Unwritten Rules of the Stock Market

Just because something has gone up, does not mean it can't go higher.
Just because something has gone down, does not mean it can't go lower.
Stock trading in single/double digits does not make it cheap.
Patience is the most important quality one can have as an investor.
The second most important quality is knowing one's own psychology.
The third most important quality an investor can have is conviction.
Tips won't work for you.
You can borrow ideas, but you can't borrow conviction.
You will not make money on a stock that is not growing its earnings.
Cash flow is the most important. Profits without cash flow are meaningless.
Averaging up > averaging down.
No one on this planet can guess the movement of the stock market. And certainly not the guy charging you money for it.
The stock market is the closest thing humans can achieve to a Hive mind. Some elements are more powerful than others, but even they can't control all of it.
The most important factor in a stock price is the earnings and their perception. The more consistent, predictable, and risk-free they are, the more market will reward it.
The market hates uncertainty.
Use leverage in the market with extreme caution.
PE ratio in isolation is a meaningless metric to use.
Look at the supply-side rather than the demand-side when analyzing a company.
Companies with moats will always command higher valuations.
Stay away from companies with corporate governance issues.
Even great stocks can go down 70-80 %.
Avoid companies with high debt, a couple of bad quarters can cause serious trouble.
ROCE, ROE, and ROIC of a company usually increase with a companies performance.
Capex is a great trigger for earnings and growth.
There's no such thing as guaranteed returns in the market. Stay away from people making those promises.
The goal of mutual fund employees is to keep their job secure, not to make you money.
Even the best system will have long periods of drawdown. Conviction is key
The study is important. No one becomes wealthy from tips (except the person giving them).
Never fight the market. It can stay irrational longer than you can stay solvent.
You have biases like everyone else. Know what they are so they don't impede in investing.
Plan the trade, and then trade the plan.
Warren Buffet quotes are oversimplified platitudes. You want to learn from the man, study everything about him.
Find out what your circle of competence is, and stick to it.
Avoid hot sectors/stocks.
90-95% of turnaround stories fail.
If the auditor/CEO/CFO of a company resigns suddenly, it's best to stay away for the time being.
Nothing will erode wealth faster than corporate governance issues.
You can learn a lot about the company from its credit report.
Sell your losers, and keep your winners. Not the other way around.
Don't catch falling knives.
Averaging up your winner stocks.
Keep track of the business, not stock price.
Volatility in the market is certain. Use it to your advantage.
Time in the market > timing the market.
Twitter can be a great resource for learning.
Always date, never marry a stock.
A stock doesn't know you entered it, or you have exited and It doesn't care.
The stock market is not gambling, your approach is.
Capital Allocation is important for real gains.
Never sell your winners only because they have gone up a lot.
Ignore news and stock channels. 95 % is pure noise that will weaken your conviction.
Pay attention to promoter buybacks. They know more than you.
Read old con-calls and annual reports to get an idea about how many promises promoters were able to keep.
Be open to changing your mind when presented with evidence that you are wrong.
Be prepared to go years without returns. The market isn't linear.