Portfolio rules

In my opinion, discipline is imperative to successful portfolio management. Here are the rules I use to manage my portfolio:

1. 12-15 positions
2. Full-size positions are as large as 15% of the portfolio
3. Only starters can be allocated overweight size (+15%)
4. Speculative holdings cannot be full-size positions
5. Starters do not get traded and are not trimmed below 50% gains unless they are overweight
6. Bench positions can become starters
7. Bench positions get trimmed between 20 and 50% gains
8. Specs get trimmed between 50 and 100% gains
9. All positions get halved when 100% gains have been realized and remaining shares ride
10. Stops are -7 to -10%