Trading Rules that Work – The 28 Essential Lessons Every Trader Must Master
– By Jason Alan Jankovsky
I just finish reading this book, and like it very much. My favourite is rule #9 Don’t over trade. Here are some quotes:
“…overtrading is a symptom of a trader’s impatience with the opportunity he has selected or frustration over the results he has achieved.”
“overtrading is a function of not understanding your time frame properly, not following you rules to begin with, or not following your trade system properly.”
“The symptom of overtrading is often subtle so that by the time you are willing to admit you are doing it, the damage is done.”
The author also gives some advices on how to overcome your issues with overtrading, take a look, it might be very helpful to you.
Other rules like “Your first loss is your best loss”, “know the limits of your analysis”, “be a student of yourself” are very good too. Overall, this book could act as a trading guidelines for novice traders and a self-examiner for professionals. Strongly recommended.
Happy Learning! Happy Trading!
