I will give you a quote given to me when I was 19 years old. "If...

I will give you a quote given to me when I was 19 years old.

"If you want to make a Doctors salary from trading the stock market then be prepared to study for 7 years and do an internship for 3 years before you can apply your craft with confidence"

Of course I ignored this advise - because I was 19, knew it all, made some easy money on trades I knew little about etc etc. I lost it all TWICE before the penny finally dropped.

Some of my Non-Negotiables with respect to trading.

* Research, research, research - Don't let someone else do it for you.

* Find an excuse not to invest in a stock you like - seriously if you can't find one then your not being truly subjective.


* Perspective - If you make 10% on $1,000 73 times in a row you make $1million - Its simple aims like this that make goals achievable

* Paper trade - Get it right at least 80% of the time - YES 80% of the time.

* Stop Loss - keep it tight - if you have money you can fight another day

* Take profit ALWAYS - A profit is a profit. Lock it in. Reset and look for your next entry.

* I don't believe in the word investment - I am a trader - Some trades take longer than others - But I have one goal - MAKE MONEY

* You don't have to be in the market. If you can't find a stock that suits your trading model then stay out until you do

I could go on - but these are just some of my rules - And yes I stick to them. Going bust twice caused me to do this.