Trade - Tips

1. Always minimize risk in every way you can.
2. Always trade against some kind of reference point. A reference point is one at which you might decide you are wrong and get out depending on what action is seen at that point. Perhaps this can be summarized as "know the potential downside whenever you enter a trade."
3. Stay with positions unless you see something which definitely changes your position.
4. It is generally best to wait for some form of confirmation before adopting a position.
5. Whenever you enter a position know at what level you would get out and at what level you would hedge (if appropriate). Make sure you do so.