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

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.

Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money.

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!

It is what people actually did in the stock market that counted - not what they said they were going to do.

Men who can both be right and sit tight are uncommon.

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.