Gann’s Trading Rules : • Never risk more than 10% of your trading capital in a single trade. (This is Very High I suggest 2-5%) • Always use stop-loss orders.(VERY VERY IMPORTANT!) • Never overtrade. • Never let a profit run into a loss.( Yes its demoralizing bad place for us traders) • Don t enter a trade if you are unsure of the trend. Never buck the trend. • When in doubt, get out, and dont get in when in doubt.(Very Important Do Force A trade) • Only trade active markets. • Distribute your risk equally among different markets. • Never limit your orders. Trade at the market. (I disagree here) • Dont close trades without a good reason. • Extra monies from successful trades should be placed in a separate account. • Never trade to scalp a profit. • Never average a loss. • Never get out of the market because you have lost patience or get in because you are anxious from waiting. • Avoid taking small profits and large losses. • Never cancel a stop loss after you have placed the trade. • Avoid getting in and out of the market too often. • Be willing to make money from both sides of the market. (Be Flexible) • Never buy or sell just because the price is low or high.(Pick Your Points No Emotion Please!) • Pyramiding should be accomplished once it has crossed resistance levels and broken zones of distribution.(Only Pyramid in the money or at predetermined levels.) • Pyramid issues that have a strong trend.(Add Quickly as the market zooms in your favor and has broken technical levels you have placed. Do this with a smaller amount then the core trade! Example short 200,00 on the pyramid sell 100,000) • Never hedge a losing position. • Never change your position without a good reason. • Avoid trading after long periods of success or failure. • Dont try to guess tops or bottoms. • Dont follow a blind mans advice. (Real Cool Rule No one knows better then you.) • Reduce trading after the first loss; never increase.(pair down when losing, ramp back up when winning) • Avoid getting in wrong and out wrong; or getting in right and out wrong. This is making a double mistake.
Posted on: Mon, 02 Dec 2013 02:24:25 +0000
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