It was never my thinking that made money for me. It was always
my sitting. Got that? My sitting tight! . . . Men who can be both
right and sit tight are uncommon. I found it one of the hardest
things to learn. But it is only after a stock operator has firmly
grasped this that he can make big money. 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.
Nobody can catch all the fluctuations. In a bull market your game is
to buy and hold until you believe the bull market is near its end. To
do this you must study general conditions and not tips or factors affecting
individual stocks. Then get out of all your stocks; get out for
keeps!
(Jesse Livermore, Reminiscences of a Stock Operator).
