Click here to get a PDF of this post

Happy new year“Don’t be a hero. Don’t have an ego. Always question yourself and your ability. Don’t ever feel that you are very good. The second you do, you are dead. My biggest hits have always come after I have had a great period and I started to think that I knew something.” – Paul Tudor Jones

  1. I will shorten my time frame and lock in profits while they are there.
  2. I am going to enter and exit in the first hour of the open and the last hour before the close to avoid the intra-day noise.
  3. I will look to buy deep dips for a better risk/reward ratio.
  4. I will buy only the best breakouts from price ranges.
  5. The long side will be my primary strategy in 2016, because the short side is fighting equities long term uptrend.
  6. I will be reducing my position sizing in 2016 to ensure I never lose more than 1% of my total trading capital on any one trade, even when volatility spikes.
  7. I will be more patient and wait for an end of day signal and not front-run a signal too early.
  8. I will be more patient with winning trades if their is no reason to exit, and less patient with losing trades and exit more quickly when the entry is invalidated.
  9. My #1 focus in 2016 will be to ensure all my losses are very small.
  10. My target gains will be a few percent a month, avoiding the temptation to be too aggressive and aim for large gains in a short amount of time.

I hope everyone has and amazing New Year’s Eve! Happy New Year! Here’s to great trading in 2016!