Trading (or investing) is a tough profession not because the markets are tough to deal with – they are – but mostly because human emotions play a much bigger role in it than in any other professions. That is why it helps to keep some anchors and rudders – either real or virtual – that can keep you in the right frame of mind and right direction.

Below are some pearls of wisdom which will help you develop your own anchors and rudders.

I always look at my losses and then ask, ‘What have I learned?’  If I’ve learned something valuable, I don’t consider it a loss. I take it as a lesson or an insight into my character — laziness, greed, stupidity, impatience.
– Richard Russell