The trend is your friend, don't fight the tape.

Trade with the prevailing direction, not against it.

Let profits run, take losses quickly.

Cut losers fast. Let winners compound.

Your reason to buy has a half life. Sell once it's gone.

Every edge decays. Exit when the thesis expires, not when it feels comfortable.

Adapt to change.

Markets shift regimes. A rigid system eventually breaks.

Don't let what you think should happen bias your trading strategy.

Trade what the tape is actually doing, not your opinion of it.

Don't play all the time.

Sitting out with no edge is a position too.

You'll never know all the answers.

Trade with incomplete information. Waiting for certainty means missing the move.

If you can't sleep at night, reduce your positions or get out.

Size for your own risk tolerance, not maximum exposure.