My experience with novice traders is that they trade three to five times too big. They are taking 5 to 10 percent risks on a trade when they should be taking 1 to 2 percent risks. The emotional burden of trading is substantial; on any given day, I could lose millions of dollars. If you personalize these losses, you canโt trade.
Bruce KovnerFundamentalists who say they are not going to pay any attention to the charts are like a doctor who says he's not going to take a patient's temperature.
Bruce Kovner