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 Do not cut profits short and cut losing positions fast. Once people can turn their mindset from a problem focus to a solution focus, they can identify the adaptive things that they are already doing and do more of them. You will not become a better trader by emulating a market guru. You will become a better trader by identifying the occasions when you are already trading well and then modeling your future performance on those. If you are struggling with your trading, thinking of hanging it up, you need to identify your own collage the things you are currently doing that break your problem patterns. The most helpful part of a fearless trading inventory is the firsthand recognition that, even amidst failure, one does indeed harbor the seed of success. Entering a facilitative physical state is one of the quickest ways of placing oneself in a winning frame of mind. Even the solution that seems the smallest can serve as an anchor for life altering change. -Taking breaks from trading Tr...

 Loss is painful, guilt can be devastating. Worse than losing one's dream is the knowledge that the loss was self-inflicted. Problems are solutions that have outlived their usefulness. Problems are pattern that were learned in emotional circumstances during one period of life and that now have taken an existence of their own. Many times, outdated solutions replay themselves in a variety of life situations, leaving people mindlessly repeating their mistakes in work, love, and trading. There can be no free will for people who are locked into patterns developed for past challenges. Successful traders are therapists both learn to do what comes unnaturally. The resolution to problems can be found in what people are doing when those problems are not occurring. The problem with many traders is not that they have problems, but that they are focused on their problems. It is this problem focus that prevents them from appreciating what they are doing right, that blinds them to solutions alrea...

 In our debt to others, we find the true measure of our wealth. How we seek values and manage the associated risk will determine our personal and professional success. You can only learn to master the markets by immersing yourself in the markets. Possessing the right tools is necessary, but not sufficient, for success. Acting counter to one's initial impulses is the winning move. Solutions are the patterns we enact between problems. Successful market participants seek out their weaknesses and learn when they fail. Unsuccessful ones avoid their short comings and, thus, fail to learn. How people deal with losses When a trader loses a good portion of capital on a botched trade, it is not so much the dollars and cents impact that becomes depressing, as it is the loss of hope that one can ever recoup. Depression is nature's way of conserving energy, damping the diversion of resources towards ends deemed unreachable. The difference is that the depressed trader has lost hope as well a...

 The last principle is " Caution " The most dangerous human trait is the lack of caution. People drift into all sorts of hazardous circumstances because they do not exercise caution by planning the moves they make. The drifter always moves without exercising caution. He acts first and thinks later. He does not choose his friends. He drifts along and allows people to attach themselves to him on their own terms. He does not choose an occupation. He drifts through school and is glad to get the first job that will give him food and clothing. He invites people to cheat him at trade by neglecting to inform himself of the rules of trade. He invites illness by neglecting to inform himself of the rules of sound health. He invites poverty by neglecting to protect himself against the environmental influences of the poverty stricken. He invites failure at every step he takes by neglecting to exercise the caution to observe what causes people to fail. He invites fear in all its forms by h...