Steve Burns’ 10 Golden Trading Rules
Steve Burns is trader, author , teacher and blogger.
- Trade based on price action; not opinions, predictions, or emotions.
- Trade in the direction of least resistance in your time frame.
- Develop your own profitable trading system.
- Only trade in markets after you have back tested your system or studied historical charts.
- Use a trading plan that sets the parameters for your system’s implementation.
- Follow your trading plan with discipline.
- Only enter trades with a 1:3 risk to reward ratio.
- Never lose more than 1% of your total trading capital on any one trade.
- Never lose more than 3% of your total trading capital on your worst day.
- Bring your mathematical risk of ruin to as close to zero as possible.
He has authored over 16 short books with easy and understandable content.