Seeing an opportunity and acting upon it are two different things.
•  Price has memory. Odds are what price did the last time it hit a certain level will be repeated  . . .
•  Pay attention to price action, regardless of what the charts are saying.
•  Look for a reversal at the same place you’re expecting a breakout or breakdown.
•  Price action sets up against the majority; the best profits are often in the opposite direction of the way you’re planning to go.
• Add to your winners and cut your losers. ’nuff said.
•  Opportunities come along all of the time. Wait for the best ones.
•  Don’t overly anticipate or see things that aren’t there. Wait for your signals.
•  The day isn’t over until the closing bell ring. The way it ends may be vastly different from how it begins.
•  Your first job isn’t to make money. It’s to protect capital.
•  Don’t rush to buy the lowest price or sell the highest price; It could get much lower or much higher before turning around.
•  Most profits come during a few days each month. Play a waiting game the rest of the time.
•  Traders lose the most money on the same days the market offers the greatest profits.
•  Place yourself ahead of, behind or opposite other traders. The one place you don’t want to be is in the middle of the crowd.
•  Read the charts with one eye on where the whales will act. These are the pivot points where the broad market will rally or sell off.
•  Traders tend to be early rather than late into positions. Their fear of missing the move overwhelms their fear of being wrong.
•  You lose money when you trade what you believe instead of what you see.
•  Trade triggers, not patterns. The trigger is a perfect alignment of price and time.
•  A nervous stomach gets in the way of short sales. Short-sellers see bull markets in every bounce and give up good trades to avoid getting trampled.
•  Tiny pieces of the market puzzle reveal the big picture. Keep a diary of isolated observations because they pay off in time.
•  Throw money at the market after an extended break. The action gets you in synch faster than sitting around and trying to figure out what you missed.
•  The crowd gets excited about the long side when it’s time to sell short, and excited about the short side when it’s time to go long.
•  Price moves along the path of least resistance.
•  It’s a lot harder to follow your rules when things get really crazy.
•  Whales portray themselves as smart money, but they are as confused as everyone else.