New traders, remember my words. I have been trading for more than 9 years now:
0. If one stop-loss can hurt your portfolio, you are not trading—you are gambling.
1. If losing one trade makes you emotional, your position size is too big.
2. The market will always be here tomorrow. Your capital might not if you don't protect it.
3. Focus on staying in the game. The traders who survive the longest usually make the most money.
4. Never increase your risk just because you are confident. The market does not care about your confidence.
5. A small account can become a big account. A blown account cannot.
6. The best trade is often the one you didn't take because it didn't meet your rules.
7. Most traders fail because they chase profits. Professionals focus on managing risk.
8. Do not measure success by one trade. Measure it by your results over hundreds of trades.
9. Patience pays more than excitement in this business.
10. The trend on higher time frames is your friend until it clearly changes.
11. Never let a winning trade turn into a losing trade because of greed.
12. The first job of a trader is capital preservation. Everything else comes after that.
13. When in doubt, trade smaller.
14. Opportunities are endless, but your capital is limited. Treat it with respect.
15. Discipline will make you profitable long before any indicator ever will.