Every once in a while you must go to cash, take a break, take a vacation. Don't try to play the market all the time. It can't be done, too tough on the emotions.

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.

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

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

There is time to go long, time to go short and time to go fishing.

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

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.