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taken from a famous market technician
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Technical Tactics for Investing by <A
href="http://www.rjf.com/profiles/bloch.htm";>Ralph Bloch
20 Dos and Don'ts
A disciplined investment approach may provide
a firmer footing as investors weather the ups and downs of the market.
Here are some of the principles featured in Ralph Bloch's booklet
Technical Tactics for Investing. To receive a personal copy of the
booklet, please contact your Financial Advisor. If you are not yet a
client, please use the convenient Office Locator below to find the
office(s) nearest you.
1.
Only buy stock where research information
is available through either research departments or other
statistical services.
2.
Buy stocks only when the technical pattern confirms fundamental
judgment.
3.
Sell quickly if the stock does not act as anticipated.
4.
Try not to be overly bullish or bearish.
5.
Do not overtrade.
6.
Be patient.
7.
Trade with the market and not against it.
8.
Do not attempt to squeeze the last point out of a move.
9.
Try to determine where the market can at least theoretically run
into overhead supply or expect to meet support.
10.
Let profits run; limit losses to a predetermined price and/or
percentage.
11.
Expect the market to do the unexpected.
12.
Commissions are a small price to pay for capital
preservation.
13.
Do not overstay trading positions, as greed is a trader's
constant and greatest enemy.
14.
Do not trade on tips.
15.
Hedge among stocks by sometimes selling a portion of a position
on strength and buying it back on weakness.
16.
Do not fight the tape.
17.
Reduce exposure in a market that may be in the process of
"topping out" after an extended run.
18.
Learn from your mistakes, study your weaknesses.
19.
Do not look back as this can easily lead to distortion of
current and future judgements
20.
No discipline can forecast long-term moves in the
market
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