If I learned all this so slowly it was because I learned by my mistakes, and some time always elapses between making a mistake and realizing it, and more time between realizing it and exactly determining it.

When everyone thinks alike, there isn't much thinking taking place. Get out when you can, not when you have to.

A loss never bothers me after I take it. I forget it overnight. But being wrong - not taking the loss - that is what does damage to the pocketbook and to the soul.

There are times when you should be completely out of the market, for emotional as well as economic reasons.

It never was my thinking that made the big money for me. It always was my sitting.

One of the most helpful things that anybody can learn is to give up trying to catch the last eighth - or the first. These two are the most expensive eighths in the world. They have cost stock traders, in the aggregate, enough millions of dollars to build a concrete highway across the continent.

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.