* Always use stop-loss orders.
* Never overtrade.
* Never let a profit run into a loss.
* Don 't enter a trade if you are unsure of the trend. Never buck the trend.
* When in doubt, get out, and don't get in when in doubt.
* Only trade active markets.
* Distribute your risk equally among different markets.
* Never limit your orders. Trade at the market.
* Don't close trades without a good reason.
* Extra monies from successful trades should be placed in a separate account.
* Never trade to scalp a profit.
* Never average a loss.
* Never get out of the market because you have lost patience or get in because you are anxious from waiting.
* Avoid taking small profits and large losses.
* Never cancel a stop loss after you have placed the trade.
* Avoid getting in and out of the market too often.
* Be willing to make money from both sides of the market.
* Never buy or sell just because the price is low or high.
* Pyramiding should be accomplished once it has crossed resistance levels and broken zones of distribution.
* Pyramid issues that have a strong trend.
* Never hedge a losing position.
* Never change your position without a good reason.
* Avoid trading after long periods of success or failure.
* Don't try to guess tops or bottoms.
* Don't follow a blind man's advice.
* Reduce trading after the first loss; never increase.
* Avoid getting in wrong and out wrong; or getting in right and out wrong. This is making a double mistake.