Link: Lauriston Letter – Golden Trading Rules

Apr 23, 2007: 7:33 PM CST

Lauriston at the Lauriston Letter recently polled readers to send in their responses regarding what would be the top ten fundamental (or core) trading rules to follow.

The responses are compiled here (at this link) and include not only critical insights into the highest probability activities, but insights from traders helping other traders.

The Lauriston Letter always has excellent participation in terms of comments of readers, and you can gain insights from reading post responses as well.

Study the list and see what you would add or take out of the list and drop Lauriston a line if you have personal insights.

2 Comments

2 Responses to “Link: Lauriston Letter – Golden Trading Rules”

  1. Lauriston Says:

    Hi Corey

    Thanks for the mention. I am always surprised how many times people break these “simple” but essential rules (myself included). I have to say since I published the compilation I have broken just one (trend) and that was intentionally knowing I was putting on a counter-trend trade that anyway didn’t work out! I did obey the stop limit! I am already seeing some positive effects of having those rules on my desk. I think everyone knows these rules, but obeying them is another matter. Something always seems to muddy the waters, but now I am determined to follow them to the letter. Today I did not put on a single trade nor close any, based purely on looking at the list of 10 rules, and I feel good about that at the end of the day! I am determined to do that every single day now, and I will let you know in a few weeks how it has changed my trading! Good luck!

  2. Corey Says:

    Lauriston,

    No problem! Thank you for compiling the list! It was most helpful for me to review it – I always love to hear readers’ perspectives as well so I very much enjoyed your post.

    I have a few rules by my computer screen and find them helpful, especially if I feel like I just have to jump into a trade, the list is there to reign in my greed. It also helped when I was afraid to put on a position – if the market aligned and signaled a trade, I would force myself to take it, even though I was afraid it could wind up in a loss. Many good experiences (and profits) came from trading with discipline and following the rules. It also helps me during losing trades or a series of losing trades because I know I am doing the best I can and the market only offers probabilities, never certainties, and there will be losses.

    I always love your posts and look forward to more!