It can be very expensive to try to convince the markets you are right.

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

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

I don’t predict a nonexisting future.

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.

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

Dramatic and emotional trading experiences tend to be negative. Pride is a great banana peel, as are hope, fear, and greed. My biggest slip-ups occurred shortly after I got emotionally involved with positions.