If the losses don't hurt, your financial survival is tenuous..

Don't think about what the market's going to do; you have absolutely no control over that. Think about what you're going to do if it gets there..

It's much easier to learn what you should do in trading than to do it. Good systems tend to violate normal human tendencies..

In many ways, large profits are even more insidious than large losses in terms of emotional destabilization. I think it's important not to be emotion….

Amateurs go broke taking large losses, professionals go broke taking small profits..

One common adage...that is completely wrongheaded is: You can't go broke taking profits. That's precisely how many traders do go broke. While amateur….

Don't think about what the market's going to do; you have absolutely no control over that. Think about what you're going to do if it gets there. In p….

I take the point of view that missing an important trade is a much more serious error than making a bad trade..

I know of a few multimillionaires who started trading with inherited wealth. In each case, they lost it all because they didn't feel the pain when th….

The desire to maximize the number of winning trades (or minimize the number of losing trades) works against the trader. The success rate of trades is….

I haven't seen much correlation between good trading and intelligence. Some outstanding traders are quite intelligent, but a few aren't. Many outstan….

The market likes to lull you into the false security of high success rate techniques, which often lose disastrously in the long run. The general idea….

Investing is a negative game emotionally. If you're playing for the emotional satisfaction, you're bound to lose, because what feels good is often th….

The people who survive avoid snowball scenarios in which bad trades cause them to become emotionally destabilized and make more bad trades. They are ….

People want to buy cheap and sell dear; this by itself makes them countertrend. But the notion of cheapness or dearness must be anchored to something….

If a betting game among a certain number of participants I played long enough, eventually one player will have all the money. If there is any skill i….

Large profits are even more insidious than large losses in terms of emotional destabilization. I think it's important not to be emotionally attached ….

You can be very promiscuous in your research, but not in your trading..

Good systems tend to violate normal human tendencies..

What feels good is often the wrong thing to do..