Trading Principles

1. Choose simplicity over complexity
KISS - Keep it Simple and Straightforward. Learn the basics of trading and technical analysis and apply them. Complexity may sell, but simplicity will make money. 

2. Make your own investment decisions
The best person to take an investment or trading decision for you is you. 

3. Maintain proper temperament
Stay calm and disciplined and follow your process. 

4. Be patient
Patience is a skill every trader has to develop. No trader or investor becomes an overnight success. It takes time. 

5. Concentrate your stock investments
Don't have more than ten positions open at any one time. 

6. Practice inactivity, not hyperactivity
At times, doing nothing is the best strategy. Traders shouldn't mistake activity for achievement. 

7. Don't look at the ticker
One should do adequate research of the stock before taking a position. Then let it run its course. 

8. Stay within your circle of competence
A trader should stick to areas he understands. And when trying new things, he should equip himself with proper knowledge before making a decision. 

9. Be fearful when others are greedy and greedy when others are fearful
If you want to profit from trading, you have to trade based on others' emotions rather than trading on your own emotions. 

10. Read, read some more, and then think
Every trader should inculcate the habit of reading. Reading broadens our horizons and helps us think in new ways. 

11. Use all your horsepower
A trader has to plan his trade and then check if he is trading according to his plan. A trader should create a habit of recording his trades in a trading journal and making notes before, during, and after the trade. 

12. Avoid the costly mistakes of others
Traders can take inspiration from other traders' success, but they should never forget to learn from others' failures as well.