Futures Com: Ten Easy to Follow Rules for Futures Trading

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Mike King's
TEN EASY TO FOLLOW RULES FOR FUTURES TRADING
courtesy of Princeton Research

Day Trade Newsletter

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1. ALWAYS TAKE WINDFALL PROFITS

2. Buy Triple Tops and Sell Triple Bottoms

3 Sell Double tops and Buy Double Bottoms

4 The TREND is your Friend

5. Buy a two day break in a BULL market and Sell a two day Rally in a BEAR Market.

6. Go with outside reversals. :
A lower low than the previous day then up above the previous high, constitutes a Buy: The opposite is true with a SELL. Markets always go down faster than they go up. You must follow this rule and SELL.

7. GO with the MIRROR IMAGE. One of the most reliable indicators is the pattern of a single day of market action followed by a reversal of the same or similar length. If on the third day it retraces in the range and then extends in the reversal direction,
GO WITH IT !

8. Always BUY new Contract highs on Friday if the Market is trading within 10 % of it's session highs on the closing range . SELL the close if the market is making new contract lows and is within 10 % of it's session low for the day. This is called the
Weekend Rule.

9. Never trade on Negative equity.

10. Look for a 4 -day or longer congestion Range. Go with the breakout of this range. If the market breaks below the congestion- SELL...
vice versa ..if it Breaks above the Range.

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"Observation. experience , memory and mathematics--These are what a successful trader must depend on. He Must not only observe accurately but remember at all times what he has observed. He cannot bet on the unreasonable or on the unexpected, however strong his personal convictions maybe about man's unreasonableness or however certain he may feel that the unexpected happens very frequently. He must bet always on probabilities--that is try to anticipate them. Years of practice at the game, of constant study, of always remembering, enables the trader to act when the unexpected happens as well as when the expected comes to pass. A man can have great mathematical ability and unusual power of accurate observation and yet fail in speculation unless he also possesses the experience and memory "--Reminiscences of a Stock operator- 1929

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