You Learn More From Your

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.

I Am More Scared Now That I Was At Any Point Since I Began Trading, Because I Recognize How Ephemeral Success Can Be In This Business. I Know That To Be Successful, I Have To Be Frightened. My Biggest Hits Have Always Come After I Have Had A Great Period And I Started To Think That I Knew Something.

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.

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?

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?