Don't concern yourself with why things are happening. Only observe what is happening. The reasons why will be eventually revealed to you - by then it will be too late to make money - the move will be over!
No trader an or should play the market all the time.
Don't try and anticipate what the market will do next - simply go with the evidence of what the market is telling you - presenting to you.
Profits always take care of themselves but losses never do!
Stocks are never too high to begin buying or too low to begin selling short.
As long as a stock is acting righ, and the market is right, do not be in a hurry to take a profit
The chief executive officer of most companies is little more than a cheerleader who has only one job with regard to the market.
New highs are very important for timing.
Group actoin is a key to timing
Trade the leading stocks in the leading groups - as the leaders go so goes the entire market.
Beware after a long trend up when volumn gets heavy, and stocks churn.
Never become an involuntary investor by holding a declining stock.
Never buy a stock on reactions, and never short a stock on rallies.
Never meet a margin call and never average down in your buying.
“There is nothing new on Wall Street or in stock speculation. What has happened in the past will happen again, and again, and again. This is because human nature does not change, and it is human emotion that always gets in the way of human intelligence. Of this I am sure.”
Here is a summary of Jesse Livermore’s money management rules:
1. Use probes—don’t buy your entire position all at one time;
2. Never lose more than 10 percent of your investment;
3. Always keep a cash reserve;
4. You need a reason to buy a stock and you need a reason to sell;
5. Put half the profit from a windfall trade in the bank.
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