"My experience with novice traders is that they trade three to five times too big. They are taking 5 to 10 percent risks on a trade when they should be taking 1 to 2 percent risks. The emotional burden of trading is substantial; on any given day, I could lose millions of dollars. If you personalize these losses, you can’t trade."

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If I had a million dollars, I just wouldn't just completely set back. I'd have to get out there and show my face to all these good people who like me, I have to get out there and show my face. The only thing that would set me back if I get sick or something or pass away, that's all you can do about that you know. But as long as I got my health goin' pretty good, I'll show up around here.

— Muddy Waters