The difference between winners and losers isn’t so much native ability as it is discipline exercised in avoiding mistakes.

Speech may be silver but silence is golden. Traders with the golden touch do not talk about their success.

 Have you taken a loss? Forget it quickly. Have you taken a profit? Forget it even quicker! Don’t let ego and greed inhibit clear thinking and hard work.

 Never volunteer advice and never brag of your winnings.

 Standing aside is a position.

 If you don’t know who you are, the markets are an expensive place to find out.
 In the world of money, which is a world shaped by human behavior, nobody has the foggiest notion of what will happen in the future. Mark that word – Nobody! Thus the successful trader does not base moves on what supposedly will happen but reacts instead to what does happen.
 Except in unusual circumstances, get in the habit of taking your profit too soon. Don’t torment yourself if a trade continues winning without you. Chances are it won’t continue long. If it does, console yourself by thinking of all the times when liquidating early reserved gains that you would have otherwise lost.

 When the ship starts to sink, don’t pray – jump!
 Lose your opinion – not your money.