Mr. Gartman has been directly involved in the capital markets since August of 1974.He was an economist for Cotton, Inc. in the early 1970′s.
Rule#1: Never add to a losing position.Rule#2: Fight on the winning side while being ready to switch sides.
Rule #3: Mental capital is more at stake than monetary capital while trading.Rule #4: Focus on buying high & selling higher.
Rule#5: In bull markets be long/neutral, and short/neutral in bear markets.Rule#6: Irrationality & inefficiency are unavoidable factors in a market.
Rule#7: Sell those with the greatest weakness, and buy those with the greatest strength.
Rule#8: Violent new action is indicated by gaps, try to trade the first day of a gap.
Rule#9: Go large and aggressively in good trading & small and modestly in poor trading
Rule#10: Trade with a combination of the market's technical & trading fundamentals.
Rule#11: Respect "outside", "weekly" & "monthly" reversals
Rule#12: Keep your technical systems simple.