Martin Pring's Nineteen Trading Rules for Greater Profits.

 Martin Pring's Nineteen Trading Rules for Greater Profits.

1. When in doubt, stay out.

2. Never trade or invest based on hope.

3. Act on your own judgment or else absolutely and entirely on the judgment of another.

4. Buy low (into weakness), sell high (into strength).

5. Don't overtrade.

6. After a successful and profitable campaign, take a trading vacation.

7. Take a periodic mental inventory to see how you are doing.

8. Constantly analyze your mistakes.

9. Don't jump the gun.

10. Don't try to call every market turn.

11. Never enter into a position without first establishing a risk reward.

12. Cut losses, let profits run.

13. Place numerous small bets on low-risk ideas.

14. Look down, not up.

15. Never trade or invest more than you can reasonably afford to lose.

16. Don't fight the trend.

17. Wherever possible, trade liquid markets.

18. Never meet a margin call.

19. If you are going to place a stop, put it at a logical, not convenient, place.

20. Follow the other nineteen rules without question.

From Investment Psychology Explained, Martin J. Pring, 1993, John Wiley & Sons.