Trading Rules

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These can vary to some extent depending on the system being used, because the system builder who is teaching it can have their own specific rules in relation to the system. The trading term, whether it is LONG, MEDIUM or SHORT can also be a factor in determining the rules. But whatever the rules are FOLLOW THEM. The most common failure of people is to break the rules, and once you break one rule it can become open slather to break other rules.

I know, I made a donation to the market by not exiting when the price gapped down below a stop loss of a supposed Blue Chip stock. I kept it expecting it to come back, but it was suspended.

Begin with a system. Follow the system, especially if it is one that you have paid money to learn, because it should be a thoroughly tested system/strategy. But recognise that no system will win all the time. There will be periods where it can fail.
Enter on the System buy signals.
Exit on the System sell signals.
Be disciplined and keep accurate records of your trades, both winners and losers. Use the records to develop the statistics of your trading results and analyse them to see where you can improve.
The Trend is your friend. Trade in the direction of the trend, not against it.
Protect your Principal. When the price gaps past your stop loss exit the trade as soon as possible.
Protect your Profits. Have an exit strategy before you enter the trade. Use it.
Risk management is ultimately more important than anything else.
Make your OWN decisions and be responsible for them. Do NOT blame others.
Always Backtest any system you are building before you implement it.
ALWAYS be DISCIPLINED and FOLLOW the SYSTEM. Without discipline you are not following a system.