patience

Hi guys. This is something I found a year or so ago while browsing the net. I posted it before on couple of my other holdings. Have a read, think about it, digest it...:-)...

Quote from Jesse Livermore:

“And right here let me say one thing: After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this:
It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets.

I have known lots of men who were right at exactly the right time, and began buying and selling stocks when the prices were at the very level which should show the greatest profits. And their invariably experience matched mine – that is, they made no real money out of it. Men who can both be right and sit tight are very uncommon. I found it the hardest things to learn. But it is only after a stock operator has firmly grasped this, that he can make big money”.