1) Know the EDGE of the methods you trade. Make sure you are trading with YOUR EDGE!
2) Have more than one reason for getting into a position.
3) Do not force a trade, there will always be another and better trade down the road. Don't chase, patience is rewarded!
4) When trading multiple contracts, once your first contract is in profit, move your stop to Break Even.
5) Do not trade within 5 minutes of news. Do not trade 5 minutes before 10:00 AM EST and 5 Minutes before 1:00 PM EST. On FOMC and Fed Meeting days, only trade in the morning.
6) After two losers in a row maybe you should stop for the day.
7) Buying and Selling at pullbacks to moving averages and/or trend lines greatly limits losses, enables tighter stops and maximizes profitability.
8) Buying and Selling breakouts above/below moving averages and trend lines greatly limits losses, enables tighter stops and maximizes profitability.
9) Buying and Selling at confluence zones - the coming together of multiple indicators, increases the odds of success.
10) At the end of the day print your trades and print the excellent trades you missed. Review! Review! Review!
STEVEN'S GOLDEN RULES
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THERE IS SUBSTANTIAL RISK IN TRADING. A LOSS INCURRED IN CONNECTION WITH FUTURES TRADING CAN BE SIGNIFICANT. FUTURES MACHINE TRADING MAKES NO CLAIM REGARDING PAST OR FUTURE PERFORMANCE.
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