ALWAYS DEFINE YOUR
GOALS - PER YEAR - PER TRADE.
REMEMBER the RULE of 72 (7 trades of 10% will DOUBLE your money)
MAKE YOUR OWN DECISIONS.
NEVER TRADE on TIPS or NEWS REPORTS - NEVER.
NEVER TRADE when you're not physically well.
(Unless your Trading System has triggered a Signal)
NEVER TRADE without having seen a chart of the security.
ONLY TRADE the NEW YORK or AMERICAN Exchange market.
(AVOID the NASDAQ market at all costs - or PAY ALL COSTS)
ONLY TRADE Securities making PROPER TECHNICAL PATTERNS.
NEVER TRADE Securities that sell for LESS than $10.
ALWAYS keep your TOTAL COMMISSIONS LESS than 3.6% of TOTAL TRADE.
NEVER TRADE if 30% or more of the Security is owned by ONE ENTITY.
ALWAYS Identify ENTRY & EXIT BEFORE taking ANY position.
ONLY TRADE TWO different STOCKS at any one time in ONE account.
(You won't be able to compromise your position as quickly this way)
ALWAYS TRADE on the OPEN of TOMORROW - NO INTRA-DAY.
(Unless you have a Market STOP set)
ALWAYS LOOK BACK at what happened AFTER you EXIT a TRADE.
NEVER CHANGE the RULES DURING an ACTIVE TRADE.
NEVER HESITATE to admit that you were wrong.
NEVER CHASE a stock after the Buy signal has past. The only way you
should buy a stock after the signal is history, is if the current price is
WITHIN 10% of the original opening price after the Buy signal.