The things I learned reading MArket Wizards:1.Stop losses 2.Be prepared to take losses but learn from your mistakes 3.Limit your exposure in any one trade (2% rule) 4.Follow the trend and do not try and predict the limit of the trend 5.Be patient. Do not trade for the sake of trading 6.Let your winners run 7.Discount news, tips, rumours and other noise 8.Do not average down 9.Keep emotions under control 10.Always assume the price is right 11.Be disciplined, but flexible 12.Have an exit point before entering a trade 13.Keep a log of your trades 14.Have a methodology and do some backtesting on it Please feel free to expand, disagree, criticize.