The Rules

Every once in awhile I see another set of "trading rules" being published by one or another of the blogs. Many times one reprints a set from somewhere else and then others provide links to the reprint. There is nothing wrong with that but here, finally, is the only set of rules you will ever need in trading.

1. Nobody knows nothing.
2. Trust your instincts - if it looks bad it is.
3. When in doubt refer to rule #1 and add "including you".

This means - if you can't figure it out on your own you need to get a different job, hobby, career. Trading is not your game. I busted out several times before I finally learned how. And what I learned was to stop following self-proclaimed gurus. If they really knew about the next hot stock - why the hell would they tell you?

And you can trust me on this, when somebody says that all he wants to do is make you rich - really - all he wants to do is make himself richer. Take it to the bank.