A loss never bothers me after I take it. I forget it overnight. But being wrong - not taking the loss - that is what does damage to the pocketbook and to the soul.

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

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.

If I learned all this so slowly it was because I learned by my mistakes, and some time always elapses between making a mistake and realizing it, and more time between realizing it and exactly determining it.

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.

Speculation is a hard and trying business, and a speculator must be on the job all the time or he'll soon have no job to be on.

Money is made by sitting, not trading.