Time is the most important element in stock trading.
Speculation is a business, not a gamble.
Money cannot be made consistently trading in stocks every day or every week during the year.
Speculation is correct anticipation of coming events and the best anticipation is that of the psychological effect that certain expected news will have upon the mind of the public.
Do not trust your opinions… but let the action of the market confirm your opinions.
Markets are never wrong. Opinions are.
Real money in speculating is made when you show a profit in your operations right from the start…
Concentrate in one jackpot at a time. Do not try to have an interest in more than one.
As long as a stock is acting right and the market is right, do not be in a hurry to take a profit.
Profits always take care of themselves, but losses never do.
Speculators insure themselves against large losses by taking the first small loss.
There are no investments. There is only speculation.
Money lost by speculators is a microscopical fraction when compared with the money lost by investors.
The investors are the big gamblers.
Many lost their capital funds by selling a stock short after a long upward movement… when it seemed too high…
Do not buy a stock because of a decline from its previous high. That stock may still be too high…
In my method of trading… I BUY after a stock makes a NEW HIGH…
I never buy on reactions… I never go short on rallies…
When a stock enters into a trend… it works automatically along certain lines…
Never be afraid of the normal movements; be fearful of the abnormal…
Do not let a stock go stale on you…
Speculators who try for profits from daily minor movements will never reap the major when they occur…
Real movements do not end the day they start.
If you cannot make money out of the leading active issues, you are not going to make money out of the stock market as a whole.
Follow the leaders.
Do not average losses. Do not average down. Stocks decline much faster than they climb. No speculator can stand the pressure of averaging losses.