除非有充分的理由，不要改变你在市场里的头寸。每做一手交易时，你都要有可以依据的理由或者明确的计划；此后，除非有明确的趋势改变的迹象，不要退出。
19. Losses make the speculator studious--not profits. Take advantage of every loss to improve your knowledge of market action.
赔钱不能赢利，但能使投机者细心钻研。抓住每一次赔钱的机会，改进你对市场行为的了解。
36. The real difference between winners and losers is not so much native ability as it is discipline exercised in avoiding mistakes.
成功者和失败者之间的真正区别，与其说是天生的能力，还不如说是在避免错误中表现的有素的训练。
37. The greatest risk for a commodity trader is to rely on hope alone. Never substitute hope for facts. The greatest loss is loss of self－confidence.
期货交易商的最大的错误就是把一切都寄托在希望上。永远不要用希望来取代事实。自信心的失落是最大的亏损。
38. You cannot perform very well for very long with your shoes nailed to the floor. In trading as in fencing there are the quick and the dead.
你不可能在原地不动而持久地表现出色。交易就像击剑，不是快速运动，就是身败剑下。
39. Remember Mark Twain: "only 10% of the people think. 10% think they think. The other 80% would rather die than think."
记住马克·土温说的："只有百分之十的人思考，百分之十的人认为他们思考，其余百分之八十的人宁死也不愿思考。"
40. The man who goes to the top as a commodity trader does not do as he pleases. He has trained himself to choose correctly between the two freedoms: the freedom to do as he pleases, and the freedom to do what he must do.
期货交易高手做事不是随心所欲。他把自己训练得知道怎样在两种自由中作正确的选择：随心所欲的自由和非做不可的自由。41. Since there is always the possibility of surprise in thin, dead markets, less capital should be risked there than in markets which are broad and moving.
因为在窄小的、停滞的市场里总有出乎意料的可能，在这样的市场里应该比在宽广的、运动的市场里投入较少的资本来承担风险。
42. Limit the risk in any one trade to a maximum of 10% and the risk in all open trades to a maximum of 25% of trading capital. (risk = pct of available capital). Determine this each day, adding profits and subtracting losses in open trades, and combine this net figure with your trading capital.
将你每一手交易的风险控制在百分之十以内。将你所有持仓的交易的总风险控制在最多不超过交易资本的百分之二十五（风险=可用资本的百分比）。每天对此加以计算，在持仓交易中加上盈利，减去亏损，再把这一数字同你的交易资本结合起来。
43. It does not take much capital to trade a market if one has knowledge and understanding. St. Paul said, "when I am weak I am strong."
如果你懂得和理解一个市场，做交易并不需要很多资本。圣保尔说过，"我在软弱时则强壮"。
44. Speech may be silver but "Silence is Golden". Traders with the golden touch do not talk.
言谈可能是银子，可"沉默是金子"。有点金术的交易商稀于言谈。
45. Common trading errors include: A) trading without good reasons. B) trading on hope rather than facts. C) overloading without regard for capital.
常见的交易错误包括：A、理由不充分的交易；B、基于希望多于事实的交易；C、与资本不相称的超量交易。
46. "I like the short side of the market because there is usually less company". The mob is usually wrong. It is usually long.
"我喜欢市场看空的一边，因为通常这里人要少一些"。蜂拥之众通常是错的，它通常是看多。
47. A fatal mistake made by the fundamental trader is to take small profits. This is the result of limited vision ??? extremes always seem silly to men of so called good judgment.
初学交易的人的一个致命的错误是稍有赢利就出手。这是目光短浅的结果--对所谓的明智的人来说，走极端总是愚蠢的。
48. Trade only when you have a good reason on an appraisal of fundamentals and using chart action for confirmation and timing of entry and exit.
只有当你根据基本面的分析作出估价，运用图表行为加以证实，并策划好入市和出市的时间，只有当这些加在一起为你提供了充足的理由时，再做交易。
49. Believe that "the big one is possible" --be there when it starts. Have the gross power to act, be rested mentally and physically, and finally let your profits run and cut your losses quickly.
相信"大的未必不可能"--一旦大的发生了，不至于手忙脚乱。让综合的力量自己行动，精神上和肉体上都休息充分，最终让你的利润滚动，迅速地砍掉你的损失。
50. Dream big dreams and think tall. Very few people set goals too high. A man becomes what he thinks about all day long.