Never try to sell at the top. It isn't wise. Sell after a reaction if there is no rally.

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

I did precisely the wrong thing. The cotton showed me a loss and I kept it. The wheat showed me a profit and I sold it out. Of all the speculative blunders there are few greater than trying to average a losing game. Always sell what shows you a loss and keep what shows you a profit.

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 isn't as important to buy as cheap as possible as it is to buy at the right time.

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.