Important Pirate Principles:

1. It is easier to make up lost opportunities than lost money. Don't be in a rush.
2. Maintain you time frame. Don't jump in and out like a day trader. The natural tendency is to push time frames lower and lower. Higher time frames (like Swing and Position Trading) capture more of the total move.
3. Do not become attached to any stock. This is a short term relationship -keep it that way.
4. Do not enter a trade without an exit criteria.
5. Always follow your exit criteria.
6. Trade the market you've got, not the market you want.
7. Trade what you see, not your opinions. Fade every opinion, but follow the market.
8. Don't be too negative. The really smart guys are always ready with very well reasoned negative opinions. The market is ruled by supply and demand, not logic and reason.
9. Markets can be overbought for really long periods of time. Don't get sucked into the overbought camp just because the market is too overbought.
10. Excesses in one direction will lead to an opposite excess in the other direction.
11. There are no new eras -- excesses are never permanent.
12. Exponential rising and falling markets usually go further than you think.
13. When all the experts and forecasts agree, something else is going to happen.

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1. No prey, no pay. When you do trade, trade with the mind of a predator: skill, cunning, and discipline are the traits of a successful predator.
2. He that is guilty of cowardice shall suffer punishment. Fear is not a predator emotion and will result in financial loss. If you lose your confidence, go back to paper trading until you can trade with discipline, not fear. You need to be cool and fearless. You may suffer several losing trades in a row, even if you are a great trader.
3. The trade that falls behind is left behind. Never enter a trade without an exit criterion. Never add to a losing trade. Always follow your exit criteria.
4. Don't board a ship going in the opposite direction. Don't ever buy a stock that is going down or short a stock that is going up.
5. He that sees a Sail first, shall have the best pistol aboard of her. Spotting a trade early is important to your success. Avoid going into a trade after much of the profit is already behind it. Wait for a pull-back if you didn't catch the breakout.
6. Each pirate is to keep his pistol and cutlass clean and fit for service. Don't trade with cheap computers, a poor Internet connection, or sleazy trading software.

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          90% down days** are good buying days, if only for a Flyer.
          90% up days** at the end of a bullish run are good selling days.
          90% up days** at the end of a bearish run are good buying days, if only for a Flyer.

     **90% of the Advance/Decline line of the New York Stock Exchange. If 1440 stocks are up and 160 stocks are down then that
          is a 90% up day.