Let me rock in 2011!

I should rock this year..

> Let profit runs. Cut the losses

> Never ever hesitate to follow the signal from system whatsoever loss you are in.

> Remove fear

> Develop patience

Let this 2011 will be a turning point in my trading life!!

Basics for Swing Trading

Stay in one time frame! Yes, it is important to be aware of the big picture, but it should not affect where you get into or out of a trade or how you manage it. Don't turn short-term scalps into "big picture" trades
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When in doubt, get out! If the market goes dull and quiet after you enter a trade and makes no progress in the direction of your entry, do not wait until your stop is hit. Just get out! Seek a more active market or better trading opportunity.
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Don't trade in quiet, dull markets. Dow, Livermore, Rhea, Taylor, Gann-all the greats say this over and over. There must be activity and liquidity in order to trade profitably.
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Don't carry losing positions overnight. Exit and try entering at a more favorable level the next day.
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If the market offers you a windfall much bigger than anticipated profit on a trade, lock it in! Take profits and dont trail stop. You will again get a chance.
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Finally, remember that both in short-term trading and mechanical systems, the distribution of winners is skewed. Most of a month's profits might come from only two or three big trades. Much of the time the individual profits may seem small, but more importantly the losses should be small, too. It is vitally important to lock in" the best trades. Be defensive and don't give back profits when swing trading!
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courtesy : Unknown