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Martin J. Pring has become
a leader in the global investor community since 1969. He is the chairman of money management firm, Pring Turner Capital. He is well known
for developing economic indicators and also for contribution in educating traders and investors. In one of these books, Investment Psychology Explained – Classic Strategies to Beat the Markets,
he lists 19 classic trading rules:
- Rule № 1: When in doubt, stay out. Rule № 2: Never Invest or Trade Based on Hope
- Rule № 3: Act on Your Own Judgment or Else Absolutely and Entirely on the Judgment of Others Rule № 4: Buy Low (into weakness), Sell High (into strength) Rule № 5: Don't Overtrade
- Rule № 6: After a Successful and Profitable Trading Campaign, Take a Trading Vacation
- Rule № 7: Take a Periodic Mental Inventory to Check How You Are DoingRule № 8: Constantly Analyze Your Mistakes
- Rule № 9: Don't Jump the Gun
- Rule № 10: Don't Try to Call Every Market Turn
- Rule № 11: Never Enter into a Position Without First Establishing a Reward to Risk
- Rule № 12: Cut Losses Short, Let Profits Run
- Rule № 13: Place Numerous Bets on Low Risk Ideas Rule № 14: Look Down (at the risk potential) not Up (before your reward potential)
- Rule № 15: Never Trade or Invest More Than you Can Reasonably AffordRule № 16: Don't Fight the Trend
- Rule № 17: Whenever Possible Trade Liquid Markets
- Rule № 18: Never Meet a Margin Call Rule № 19: If You are Going to Place Stop, Put it in a Logical, Not Convenient Place
