I always say that you could publish trading rules in the newspaper and no one would follow them. The key is consistency and discipline. Almost anybody can make up a list of rules that are 80 percent as good as what we taught people. What they couldn’t do is give them the confidence to stick to those rules even when things are going bad.

Trading decisions should be made as unemotionally as possible.

I could trade without knowing the name of the market.

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

You have to minimize your losses and try to preserve capital for those very few instances where you can make a lot in a very short period of time. What you can't afford to do is throw away your capital on suboptimal trades.

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

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