40 Years Five Unyielding Truths

After 40 years of trading the stock market and the futures market, my conclusions are that there are five absolute truths that need to be followed and never violated.

1st Truth is know the trend so you can trade in that direction. Fighting a trend is a losing batte and trading with the trend is the easiest way to make money. Long side or short side it does not matter as long as that is the trend direction.

2nd Truth is trade markets or stocks that you understand and do not follow blindly the advice of talking heads. Their reason for stating an idea may not be in your best interest. They may be a flack for a brokerage house like they were in 2000.

3rd Truth is trade within your means. Do not push your capital limits. This is often the worst mistake made by new future traders.

4th Truth read a lot and come to your own conclusions. Jesse Livermore said the worst trade he ever made was on the advice of a cotton expert.

5th Truth is trade with controlled fear and controlled optimism. Do not let either emotion ruin your trading.

Current ideas: Gold Silver and Gold Stocks may have some upside potential left, but not like they did when the gold price first broke $800. Look for financially strong retail stores and providers of the staples of every day living as these stocks will be solid investments over the next three years. High tech stocks are always a crap shoot and are not for the weak of heart.

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