The desire for constant action irrespective of underlying conditions is responsible for many losses on Wall Street even among the professionals, who feel that they must take home some money every day, as though they were working for regular wages.

Professional traders have always had some system or other based upon their experience and governed either by their attitude towards speculation or by their desires.

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

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

A market does not culminate in one grand blaze of glory. Neither does it end with a sudden reversal of form. A market can and does often cease to be a bull market long before prices generally begin to break.

I began to realize that the big money must necessarily be in the big swing.

It took me five years to learn to play the game intelligently enough to make big money when I was right.