“I strongly suspect that even the most successful traders have a constructive side and a destructive side–a self that is capable of mastering the markets and a self that is capable of implosion. The traders who are ultimately successful have found ways of continuously accessing the mastery they possess. The ones who fail may be every bit as knowledgeable and experienced, but they remain locked in states that undermine their goals. Overcoming problem patterns is only half the game. The equal challenge is to cultivate successful patterns that can be invoked at will. This is only possible to those who have developed a high degree of intentionality–the capacity to sustain significant effort and purpose.”

– Brett Steenbarger

“… that trade taught me a very valuable lesson: Price is irrelevant; it is size that kills you.”

– Steve Clark

“Real power and authority is not power and authority over others, but over the self.”

– bkwsu.org

“The only function of economic forecasting is to make astrology look respectable.”

– John Kenneth Galbraith

“What is the most common mistake of investors? It is believing that things that worked in the past will continue to work and leveraging up to bet on it.”

– Ray Dalio

“You have to train yourself to trade at a smaller size so that you can trade within your emotional capacity… It is the size of the position that you put on rather than the price at which you put it on that determines your ability to keep the position.”

– Steve Clark

“You learn so much more from the bad experiences in our life than the good ones. Make sure you take time to reflect on them. If you don’t, a precious opportunity will have gone to waste. Remember that pain plus reflection equals progress.”

– Ray Dalio

“Really good traders are also capable of changing their mind in an instant. They can be dogmatic in their opinion and then immediately change it.”

– Steve Clark

“Market makers know that the market is always right. You are wrong if you are losing money for any reason at all. Market makers have that drilled into their head. They know that value is irrelevant in times of market stress; it’s all about positions. They understand that markets will trade against positions. They get it. It is built into their books.”

– Michael Platt