Don't be a hero. Don't have an ego.

I believe that great success is possible in any field — from music to mathematics to macro trading.

I'm always thinking about losing money as opposed to making money. Don't focus on making money, focus on protecting what you have

Sometimes failure is merely chasing you off the wrong road and onto the right one.

That cotton trade was almost the deal breaker for me. It was at that point that I said, “Mr. Stupid, why risk everything on one trade? Why not make your life a pursuit of happiness rather than pain?

There is no training, classroom or otherwise, that can prepare for trading the last third of a move, whether it's the end of a bull market or the end of a bear market.

Intellectual capital will always trump financial capital.