"The big money is made by the sittin' and the waitin' -- not the thinking. Wait until all the factors are in your favor before making the trade." ---Livermore
"The big money is made by the sittin' and the waitin' -- not the thinking. Wait until all the factors are in your favor before making the trade." ---Livermore
Beside that two(sittin n waitin) thinking is at least equal important.
Also, let's not forget that Livermore wasn't such a good trader like the majority say he was. He blew several big accounts(at a time when he already gained a lot of knowledges) and in the end he committed suicide.
to get something to do outside trading, i.e., to not look at the screen constantly and click mouse all the time, and keep distance from the market data.
