Where you want to be is always in control, never wishing, always trading, and always, first and foremost protecting your butt. After a while size means nothing. It gets back to whether you’re making 100% rate of return on $10,000 or $100 million dollars. It doesn’t make any difference.

It doesn’t matter. And not just whether it’s above or below 50 percent; it doesn’t matter, period.It’s not whether you’re right or wrong that’s important, it’s how much money you make when you’re right and how much you lose when you’re wrong.

Clarity of mind is paramount if you intend to become a successful trader.we exist in a world fueled by the prospect of financial gain, which in and of itself triggers unwanted emotions.Once you have money at risk, the line between logical and emotional decision making becomes blurred.

There is no single market secret to discover, no single correct way to trade the markets. Those seeking the one true answer to the markets haven’t even gotten as far as asking the right question, let alone getting the right answer.

I often preach about the importance of having saint-like patience as a trader. In this quote, Jesse Livermore – a famous stock trader during the early 1900’s, – takes on the same sentiment with less cordial approach. Being a (successful) trader isn’t about putting on trades, it’s about not trading at all.

I’ve listed this quote from Joe Vidich first for a reason. The number one reason 90% of traders fail, in my opinion, is because they get emotionally compromised.Limit your size in any position so that fear does not become the prevailing instinct guiding your judgment.