Legendary Trader, Amos Hostetter

Amos Hostetter: Trading Dont’s

Don’t sacrifice your position for fluctuations.
Don’t expect the market to end in a blaze of glory. Look out for warnings.
Don’t expect the tape to be a lecturer. It’s enough to see that something is wrong.
Never try to sell at the top. It isn’t wise. Sell after a reaction if there is no rally.
Don’t imagine that a market that has once sold at 150 must be cheap at 130.
Don’t buck the market trend.
Don’t look for the breaks. Look out for warnings.
Don’t try to make an average from a losing game.
Never keep goods that show a loss, and sell those that show a profit. Get out with the least loss, and sit tight for greater profits.

Amos Hostetter: Dangers in Trading caused by Human Nature

Fear: fearful of profit and one acts too soon.
Hope: hope for a change in the forces against one.
Lack of confidence in ones own judgment.
Never cease to do your own thinking.
A man must not swear eternal allegiance to either the bear or bull side.
The individual fails to stick to facts!
People believe what it pleases them to believe.

https://www.turtletrader.com/trader-hostetter/