I have recently been thinking about what my solid rules for exiting a trade. When should I realize a losing trade? When do I call it quits for the day? I was talking to my dad the other day about trading and told him of my new blog that I was thinking about writing. I told him the title and immediately he broke into the Kenny Rogers song of “The Gambler” so I’m sorry if that song is stuck in your head for the rest of the blog. Go on I will give you a minute to sing it…OK, lets move on!

I have recently been reading about visualization and staying positive. I know that may seem a little crazy to some of you but let me tell you how it has helped my trading. I have been thinking about what my perfect trade looks like. In the chat room this is a common topic that comes up. There are a couple of different things that I look for such as the slope of the MACD and the Bollinger Bands leading the markets, but that's not all! You have heard us say in the chat room that the perfect trade is one that follows your plan. While this is very true there is still a little more…