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.

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.

They say you never grow poor taking profits. No, you don't. But neither do you grow rich taking a four-point profit in a bull market. Where I should have made twenty thousand dollars I made two thousand. That was what conservatism did for me.

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.

The market always does what it should do, but not always when

People who look for easy money invariable pay for the privilege of proving conclusively that it cannot be found on this earth.

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.