Plan your trade and trade your plan: You
must have a trading plan to succeed. A trading plan should consist of a
position, why you enter, stop loss point, profit taking level, plus a
sound money management strategy. A good plan will remove all the
emotions from your trades.
The trend is your friend: Do
not buck the trend. When the market is bullish, go long. On the
reverse, if the market is bearish, you short. Never go against the
trend.