The sitting

Jesse Livermore said it well in the now much-quoted, “It never was my thinking that made the big money for me. It always was my sitting.” He was referring to entering a position, and then sitting on it for possibly months at a time. We as short term traders like to decontextualize the quote and place it within our own reality : It’s the sitting, the waiting for that perfect setup, that makes us the consistent money. Waiting for a setup that meets all your conditions is the most important and the most difficult thing we have learnt from our years of trading.