Clear Thinking

But my greatest discovery was that a man must study general conditions, to size them so as to be able to anticipate probabilities. In short, I had learned that I had to work for my money. I was no longer betting blindly or concerned with mastering the technic of the game, but with earning my successes by hard study and clear thinking.----REMINISCENCES OF A STOCK OPERATOR by Edwin LeFevre

Begin To Learn

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!--REMINISCENCES OF A STOCK OPERATOR by Edwin LeFevre

Diagnosis

If a stock doesn't act right don't touch it; because, being unable to tell precisely what is wrong, you cannot tell which way it is going. No diagnosis, no prognosis. No prognosis, no profit.----REMINISCENCES OF A STOCK OPERATOR by Edwin LeFevre

Plan

The Perfect speculator must know when to get in; more important he must know when to stay out: and most important he must know when to get out once he is in.---- Trend Following Michael W. Covel.