Stuart Walton's trading rules

Stuart Walton provides a very interesting interview in Stock market wizards -- unlike most other traders Schwager interviews, this guy had "no burning desire to be a trader, no special analytical or mathematical skills, and was prone to emotional trading decisions that caused him to lose all or nearly all his money on several occasions."

He kept these rules posted on his computer to remind him constantly before making any trades. I really like and agree with all of these so I'm reposting them here:

• Be patient--wait for the opportunity.
• Trade on your own ideas and style.
• Never trade impulsively, especially on other people's advice.
• Don't risk too much on one event or company.
• Stay focused, especially when the markets are moving.
• Anticipate, don't react.
• Listen to the market, not outside opinions.
• Think trades through, including profit/loss exit points, before you put them on.
• If you are unsure about a position, just get out.
• Force yourself to trade against the consensus.
• Trade pattern recognition.
• Look past tomorrow; develop a six-month and one-year outlook.
• Prices move before fundamentals.
• It is a warning flag if the market is not responding to data correctly.
• Be totally flexible; be able to admit when you are wrong.
• You will be wrong often; recognize winners and losers fast.
• Start each day from last night's close, not your original cost.
• Adding to losers is easy but usually wrong.
• Force yourself to buy on extreme weakness and sell on extreme strength.
• Get rid of all distractions.
• Remain confident--the opportunities never stop.