The biggest secret about success is that there isn't any big secret about it, or if there is, then it's a secret from me, too. The idea of searching for some secret for trading success misses the point.

To avoid whipsaw losses, stop trading.

If you want to know everything about the market, go to the beach. Push and pull your hands with the waves. Some are bigger waves, some are smaller. But if you try to push the wave out when it's coming in, it'll never happen. The market is always right.

Good traders trade. Good letter writers write letters.

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.

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

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