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.

Pyramiding instructions appear on dollar bills. Add smaller and smaller amounts on the way up. Keep your eye open at the top.

Trying to trade during a losing streak is emotionally devastating. Trying to play 'catch up' is lethal.

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

Fundamentals that you read about are typically useless as the market has already discounted the price, and I call them “funny-mentals”. However, if you catch on early, before others believe, you might have valuable “surprise-a-mentals”.

Losing a position is aggravating, whereas losing your nerve is devastating.

Systems don't need to be changed. The trick is for a trader to develop a system with which he is compatible.