The market can and will stay irrational much longer than you can stay solvent
Do NOT ever make an investment or trade with money you cannot afford to lose
Before you purchase any investment, understand why you are buying it and what your objective is
Never put more than 10% of your capital into one position
Sell your losers and keep your winners
Never average down (see rule #5)
Do not make decisions based on the news – the media usually makes up the story to fit the trend
Do not make a trade because you feel like you to have to trade. Let a trade come to you
If you let your emotions dictate a buy or sell, you will most likely lose
Bulls make money, Bears make money, Pigs get slaughtered
The market is right 100% of the time, what you think should happen doesn’t matter
Don’t listen to your friend about a stock he is sure about. If it’s such a great idea, why would he tell you? Most of the time he will lose, don’t lose with him – misery loves company
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