First if all, never play macho man in the market. Second, never overtrade. My major problem was not the number of points I lost on the trade, but that I was trading far too many contracts relative to the equity in the accounts that I handled.

As I've told my three daughters, all of whom I've at one time encouraged to go into macro trading, any man or woman can do anything to which they set their heart and mind.

You adapt, evolve, compete or die.

After awhile size means nothing. It gets back to whether you're making 100% rate of return on 10k or 100 million dollars. It doesn't make any difference.

If I have positions going against me, I get right out; if they are going for me, I keep them Risk control is the most important thing in trading. If you have a losing position that is making you uncomfortable, the solution is very simple: Get out, because you can always get back in.

You can not have significance in this life if it is all about you. You get your significance, you find your joy in life through service and sacrifice - it's pure and simple.

The concept of paying one-hundred-and-something times earnings for any company for me is just anathema. Having said that, at the end of the day, your job is to buy what goes up and to sell what goes down so really who gives a damn about PE's?