Learning from Reminisces Of A Stock Operator

P.51
Mr. Partridge say: "Well, you know this is a Bull market!".

The big money was not in the individual fluctuations but in the main movements that is, not in reading the tape but in sizing up the entire market and it's Trend.

Lesson after making and losing millions of dollars in trading:
It always in sitting. Sitting tight! It is no trick at all to be right on the market. We always find lots of early bulls in bull markets and early bears in bear markets. Many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level, which should show the greatest profit. But they made no real money out of it.
Men who can both be right and sit tight are uncommon. It is one of the hardest 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.
The reason is that a man may see straight and clearly and yet become impatient or doubtful when the market takes its time about doing as he figured it must do.
Dis regarding the big swing and trying to jump in and out was fatal in trading. Nobody can catch all the fluctuations. In a bull market you game is to buy and hold until you believe that the bull market is near its end. To do this you must study general conditions and not tips or special factors affecting individual stocks.  You have to use your brains and your vision to do this; otherwise my advice would be as idiotic as to tell to buy cheap and sell dear.

Without faith in his own judgement no man can go very far in the game of trading.

It is the big swing that makes the big money in trading.