Vance’s rules for six figure investing

Big moves usually don’t happen in a day, be patient
Don’t fight the market
Consider not jumping in or out all at once—no matter which way the market goes there will be something good to be said about it (e.g., at least I got half out…)
Regardless of the market trend the chances of an up day tomorrow are always fifty-fifty (post)
Don’t buy at the daily high, at least wait for a retrace
What is the upside opportunity vs the down side risk? Do the math!
Risk always goes up with increasing reward—the market is very efficient in that regard
You have to take a position on market/stock/ volatility direction—that’s the hard part
Don’t try to pick the top, or the bottom—as Joe Kennedy said “Only a fool holds out for the top dollar”
The past does not predict the future—this is basis of technical analysis and it’s a mirage. Charts show psychology, not forces of nature.
The macro moves in the market are best understood as the ebb and flow of fear and greed
Markets will move—that much is certain
Resistance levels and trend lines are real—because others believe in them
Black Swans kill positions that are short volatility (e.g., covered calls)
If you have realized 80% or more of the available profit in a position, close it out. You’ll hate yourself if you let that slip away.

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