Michael Jordan didn’t become a great basketball player because he wanted to do product endorsements. Van Gogh didn’t become a great painter because he dreamed that one day his paintings would sell for $50 million.

Good traders liquidate when they are wrong, great traders reverse when they are wrong

If you don’t stay with your winners, you are not going to be able to pay for the losers.

You don't have to get in or out of a position all at once. Avoid the temptation of wanting to be completely right.

Being wrong is acceptable, but staying wrong is totally unacceptable.

Michael Jordan didn’t become a great basketball player because he wanted to do product endorsements. Van Gogh didn’t become a great painter because he dreamed that one day his paintings would sell for $50 million.

Traders focus almost entirely on where to enter a trade. In reality, the entry size is often more important than the entry price