Gann's 24 Never Failing Rules

1. Divide your capital into ten equal parts, never risks more than 10% of your capital on any one trade.
   
2. Use stop loss orders. Always protect your trade with a stop loss order of 3 to 5 points away.
   
3. Never overtrade - that would be violating the first rule.
   
4. Never let a profit run into a loss. Raise your stop loss orders.
   
5. Do not buck the trend. Never buy or sell if you are not sure of the trend.
   
6. When in doubt get out.
   
7. Trade only in active stocks. Keep out of slow dead ones.
   
8. Equal distribution of risk. Avoid tying up all your capital in one stock.
   
9. Never limit your orders or fix a buying or selling price.
   
10. Don't close your trades without good reason.
    
11. Accumulate a surplus.
    
12. Never buy just to get a dividend.
    
13. Never average a loss.
    
14. Never get out of the market just because you have lost patience, or get into the market because you are anxious from waiting.
    
15. Avoid taking small profits and big losses.
    
16. Never cancel a stop loss after you have placed it.
    
17. Avoid getting in and out of the market too often.
    
18. Be just as willing to sell short as you are to buy.
    
19. Never buy just because the price is too low or sell short just because the price is high.
    
20. Be careful about pyramiding at the wrong time. Pyramid in reducing quantity.
    
21. Select stock with small volume of shares outstanding to pyramid on the buying side and stocks with the largest number of shares outstanding to sell short.
    
22. Never hedge. If you are long on one stock and it starts to go down, do not sell another stock to hedge it.
    
23. Never change your position in the market without a good reason.
    
24. Avoid increasing your trading after a long period of success.