I dont care how smart you are, but if you violate these rules, you’re dead.

The Basic Rules:
1.) You must limit your losses. Period.
People who should have never blown out have left the game because they violated their stops.
2.) Let Your Profits Run
There’s only one way for profits to go up.  That is time.  We need time in our trades.  Those who go in and out are destined to failure.  The question is just sooner or later.
3.) You must never plunge.  Ever.
You can overtrade by trading too many contracts, or trading too frequently.
You’ll need to have money management or you’ll blow up.We all read Jesse Livermore’s book, we want to plunge.  When you have that “THE trade” – that’s the loser.  The trade that is most comfortable, is the one that doesn’t work.You’re chasing disasters, and you’re disguising them as chasing winners.