Don't take action with a trade until the market, itself, confirms your opinion. Being a little late in a trade is insurance that your opinion is correct. In other words, don't be an impatient trader.

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

To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.

The stock market is never obvious. It is designed to fool most of the people, most of the time.

The only thing to do when a man is wrong is to be right by ceasing to be wrong.

Instead of hoping he must fear and instead of fearing he must hope. He must fear that his loss may develop into a much bigger loss, and hope that his profit may become a big profit.

I never argue with the tape. To be angry at the market because it unexpectedly or even illogically goes against you is like getting mad at your lungs because you have pneumonia.