In fact, of all hoodoos in Wall Street I think the resolve to induce the stock market to act as a fairy godmother is the busiest and most persistent.
That is one trouble about trading on a large scale. You cannot sneak out as you can when you pike along.
The speculator is not an investor.
" I am carrying so much cotton that I can't sleep thinking about it. It is wearing me out. What can I do?" " Sell down to the sleeping point," answered the friend.
And for a sucker play a man gets sucker pay; for the paymaster is on the job and never losses the pay envelope that is coming to you.
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When it comes to selling stocks, it is plain that nobody can sell unless somebody wants those stocks. If you operate on a large scale you will have to bear that in mind all the time.
the public never is independently responsive to news.
One of the most helpful things that any body can learn is to give up trying to catch the last eighth - or the first. These two are the most expensive eighths in the world.
There is nothing like losing all you have in the world for teaching you what not to do. And when you know what not to do in order not to lose money, you begin to learn what to do in order to win. Did you get that? You begin to learn!
The game taught me the game.
A stock operator has to fight a lot of expensive enemies within himself.
A battle goes on in the stock market and the tape is your telescope. You can depend upon it seven out of ten cases.