A Good Trade -One Liner

• A good trade is based on your trading plan; a bad trade is based on emotions and beliefs.
• A good trade is based on your own personal edge; a bad trade is based on your opinion.
• • “A trader should have no opinion.  The stronger your opinion, the harder it is to get out of a losing position.”  -Paul Rotter
• A good trade is made using your own time frame; a bad trade changes timeframe due to a loss.
• A good trade is made in reaction to current price reality; a bad trade is made based on personal judgment.
• • Your plans can make you money because you’re not trying go predict what will happen; you’re adjusting in real time to what is happening.
  • Always trade in the direction of the longer-term trend of your time frame where the easiest money is located.
• A good trade is made after identifying and trading with the trend; a bad trade fights the trend.
• • “The answer to the question, ‘What’s the trend?’ is the question, ‘What’s your timeframe?”  -Richard Weissman
• A good trade is made using the trading vehicles you are an expert in; a bad trade is when you trade unfamiliar markets.
• • In the markets you will see that money flows from those who have not done their homework to those who have”