“… if the position starts behaving in a way you don’t understand, you need to cut it because then you clearly don’t know what is going on. The market is telling you that you don’t know.”

– Steve Clark

“A common error traders make is to judge whether a trading decision was right – or wrong – based on the outcome.”

– Tom Claugus

“I’ll keep reducing my trading size as long as I’m losing… My money management techniques are extremely conservative. I never risk anything approaching the total amount of money in my account, let alone my total funds.”

– Randy McKay

“Learn to take losses. The most important thing in making money is not letting your losses get out of hand.”

– Marty Schwartz

“Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.”

– George Soros

“There is no way of knowing a priori which individual trade is likely to be a winner. Traders need to accept that a certain percentage of good trades will lose money. As long as a profitable strategy is implemented according to plan, a trade loss odes not imply a trading mistake.”

– Tom Claugus

“Accept total responsibility for every response and feeling you have. Do not cast them out onto anything or anyone external to you.”

– Deepak Chopra

“If the market does not rally, as it should during bullish seasonal periods, it is a sign that other forces are stronger and than when the seasonal period ends those forces will really have their say.”

– Edson Gould

“Be willing to redefine yourself every day.”

– Deepak Chopra