Timing is crucial in trading from "summary" of Reminiscences of a Stock Operator by Edwin Lefevre
Timing, my boy, timing is everything in trading. It's not just about buying low and selling high. It's about knowing when to make your move, when to strike while the iron is hot. You see, the market is like a living, breathing organism. It reacts to the ebb and flow of human emotions, to the pulse of fear and greed that drives us all. And if you can anticipate those movements, if you can sense when the tide is about to turn, well, then you're halfway there. I've seen too many traders lose their shirts because they were too impatient, too eager to make a quick buck. They jump in too soon, before the market has shown its hand. They don't wait for confirmation, for that signal that it's time to pounce. And they end up getting burned, caught on the wrong side of a sudden reversal. But timing, my boy, timing is not just about when to buy or sell. It's also about knowing when to sit on your hands, when to bide your time and wait for the right opportunity to present itself. Sometimes the best trade is the one you don't make, the one you have the discipline to let pass you by. Remember, the market is a vast and complex beast. It can humble the most experienced trader, the most cunning speculator. But if you respect its power, if you approach it with caution and humility, well, then you just might stand a chance. So keep your wits about you, my boy, and always remember that timing is crucial in trading.
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