This is a serious thread

The idea is simple. Post a statement related to trading and the next person has to answer True or False. The statement has to be directed at that person (even though you don't know who it will be).

I'll start.

The most important key level for a daytrader is Yesterday Settlement as price will always try to gravitate around it.

(next person says True or False, then posts their own statement related to trading)

Trend

True.

Trading intraday breakouts has become more difficult due to the impact of computerized trading.

True

Stops should always be based on what's left of price, not based on anything fixed such as price, ie 10 tick stop for every trade.

False.

You need to differentiate between the money management stop and the market stop. Without exception follow the rule | entry price - market stop | < | entry price - money management stop | . Select market stop first, then use position sizing to adapt money management stop to your maximum risk allowance. If the rule cannot be applied, select position size = 0.

Never add to a losing position.

Quoting 

Never add to a losing position

False

First rule of trading is you can break any rule to survive.

trendisyourfriend 

False First rule of trading is you can break any rule to survive.

You did not make a statement, or is this the new statement? Then it is false. Because it is also a rule. For further development see Kurt Gödel's journey to discover the paradox.

New statement:

You can trade without understanding mathematical concepts such as expectancy or winning percentage, but you cannot trade without mastering psychology.

Fat Tails 

You did not make a statement, or is this the new statement? Then it is false. Because it is also a rule. For further development see Kurt Gödel's journey to discover the paradox. New statement: You can trade without understanding mathematical concepts such as expectancy or winning percentage, but you cannot trade without mastering psychology.

True for a discretionary trader, False for a bot.

statement about money management : pyramiding up is THE strategy to extract more ticks/pips or grow your capital while keeping the risk at a minimum.