In my last post, K.I.S.S – Keep It Simple Stupid, I have mentioned that it’s of utmost importance, to be disciplined in your trading. There are a few general rules, that every trader should know and should follow, like “cut your losses and let your profits run” and to always use a stop loss to save the traders capital.
I want to give you two great links, that I recently found and find very useful:
The 25-Point Mantra: Discipline for Day Trading by Douglas E. Zalesky.
Those 25 rules are what it’s really all about in trading. Being disciplined to master the markets each and every day. I have printed this 25 rules and from now on, I wil read it before I start my trading session to recap those rules and becoming a better, successful trader. You can get the PDF file here, if you want to print it, too.
Citations from successful traders
If you don’t want to read the whole books, you can find the most important citations about trading on this website. Those citations are from some of my favorite books:
- Market Wizards: Interviews with Top Traders
- The New Market Wizards: Conversations with America’s Top Traders
- Trading for a Living: Psychology, Trading Tactics, Money Management
- Trade Your Way to Financial Freedom
In my opinion, those citations are really helpful to understand how to become a successful trader. I mean, hey… those cited traders should know what they are talking about – some of them make millions of dollars each year.