“Never, ever argue with your trading system.” - Michael Covel 

“Novice Traders trade 5 to 10 times too big. They are taking 5 to 10 percent risk, on a trade they should be taking 1 to 2 percent risk on.” - Bruce Kovner

“The decision to invest in an asset class must be rational, not emotional.” – Naved Abdali

“If most traders would learn to sit on their hands 50 percent of the time, they would make a lot more money.” - Bill Lipschutz

“There is a time to go long, a time to go short, and a time to go fishing.” - Jesse Livermore

“One emotionally-driven investment that causes massive losses is enough to keep you away from all investments for life.” – Naved Abdali

“Money is made by sitting, not trading.” - Jesse Livermore

“If you can learn to create a state of mind that is not affected by the market’s behavior, the struggle will cease to exist.” - Mark Douglas

“We want to perceive ourselves as winners, but successful traders are always focusing on their losses.” - Peter Borish

“Sheer will and determination is no substitute for something that actually works.” - Jason Klatt

“In trading, the impossible happens about twice a year.” - Henri M. Simoes

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

“Losses are necessary, as long as they are associated with a technique to help you learn from them.” - David Sikhosana

“Trading is very competitive and you have to be able to handle getting your butt kicked.” - Paul Tudor Jones

“If you personalize losses, you can't trade.” - Bruce Kovner