Fast Money

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Fast Money

Rules to Remember

Instead of stock picks, the guys are leaving with final thoughts on the rules they never break, and rules that they find hardest to follow.

The hardest thing for Jeff is to remember to learn to admit you’re wrong. Sometimes it’s best to just cut your losses, he says.

Tim says he never runs in and buys intraday puts and calls on breaking news. If you do this, you’re late and you’re going to lose.

Guy says don’t ever trade angry or out of boredom.

And Eric agrees with Jeff that it’s important to remember to know when to admit you’re wrong. But, he adds, don’t ever buy an ethanol stock.

Questions? Comments?

Trader disclosure:
On APR 6, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders:
Bolling Owns (DIS), Gold, Silver
Strazzini Owns (VZ), (YHOO)