the
sessions are listed, click on the Join option for the live sessions.
You will then need to input your First Name, Last Name, and email
address. You can perform a system test before joining the session by
clicking on the System Test at the top of the window.
Experience a systematic approach to trading with a concrete trading
method!
following the rules is the most difficult part! After all, why is
following the rules so important in our trading?
The psychology behind setting rules is simple -- trading has a direct
and immediate result on trader's cash flow, which causes traders to
become emotional. A good analogy is -- how effective would you have
been at your old job if you were constantly worried whether you would
receive a paycheck that week? Would you have been focused on doing
quality work under the stress of possibly not receiving a paycheck?
At the end of the day, it is very easy to say, the rules did not work.
However, a one-day analysis is not accurate. If at the end of the
month, your monthly Profit/Loss is negative AND you followed the
rules, then maybe it is time to tweak your rules. However, as many
other professional traders have said, at the end of the month, 90% of
the time it is not your rules but YOU -- because you did not following
the rules.
Remember these general trading rules and create your trading plan
around them.
• Trade based on your trading plan
• Understand the rules of your system and trading method
• Keep records of your trades
• Only trade when you have a positive mental attitude
• Trade your chart, not your opinion
• Don’t fight with the market
• Use your stops
• Know your profit targets
• Study the market before you trade
• Don’t let a positive trade turn into negative
• Do not add to a losing position
• Successful traders never stop studying the markets
• Never jump into the market if you are in doubt
• Use money management techniques in your trading
• Don’t become married to one timeframe, find the best probabilities
• Exercise Discipline, be patience and let the trade come to you
• Avoid jumping in and out
• Avoid large positions that you can’t manage
• Trading is not a game, it is your business
In the Hawkeye Traders live trading sessions, we follow a defined set
of trading rules. We teach our traders to build confidence by using a
defined trading plan that incorporates a successful trading method.
Visit our website http://www.HawkeyeTraders.com to learn more about
trading based on VSA.
Join Hawkeye Traders FREE live market trading sessions every week. We
will demonstrate the trades with step by step process and live
commentary. Also we will walk you through different trading
opportunities and answering your questions. Join every session and
enjoy a successful trading method that revolutionizes your trading.
FOREX TRADING -7:30 AM EST
FUTURES TRADING – 9:30AM EST
To join these special live trading sessions, go to:
https://hawkeyetraders.ilinc.com
Under Public Sessions, click on the Join tab at the top. Once the
sessions are listed, click on the Join option for the live sessions.
You will then need to input your First Name, Last Name, and email
address. You can perform a system test before joining the session by
clicking on the System Test at the top of the window.
Experience a systematic approach to trading with a concrete trading
method!