Here is something a friend sent me and I thought I would share with the group.  Gartman has a very expensive daily newsletter that people pay alot of money. He is always on CNBC and BNN etc.  very w

GARTMAN'S SIMPLE

RULES OF TRADING

1. Never, Ever, Ever, Under Any Circumstance, Add To A Losing

Position... Ever! Adding to losing positions will lead to ruin. You can

count on it. Ask the Economic Nobel Laureates of Long Term Capital!

2. Trade Like A Mercenary Soldier: We must fight on the winning

side, not on the side we may believe to be correct economically.

3. Mental Capital Trumps Real Capital: Capital comes in two types;

mental and real, and holding losing positions costs measurable real

capital, but immeasurable mental capital.

4. We Are Not A Business Of Buying Low And Selling High; We

are, however, a business of buying high and selling higher. Strength

begets strength, and weakness, weakness.

5. In Bull Markets One Can Only Be Long or Neutral, and in bear

markets, one can only be short or neutral. This may seem self-evident,

but very few understand it, and fewer still embrace it.

6. "Markets Can Remain Illogical Far Longer Than You Or I Can

Remain Solvent." These are Lord Keynes' words and illogic does often

reign, despite what the academics would have us believe.

7. Buy Markets That Show The Greatest Strength; Sell Markets

That Show The Greatest Weakness: Metaphorically, when bearish

we need to throw rocks into the wettest paper sacks, for they break

most easily. When bullish we need to sail the strongest winds, for they

carry the farthest.

8. Think Like A Fundamentalist; Trade Like A Technician: The

fundamentals may drive a market and need to be understood, but if the

chart is not bullish, why be bullish? Be bullish when the technicals and

fundamentals, as you understand them, run in tandem.

9. Trading Runs in Cycles; Some Good; Most Bad: Trade large and

aggressively when trading well; trade small and ever smaller when

trading poorly. In "good times," even errors turn to profits; in "bad

times," the most well researched trade will go awry. This is the nature

of trading; accept it and move on.

10. Keep Your Technical Systems Simple: Complicated systems

breed confusion; simplicity breeds elegance. The great traders we've

known have the simplest methods of trading. There is a correlation

here!

11: In Trading/Investing, An Understanding Of Mass Psychology is

Often More Important Than An Understanding of Economics:

Simply put, "When they are cryin', you should be buyin'! and when they

are yellin', you should be sellin'!" This is psychology at work and its

most elegant.

12. Bear Market Corrections Are More Violent And Far Swifter

Than Bull Market Corrections: Why they are is still a mystery to us,

but they are; we accept it as fact and we move on.

13. There Is Never Just One Cockroach: The lesson of bad news

on most stocks is that more shall follow... usually hard upon and always

with detrimental effect upon price, until such time as panic prevails and

the weakest hands finally exit their positions.

14. Be Patient With Winning Trades; Be Enormously Impatient

with Losing Trades: The older we get, the more small losses we take

each year... and our profits grow accordingly.

15. Do More Of That Which Is Working and Less Of That Which

Is Not: This works in life as well as trading. Do the things that have

been proven of merit. Add to winning trades; Cut or eliminate losing

ones. If there is a "secret" to trading (and of life), this is it.

16. All Rules Are Meant To Be Broken.... but only very, very

infrequently. Genius comes in knowing how truly infrequently one can

do so and still prosper.

ell know.  Here goes hope it helps.  Tcp