Dravas's rules - he learnt them the hard way !

So, finally after two weeks of breaking my head over design issues , I finally had some more time to dedicate to my latest hobby, i.e., trading. Just started reading the book by Nicholas Dravas - How I Made $2,000,000 in the Stock Market.

Here's a set of rules he learnt the hard way after loosing a fair bit of his equity in the market:

"

1. I should not follow advisory services. They are not infallible, either in Canada or on Wall Street.
2. I should be cautious with brokers' advice. They can be wrong.
3. I should ignore Wall Street sayings, no matter how ancient and revered.
4. I should not trade "over the counter"—only in listed stocks where there is always a buyer when I want to sell.
5. I should not listen to rumors, no matter how well founded they may appear.
6. The fundamental approach worked better for me than gambling. I should study it. 
7. I should rather hold on to one rising stock for a longer period than juggle with a dozen stocks for a short period at a time.

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