For example, one of my first assignments was to trade every day or almost every day as without real practice it is not possible to acquire the needed skills for this job. I can say that since setting this assignment it is still active and am actively trading. This helps quite a lot understanding the market on everyday basis as well as notice some features of the underlying instrument which understanding comes with everyday practice. The second important goal I set for myself is to be consistent in my performance. For 4 months there I have managed to keep good profit rate. Then I got too self-confident which kind of ruined my performance. This was a lesson which showed that over confidence is not good as well as too big euphoria about profitable trades is not good.
That is why, now I am starting a new assignment which would follow the following rules:
- to trade only S&P500 - this is the instrument I've been following for many years now and I know the best;
- to initiate trades only when sure it is a good trade - never over trade;
- take losses and never sit on a losing trade in hope it will turn direction;
- take fast profits when market uncertain keep profitable trades when strong trending market;
Okay that would be all, I will stick to this plan and will post here updates as well as my trades and returns.