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Tackle Today: The 7 Rules of Solon

May 7, 2019

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Tackle Today: The 7 Rules of Solon

≈ Ignore them at your own peril. ≈

All of us Coaches at Tackle Trading were, at some point in our lives, newbies. Greenhorns. Rookies. Freshmen. It is the battlefield of the financial markets that turned us into veterans. The thick layer comes with experience. Comes with errors, thousands of them. We know our limits because we’ve got to the edge of chaos so many times. We dominated our fear, greed, hope, and despair although many times we felt overpowered and overwhelmed by them. However, we are Navy SEALs in our own craft: if it doesn’t suck, it’s not worth doing. This is our mantra.

At Tackle, we cultivate not only great respect towards the veterans that came way before us but also great respect for the newbies that came and are still coming after us.

A while ago, Solon Stephanou, one of our beloved Coaches, published an article narrating the story of his first year as a trader. In that article, Solon compiled his first year as a trader in 7 basic rules. Here are they:

  • Rule #1: Protect capital
  • Rule #2: Keep position sizes consistent
  • Rule #3: Take profit when available
  • Rule #4: Never ride trades to expiration
  • Rule #5: Less is more
  • Rule #6: Always leave room to hedge
  • Rule #7: Think risk before profit

Further explanation of each topic is laid out in the Chart of the Day.

Use them as a source of inspiration, guidance, support or as a base for your business’ strategic planning. Ignore them at your own peril.

Newbies help newbies. Veterans help newbies. Veterans help veterans. This is what our community is all about.

Chart of the Day

The 7 Rules of Solon

Chart of the Day: The 7 Rules of Solon

Video of the day

How to use the Clubhouse at Tackle Trading

In this video, Coach Tim Justice explains step by step how to use Tackle’s community platform, The Clubhouse.

Today’s line up

Tales of a Technician

Trading the Trump Torpedo

Last Friday’s stock rally was legit. The large jobs beat kicked-off a buying frenzy that finally sent the small-cap-laden Russell 2000 Index through the pivotal $1600 resistance zone. Equities ended on a high note across the board.

Traders Lounge 11PM EST

Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.

The Coaches Show 8:30PM EST

This is our weekly MasterMind group. Join the coaches tonight, 8:30pm EST to discuss the markets and help you prepare for the week.

Halftime Report 12:30PM EST

The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day and fun in a way that only Matt and Tim can deliver.

Market Recap

The Market Recap is designed to give you a quick overview of the day that was. While brief, this report is designed to cover all of the major events that drove the markets that day and help you plan for the trading day ahead.

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