The Lessons - Warren Buffett is the world's most famous long-term investor and forex traders can learn from him too

1. "One of the hardest things for most investors is to sit by and watch other people make money," says Howard Marks, co-chairman of Los Angeles-based Oaktree Capital Management, who has known Mr. Buffett for many years. "But that doesn't bother Warren at all when the opportunities are outside his sphere." 

2. "Warren has the ability to figure out which things are important in a whole narrative and to ignore everything else," Mr. Marks says.

3. "[Buffett is] extraordinarily good at knowing what he's good at and what he's not, and staying away from the latter."Don't fall in love with the flavour of the week. Even if there isn't anything you're particularly good at, decide what you want to be and stick with it. The underlying message here is simple - stay disciplined.