We're just now starting the second half of the year. Do you remember your New Year's trading resolutions? I hope so, but if not, here they are again. Whether you stuck to some of them, all of them, or none of them, I feel it's never to late to start being disciplined. The decision-making process in your head can be as instantaneous as you really want it to be. Let's make the second half of 2007 great, and profitable.

The important part for you as a trader is to set self-management rules that you are committed to, and that are acheivable. All twelve of these fit the bill, but don't underestimate the challange that each will bring. (note: I write these in the present tense, to ingrain them into my current behavior, not some future behavior).

1. I do not trade every day just because I feel as if I have to.

2. I develop a proven trading system, and realize that one bad trade does not negate the system.

3. I set profit targets, and will take those profits when they are achieved. I will not change targets in an effort to create "just a little more" profit.

4. I do not let emotions sway my trade decisions.

5. I approach trading as a business. I am strategic and logical.

6. I learn something every day, no matter how small, that gives me a greater trading edge.

7. I keep a trading journal, and note when and why my analysis failed and succeeded. I review this journal weekly and monthly.

8. I do not fight the market. I capitalize on whichever direction the market is going.

9. I take small losses rather than let them become large losses. I don't have to be correct with every trade.

10. I am an expert in one area of trading, whether it be options, one certain stock, or an index. I master every detail particular to those trades.

11. I invest in my success, whether it is a book, market data, or a trading coach.

12. I act upon what the market is doing, rather than what I think it "should" be doing.

Price Headley is the founder and chief analyst of BigTrends.com.