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

Limit Up! is a podcast for traders of all levels brought to you by Topstep. Whether you’re considering a career in trading and don’t know where to start, or you’re a seasoned veteran looking for advice from big names in the financial industry, Limit Up! is your guide. Join us weekly as we discuss the market in all of its volatile glory. Risk Disclosure: https://www.topstep.com/risk-disclosure/

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Podcast episode production by Dante32.