1. Link your decision to Price Signals: Treat every trade is a hypothesis
  2. Classify the market (screening out the trivia and noise) and trade the trend
  3. Frame Every Trade: Know exactly how much you have at risk, how much you expect to gain and the likelihood of the outcome
  4. Never “average down” or buy a second position if a first position becomes unprofitable
  5. The distance from an entry point to a prospective stop should never be more than 2% of total account equity
  6. “Pyramid” into a long position in steps of approximately 25%, 35% and 40% of the intended full buy
  7. On exit, “Pyramid” out of a position at 40%, 35% and 25%
  8. Don’t make decisions during trading hours
  9. Don’t try to be right; accept uncertainty
  10. Reviews any lessons from your trade
  11. Keep calm and carry on

Also see: