Im not going to post the link to his website because I dont want to be accused of pumping his blog, however, I believe his words are notable. Take a look and you can find his blog on google. "OK, so now for the lesson learned....... 2007 will end pretty well for me in terms of investment return. However, I would have wound up with a lot more cash in my pocket if I had the following insight a year ago: "Make it, then Take it." To explain: I need to start regarding trading as a source of income, not as a growing business. In other words, my hope was to grow my account bigger, and bigger, and bigger, and bigger. It hasn't worked out that way. Instead, my account will get bigger. For the sake of argument, let's say it goes from $100,000 to $200,000. Then I will trade more aggressively, and the market will turn against me, and the account will shrink to $110,000. Then I'll start up again, $110,000 to $210,000 (again, these are just hypotheticals to make the point). Then I'll start sucking again, having the account fall back down to $120,000. And so on. I've decided that, from now on, as I'm banking profits, I'm going to withdraw the money and shove it in my pocket. Banking profits will help reduce the account size when it is at its most vulnerable (that is, when I've been doing really well). Smaller account, smaller risk. And the profits get put somewhere safe (my pocket) instead of remaining at risk. This isn't some brilliant portfolio management advice for the world. It is driven by two things: (1) my personality; (2) the nature of the market these days, which tends to be moving in large up-and-down swings. In any case, whether it works for you or not, that's my takeaway for the year. Make it, then take it. I hope it helps a few of you in some way."