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Trading Education Posted by Team Topstep May 3, 2019

REWIND: Cardinal Rules of Trading with Trader and Coach John Hoagland

To trade well, you have to make good decisions. But we are irrational and impulsive. That’s why we need rules. In this Rewind episode, trader and trading coach John Hoagland talks about his cardinal rules of trading. Rules which he honed on the floor of the CME for more than a decade and that still serve him well in his electronic trading today.

  • [03:02] Hoagland’s cardinal rules of trading
  • [03:53] Applicability to electronic trading
  • [05:13] Remembering the rules as you trade
  • [07:11] Rule 1: Prices do not have to do anything
  • [10:32] Rule 2: See Rule 1
  • [11:40] Rule 3: Learn to function in a tense, unstructured, and unpredictable environment
  • [13:42] Rule 4: Keeping a journal
  • [16:44] Rule 5: Find your trade; trade your plan
  • [17:26] Why people hesitate on their plans
  • [19:54] Rule 6: Follow the signals, not the cents

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Podcast episode production by Dante32.