Trading sensibly and profitably is about having a systematic approach to your stock analysis that also requires budget like control of revenues (profits) and costs (losses).

Here are five things we should always know and might have had to relearn for this year:

1. Heed your stops – nothing is forever.

2. Money management is the key objective for trading and investing survival – have a plan

3. Always be prepared – it might cost you a bit, but you’ll also always be safe and that’s key.

4. Rallies always follow correction – you have control, don’t let the market control you.

5. Be disciplined – follow your system and keep your poise no matter what.