"The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge."Intellectual capital will always trump financial capitalThe concept of paying one-hundred-and-something times earnings for any company for me is just anathema. Having said that, at the end of the day, your job is to buy what goes up and to sell what goes down so really who gives a damn about PE's?Every day I assume every position I have is wrongLosers average losersThere is no training, classroom or otherwise, that can prepare for trading the last third of a move, whether it's the end of a bull market or the end of a bear marketYou adapt, evolve, compete or dieTrading is very competitive and you have to be able to handle getting your butt kickedIf trading is like chess, then macro is like three-dimensional chessFailure was a key element to my lifes journeyWhere you want to be is always in control, never wishing, always trading, and always, first and foremost protecting your buttI believe the very best money is made at the market turns. Everyone says you get killed trying to pick tops and bottoms and you make all your money by playing the trend in the middle. Well for twelve years I have been missing the meat in the middle but I have made a lot of money at tops and bottomsAt the end of the day, the most important thing is how good are you at risk control