• Don’t speculate unless you can make it a full-time job.
• Beware of barbers, beauticians, waiters- of anyone- bringing gifts of “inside” information or “tips”.
• Before you buy a security, find out everything you can about the company, its management and competitors, its earnings and possibilities for growth.
• Don’t try to buy at the bottom and sell at the top. This can’t be done — except by liars.
• Learn how to take your losses quickly and cleanly. Don’t expect to be right all the time. If you have made a mistake, cut your losses as quickly as possible.
• Don’t buy too many different securities. Better have only a few investments which can be watched.
• Make a periodic reappraisal of all your investments to see whether changing developments have altered their prospects.
• Study your tax position to know when you can sell to greatest advantage.
• Always keep a good part of your capital in a cash reserve. Never invest all your funds.
• Don’t try to be a jack of all investments. Stick to the field you know best.

I hope the above rules could be helpful for the ones of you that are still lacking discipline in trading. I still find them extremely relevant and believe that they are a great piece of trading/investment wisdom.