Page 21 - Futures Money Machine-Study Session #6

McDowell’s Tips …

• The definition of an uptrend is higher highs and higher lows.

• The definition of a down-trend is lower lows and lower highs.

• Don’t get married to your trade, stay objective.

• If you feel tired, stressed, angry, upset, or sick do not place a new trade that day.

• For chart traders, place your monitors above eye level, and never below. Studies show this

improves performance.

• Never trade without a stop-loss exit in place.

• Always get out and exit the trade when stops are hit.

• Paper trade successfully before trading with real money.

• Have balance in your life.

• Never trade with money you cannot afford to risk.

• Keep up with the technology, update your computer when needed.

• Don’t have excessive price history on intraday charts, this will really slow your chart loading.