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Throughout my trading career, I have continually witnessed examples of other people that I have known being ruined by a failure to respect risk. If you don’t take a hard look at risk, it will take you.

Larry Hite

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Larry Hite
Age: 68
Born: 1956
Born: January 1
Financier
Foreign Currency Trader
Manager
Take
Career
Hard
Careers
Witnessed
People
Respect
Examples
Risk
Trading
Example
Continually
Known
Ruined
Look
Throughout
Looks
Failure

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It is incredible how rich you can get by not being perfect
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If you diversify, control your risk, and go with the trend, it just has to work.
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Never risk more than 1% of total account equity on any one trade. By risking 1%, I am indifferent to any individual trade. Keeping your risk small and constant is absolutely critical.
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I have two basic rules about winning in trading as well as in life: 1. If you don't bet, you can't win. 2. If you lose all your chips, you can't bet.
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We approach markets backwards. The first thing we ask is not what can we make, but how much can we lose. We play a defensive game.
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Frankly, I don't see markets I see risks, rewards, and money.
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