3. Let your profits run. Make sure you don’t get out of profitable positions too early. Use a trailing stop on the way up and move it up as the stock price goes higher.
6. Always let the price force your action. Always buy or sell based on the price breaking your stop. Don’t buy or sell just because the chart pattern or indicators have given a signal.
7. At the start and end of a trend the majority of the public are wrong. At times of frenzied buying or panic selling, it is often a good idea to be doing the opposite of the masses. The crowd is normally right with the trend, but wrong at key turning points.