Professional Traders actually do pretty much the exact opposite of each of those - ask me how i know.
I don't know WHERE these came from, but I'll comment:
JACK'S RULES OF TRADING 1. Never chase a stock that's already run up considerably. 2. Never panic sell. In other words: When in doubt, hold. 3. When the stock price is down but the company still has potential, add.
Here's how many successful professionals trade:
1. Breakouts work. Adding to winners works.The whole idea is to GET ON uptrenders, and add to them if they continue.
2. When in doubt - GET OUT!Trading 101.
3. "Losers add to losers" - Paul Tudor Jones.If you're wrong, you're wrong - no big deal, accept it and move on.
Just another perspective - hope it adds value to anyone struggling w/ basic trading.