MURPHY’S LAWS
FOR
COMMODITY TRADERS
1. It is morally wrong to allow a sucker
to keep his money
2. Everyone has a trading strategy that
won’t work
3. For every expert who says prices are
going up, there is one who says they are going down
4. If you can drink it, don’t trade it
5. The market is not logical; it is psychological
6. The successful speculator is one who
dies before his time comes
7. If you drop a dead cat far enough,
it will bounce
8. The market goes your way the day after
your stop was hit
ITS COROLLARY
9. The big move begins the day after your
option expires
10. He who sells uncovered options goes
broke
11. If you feel like doubling up a profitable
position, slam your dialing finger in the drawer until the feeling
goes away
12. The perfect strategy works every time
until you start using it
13. If your strategy seems to be working
well, you haven’t been using it long enough
14. The guy who owns the horse when it
dies is the loser
15. When it comes to luck or skill, you
can’t beat luck
16. Pigs won’t eat $5 corn or $500 meal
17. When the plate of cookies goes around
the table, don’t forget to take a couple
18. When the market is wrong, it doesn’t
pay to be right
19. He who sells what isn’t his’n, pays
the price or goes to prison
20. Be right; sit tight
21. The best way to make a small fortune
is to start with a large one
22. He who knows doesn’t tell, he who
tells doesn’t know
23. When you’re hot you’re hot, when you’re
not, take a vacation
24. The market knows more than the sum
total of everyone in it
25. What everyone knows ain’t worth knowing
26. The market will do whatever is necessary
to fool the majority
27. Fundamentals are seldom what they
appear to be
28. If you always do what you’ve always
done, you’ll always get what you’ve always got
29. The first five letters of “broker”
spell “broke”
30. The market punishes those who make
mistakes
Compiled from years of experience by Roy
L. Smith, 12200 24thSt., Plattsmouth, NE 68048-7802 402-298-8570, fax 402-298-7465,
e-mail soyroy@alltel.net, html
www.soyroy.com
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