When you are getting beat to death, get your head out of the mixer.

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.

Trading has taught me not to take the conventional wisdom for granted. What money I made in trading is testimony to the fact that the majority is wrong a lot of the time. The vast majority is wrong even more of the time. I've learned that markets, which are often just mad crowds, are often irrational; when emotionally overwrought, they're almost always wrong.

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.

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.

When things aren't going right, don't push, don't press.