Luck plays an enormous role in trading success. Some people were lucky enough to be born smart, while others were even smarter and got born lucky.

The trading rules I live by are: 1. Cut losses. 2. Ride winners. 3. Keep bets small. 4. Follow the rules without question. 5. Know when to break the rules.

If you can't take a small loss, sooner or later you will take the mother of all losses.

My style is basically trend following, with some special pattern recognition and money management algorithms.

Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.

Traders and Surfers both have to deal with feelings of missing out on the small ones, until the big one comes along. They also have to deal with feelings of staying with the big one.

A lot of people would rather understand the market than make money

It can be very expensive to try to convince the markets you are right.

The key to long-term survival and prosperity has a lot to do with the money management techniques incorporated into the technical system.

The markets are the same now as they were five or ten years ago because they keep changing-just like they did then

The elements of good trading are: 1, cutting losses. 2, cutting losses. And 3, cutting losses. If you can follow these three rules, you may have a chance.

Alone, we are great, but together, we are better.

I hope you find someone who knows how to love you when you are sad.

I'd just turned 50, weighed 285, and my doctor had read me the riot act about my health.

Circles in water as they wider flow The less conspicuous in their progress grow, And when at last they trench upon the shore, Distinction ceases and they're view'd no more.

I try to use whatever I know about photography to be of service to the people I'm photographing.

There are very complicated issues here [about NATO], and I don't want to give them short shrift.

The hardest thing to see is what is in front of your eyes.

I did my undergraduate work at the University of California when it was still affordable. But tuition keeps on rising.

Most innovation comes from outside your industry applied to your own

When I was a child I liked the games of Capablanca, and later I was captivated by Alekhine's play.