When a man is right he wants to get all that is coming to him for being right.

Money is made by sitting, not trading.

Never buy at the bottom, and always sell too soon.

Most people, whether bull or bear, when they are right, are right for the wrong reason, in my opinion.

Speculation is a hard and trying business, and a speculator must be on the job all the time or he'll soon have no job to be on.

It is literally true that millions come easier to a trader after he knows how to trade, than hundreds did in the days of his ignorance.

I did precisely the wrong thing. The cotton showed me a loss and I kept it. The wheat showed me a profit and I sold it out. Of all the speculative blunders there are few greater than trying to average a losing game. Always sell what shows you a loss and keep what shows you a profit.