Risk no more that you can afford to lose, and also risk enough so that a win is meaningful.

I turn bullish at the instant my buy stop is hit, and stay bullish until my sell stop is hit.

There are old traders and there are bold traders, but there are very few old, bold traders.

Psychology motivates the quality of analysis and puts it to use. Psychology is the driver and analysis is the road map.

The trading rules I live by are: 1. Cut losses. 2. Ride winners. 3. Keep bets small. 4. Follow the rules without question. 5. Know when to break the rules.

Traders and Surfers both have to deal with feelings of missing out on the small ones, until the big one comes along. They also have to deal with feelings of staying with the big one.

A lot of people would rather understand the market than make money