No trader can or should play the market all the time. There will be many times when you should be out of the market, sitting in cash waiting patiently for the perfect trade…. ” – Jesse Livermore
“It is foolhardy to make a second trade, if your first trade shows you a loss…. As an ironclad Livermore rule, never average losses. Let that thought be written indelibly and forever upon your mind….” – Jesse Livermore
“Remember that it is dangerous to start spreading out all over the market carrying several positions. Do ...
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