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.

A losing trader can do little to transform himself into a winning trader. A losing trader is not going to want to transform himself. That's the kind of thing winning traders do.

Longevity is the key to success.

Working to anticipate the future can be a distraction from the important task of dealing with the present.

Trends become more apparent as you step further away from the chart.

The markets are the same now as they were five or ten years ago because they keep changing-just like they did then

If you can't take a small loss, sooner or later you will take the mother of all losses.