When you have a position, you put it on for a reason, and you've got to keep it until the reason no longer exists.

Trade small because thats when you are as bad as you are ever going to be. Learn from your mistakes.

I always say you could publish rules in a newspaper and no one would follow them. The key is consistency and discipline.

You should always have a worst case point. The only choice should be to get out quicker.

The market being in a trend is the main thing that eventually gets us in a trade. That is a pretty simple idea. Being consistent and making sure you do that all the time is probably more important than the particular characteristics you use to define the trend. Whatever method you use to enter trades, the most critical thing is that if there is a major trend, your approach should assure that you get in that trend.

A good trend following system will keep you in the market until there is evidence that the trend has changed.

I learned to avoid trying to catch up or double up to recoup losses. I also learned that a certain amount of loss will affect your judgment, so you have to put some time between that loss and the next trade.