- You only have three choices when you are in a bad position, and it is not hard to figure out what to do: (1) Get Out, (2) double up, or (3) spread it off. I have always found getting out to be the best of all three choices.
- No opinion on the market or you are doubtful about market direction? Then stay out. Remember, when in doubt, stay out.
- Don’t ever let anyone know how big your wallet is, and don’t ever let anyone know how small it is either
- If you snooze, you lose. Know your markets, when they trade, and what reports will affect the market price.
- The markets will always let you in on the losers; the market’s job is to keep you out of winners. Dump the dogs and ride the winning tide.
- Stops are not for sissies.
- Plan your trade, than trade your plan. He who fails to plan, plans to fail.
- But the rumor and sell the fact. Watch for volatility in these situations; it usualy marks tops or bottoms in the markets.
- Buy low, sell high. Or buy it when nobody wants it, and sell it when everybody has to have it!
- It’s okay to lose your shirt, just don’t lose your plants; that is where your wallet is.
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