Dennis Gartman has been involved in the stock market for over three decades. He has also traded the foreign exchange and money market instruments. He is very familiar with trading Treasury bonds, Treasury notes and futures contracts.
To say Dennis Gartman is an experienced trader would be a gross understatement. For a man who has traded for so long, and has gained a wealth of experience; he has some basic trading rules and tips which have helped him in his trading journey.
Never add to a losing position. It is usually hard to admit when a trade goes wrong, but this happens quite a lot. And there is a tendency to add to that losing trade in the hopes that the market trend will reverse, Gartman advises against this. A better option is to close out the position and re-group, or let the trade close on its own without investing more in a bad trading decision.
Trade like a mercenary guerrilla; this means been sensitive to the general trading climate, and be ready to change strategy as the trading climate changes.
For example, if we were long on the EURUSD, and we start to notice unfavorable news releases which could have a negative impact on the EUR, and cause a decl…