This is Michael Marcus.

He turned $30,000 into $80 million through trading futures and currencies.
Here is his trading philosophy:
1. The 5% rule
Never risk more than 5% on a single idea.
Not a single trade, but an idea.
Long gold and long silver = the same idea. This totals 5%, not 5% each.
"That way, you can be wrong more than twenty times. Losing money takes a long time."
2. Stop-loss rule
Set a stop-loss on every trade. No exceptions.
Not a mental stop-loss, but a real order with your broker.
"You must commit to exiting at a certain point."
Once you enter, you know where you are wrong.
3. The 5-minute rule
If within 5 minutes of entry you feel something is wrong, exit.
Don’t consider commissions.
Don’t worry about what your broker thinks.
Don’t wait to see if you’re right.
When you’re unsure about a position and don’t know what to do, exit immediately. You can always re-enter later.
4. Sleep rule
Feeling unclear? Turn everything off.
When you’re in the market, you can’t think clearly. When you exit, you can think clearly again.
He does this repeatedly. Close positions. Sleep. If it still makes sense the next day, re-enter.