The truth is that once you get down on the trading floor, you find that the traders come from all walks of life. You don't have to be a rocket scientist to be a trader. In fact, some of the best traders whom I knew down on the floor were surf bums. Formal education didn't really seem to have much to do with a person's skill as a trader.

Writing down your trades is the best exercise in the world.

If you ever find yourself tempted to seek out someone else's opinion on a trade, that's usually a sure sign that you should get out of your position.

I believe my most important skill is an ability to perceive patterns in the market. I think this aptitude for pattern recognition is probably related to my heavy involvement with music.

The good traders are the ones who can hold their ground the majority of the month and participate in that small handful of trades that are windfalls. The real skill is in not LOSING money!

Speech may be silver but silence is golden. Traders with the golden touch do not talk about their success.

There are too many unpredictable things that can happen within two months. To me, the ideal trade lasts ten days, but I approach every trade as if I'm only going to hold it two or three days.