Trading Rules

It is not easy to be discipline. I had fallen into the trap many times. The latest was Renewable Energy. I suffer a loss of 26% which is way above my usual cut loss point of 12%. Another counter was Mun Siong. Also suffer losses of 18%. I finally decided to sell them off and focus my effort on more promising counters. These were the highest losses I took for this year. My short term trade usually has a cut off point of a few ticks below the support or 3-4 consecutive black bars and down trend.
Even though I expected the price will recover soon, I still take losses. For example, CapitaMallAsia (CMA), I decided to sell away at 10% losses even though I thought it will re-bounce soon.