DeHaemer's 55 Rules of Trading: Part 1

“This is not ‘Nam. This is bowling. There are rules.” “This is not ‘Nam. This is bowling. There are rules.”                                                                                                      [outsider club logo header] Aug 05, 2024 | By Christian DeHamer DeHaemer's 55 Rules of Trading: Part 1 Walter Sobchak was a character from the movie The Big Lebowski played by John Goodman if you’ve seen the movie you know that Walter understood that rules gave a person the guardrails needed to make it through the chaos of life. We all need a moral code, an ethos. A family friend would always tell me, “Hammer, if you cheat at golf then you cheat at life and I won’t do business with you.” It speaks of character. Walter, from the movie, said, “Nihilists! F*ck me. I mean, say what you want about the tenets of National Socialism, Dude; at least it’s an ethos.” And “This is not ‘Nam. This is bowling. There are rules.” Much in the way that Shakespeare produced brilliance when restricted to the 14 lines of a sonnet written in an iambic pentameter so too are traders enhanced by guardrails.  Over twenty years ago I wrote my world-famous 55 Rules of Trading after reading countless books on Wall Street. Here is the first of five parts: Rule #1: The market is always right. Rule #2: Never buy a company run by a medical doctor. Doctors have a confidence that is great on the operating table but lousy in running a company. Buy companies run by salespeople. Rule #3: When investing in Canadian resource companies, assume they are scams unless proven otherwise. Rule #4: When a disaster occurs in an emerging market country, find the company that has sold off the most and trades as an ADR in the U.S. Buy it. Rule #5: It is better psychologically not to make money than to lose it, but you have to take risks. Rule #6: Always leave money on the table. Rule #7: Never apologize for a profit. Rule #8: After you sell a position, take the ticker off your most wanted screen and put it on your sold screen. You made your choice, you don’t need to look at it constantly. Rule #9: If you make a certain type of trade and it works, make it again. Rule #10: Do not hope; act. Rule #11: Don’t take sample opinions on a trade. You’ve done your research — live or die by it. If your research is thorough, no one else will know more about your trade than you do. Rule #12: It is possible to make money going long a horrific company. I’ve successfully played dead cat bounces on Enron, Nortel, and Lucent. Rule #13: Never try to catch a falling knife All the best,Christian DeHaemer[Outsider Club]( P.S. Watch your inbox for the rest of [Hammer's]( Rules! India is still rocking along: [( Hey, MSM finally catches up with the Outsider Club: [( Brit killed it again: [(  This email was sent to {EMAIL}. You can manage your subscription and get our privacy policy [here](. Outsider Club, Copyright © Osprey Financial Research LLC, 5004 Honeygo Center Drive Suite 102-202