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

After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!

There is nothing new in Wall Street. There can't be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again.

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

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.

It takes a man a long time to learn all the lessons of all his mistakes.

Money is made by sitting, not trading.