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!

No one ever went broke by taking a profit.

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.

It took me five years to learn to play the game intelligently enough to make big money when I was right.

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.

The only thing to do when a man is wrong is to be right by ceasing to be wrong.

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.