Forex Trading Articles
THE 10 CARDINAL RULES

Forexmentor Team
© 2006, Currex Investment Services Inc.

Dec 30, 2006

The following rules are taken from “Trading to Win” written by Ari Kiev and we suggest printing them out and reading them everyday, so that eventually they become part of your beliefs. Another one of the MUST be on your trading bookshelf.

The 10 Cardinal Rules:

1. Learn to function in a tense, unstructured, and unpredictable environment.

2. Be an independent thinker versus a conventional thinker.

3. Work out a way to handle your emotions and maintain objectivity.

4. Don't rely on hope and fear in the conventional sense.

5. Work continuously to improve yourself, giving importance to selfexamination and recognizing that your personality and way of responding to events are a critical part of the game. This requires continuous coaching.

6. Modify your normal responses to certain events.

7. Be willing to face problems, understand them, and recognize that they are in some way related to your behavior.

8. Know when problems can be resolved and then apply methods to solve them. That may mean giving up some control in order to gain a different control. It may mean changes in your personality, learning self-reliance, or giving up independence and ego to become part of a trading team.

9. Understand the larger framework in which trading occurs : how the complexity of the marketplace and your personality both must be taken into account in order to develop the mastery of trading.

10. Develop the right mindset for trading : a willingness to commit to the kinds of changes in personal habits and beliefs that will drastically alter your life. To do this requires a willingness to surrender to the forces of the game. In order to be able to play at a maximum level, you have to let go of your ego and you r need to have things your way.

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