After Awhile Size Means Nothing. It Gets

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.

I Spend My Day Trying To Make Myself As Happy And Relaxed As I Can Be. If I Have Positions Going Against Me, I Get Right Out; If They Are Going For Me, I Keep Them.

Where You Want To Be Is Always In Control, Never Wishing, Always Trading, And Always First And Foremost Protecting Your Ass. That's Why Most People Lose Money As Individual Investors Or Traders Because They're Not Focusing On Losing Money. They Need To Focus On The Money That They Have At Risk And How Much Capital Is At Risk In Any Single Investment They Have. If Everyone Spent 90 Percent Of Their Time On That, Not 90 Percent Of The Time On Pie-in-the-sky Ideas On How Much Money They're Going To Make, Then They Will Be Incredibly Successful Investors.

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.

Sometimes Failure Is Merely Chasing You Off The Wrong Road And Onto The Right One.