Jesse Livermore Quotes

Who is Jesse Livermore?

Jesse Lauriston Livermore was an American investor, known for the classic book 'How to Trade in Stocks'

Born July 26, 1877
Died November 28, 1940

Books by Jesse Livermore


Best 144 Quotes by Jesse Livermore

“A loss never bothers me after I take it. I forget it overnight. But being wrong – not taking the loss, that is what does the damage to the pocketbook and to the soul.”

Jesse Livermore

“A man must believe in himself and his judgment if he expects to make a living at this game. That’s why I don’t believe in tips.”

Jesse Livermore

“A man must study general conditions, to seize them so as to be able to anticipate probabilities.”

Jesse Livermore

“A man will risk half his fortune in the stock market with less reflection than he devotes to the selection of a medium-priced automobile.”

Jesse Livermore

“A prudent speculator never argues with the tape. Markets are never wrong, opinions often are.”

Jesse Livermore

“A speculator should make it a rule each time he closes out a successful deal to take one-half of his profits and lock this sum up in a safe deposit box. The only money that is ever taken out of Wall Street by speculators is the money they draw out of their accounts after closing a successful deal.”

Jesse Livermore

“A stock is never too high to buy and never too low to short.”

Jesse Livermore

“A stock operator has to fight a lot of expensive enemies within himself. ”

Jesse Livermore

“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!”

Jesse Livermore

“All my life I have made mistakes, but in losing money I have gained experience and accumulated a lot of valuable don’ts. I have been flat broke several times, but my loss has never been a total loss. Otherwise, I wouldn’t be here now. I always knew I would have another chance and that I would not make the same mistake a second time. I believed in myself. ”

Jesse Livermore

“As long as a stock is acting right, and the market is right, do not be in a hurry to take profits.”

Jesse Livermore

“Big money is made in the stock market by being on the right side of the major moves. I don’t believe in swimming against the tide.”

Jesse Livermore

“Big movements take time to develop.”

Jesse Livermore

“Buy rising stocks and sell falling stocks.”

Jesse Livermore

“Careful timing is essential, impatience is costly.”

Jesse Livermore

“Co-ordinate your trading activity with pivot points.”

Jesse Livermore

“Continue with trades that show you a profit, end trades that show a loss.”

Jesse Livermore

“Copper your customers, and grow rich.”

Jesse Livermore

“Courage in a speculator is merely confidence to act on the decision of his mind.”

Jesse Livermore

“Cut your losses quickly, without hesitation. Don’t waste time.”

Jesse Livermore

“Do not become completely bearish or bullish on the whole market because one stock in some particular group has plainly reversed its course from the general trend.”

Jesse Livermore

Products by Jesse Livermore

“Do not trade every day of every year.”

Jesse Livermore

“Don't give me timing, give me time.”

Jesse Livermore

“Don’t become an involuntary investor by holding onto stocks whose price has fallen.”

Jesse Livermore

“Don’t take action with a trade until the market, itself, confirms your opinion. Being a little late in a trade is insurance that your opinion is correct. In other words, don’t be an impatient trader.”

Jesse Livermore

“Don’t trust your own opinion and back your judgment until the action of the market itself confirms your opinion.”

Jesse Livermore

“End trades when it is clear that the trend you are profiting from is over.”

Jesse Livermore

“Every once in a while you must go to cash, take a break, take a vacation. Don't try to play the market all the time. It can't be done, too tough on the emotions.”

Jesse Livermore

“Experience has proved to me that real money made in speculating has been in commitments in a stock or commodity showing a profit right from the start.”

Jesse Livermore

“Failure to take advantage of a serendipitous act of good luck in the stock market is often a mistake.”

Jesse Livermore

“Few people ever make money on tips. Beware of inside information.”

Jesse Livermore

“Go long when stocks reach a new high. Sell short when they reach a new low.”

Jesse Livermore

“I always made money when I was sure I was right before I began. ”

Jesse Livermore

“I become a buyer as soon as a stock makes a new high on its movement after having had a normal reaction.”

Jesse Livermore

“I began to realize that the big money must necessarily be in the big swing.”

Jesse Livermore

“I cannot fear to be wrong because I never think I'm wrong until I am proven wrong. In fact, I am uncomfortable unless I am capitalizing my experience.”

Jesse Livermore

“I did exactly the wrong thing. The cotton showed me a loss and I kept it. The wheat showed me a profit and I sold it out. Of all the speculative blunders there are few greater than trying to average a losing game. Always sell what shows you a loss and keep what shows you a profit.”

Jesse Livermore

“I didn’t always win. My plan of trading was sound enough and won oftener than it lost.”

Jesse Livermore

“I had a hard time convincing my mother that I was not gambling, but making money by figuring.”

Jesse Livermore

“I had to study what was going to happen; to anticipate stock movements. That sounds asininely commonplace, but you know what I mean.”

Jesse Livermore

“I know from experience that nobody can give me a tip or a series of tips that will make more money for me than my own judgement. ”

Jesse Livermore

“I must buy on a rising scale. I don’t buy long stocks on a scale down I buy on a scale up.”

Jesse Livermore

Products by Jesse Livermore

“I never argue with the tape. Getting sore at the market does not get you anywhere.”

Jesse Livermore

“I never hesitate to tell a man that I am bullish or bearish. But I do not tell people to buy or sell any particular stock. In a bear market all stocks go down and in a bull market they go up.”

Jesse Livermore

“I noticed that in advances as well as declines, stock prices were apt to show certain habits, so to speak. ”

Jesse Livermore

“I was convinced whatever was wrong was wrong with me and not with the market.”

Jesse Livermore

“I was utterly free of speculative prejudices. The bear side doesn't appeal to me any more than the bull side, or vice versa. My one steadfast prejudice is against being wrong.”

Jesse Livermore

“If a man didn't make mistakes he'd own the world in a month. But if he didn't profit by his mistakes he wouldn't own a blessed thing.”

Jesse Livermore

“If a man is both wise and lucky, he will not make the same mistake twice. But he will make any one of ten thousand brothers or cousins of the original.”

Jesse Livermore

“If I buy stocks on Smith’s tip I must sell those same stocks on Smith’s tip. I am depending on him. Suppose Smith is away on a holiday when the selling time comes around? No sir, nobody can make big money on what someone else tells him. ”

Jesse Livermore

“If I hadn’t made money some of the time I might have acquired market wisdom quicker.”

Jesse Livermore

“If somebody had told me my method would not work I nevertheless would have tried it out to make sure for myself, for when I am wrong only one thing convinces me of it, and that is, to lose money. And I am only right when I make money. That is speculating.”

Jesse Livermore

“If the unusual never happened there would be no difference in people and then there wouldn't be any fun in life. The game would become merely a matter of addition and subtraction. It would make of us a race of bookkeepers with plodding minds. It's the guessing that develops a man's brain power.”

Jesse Livermore

“If you can’t sleep at night because of your stock market position, then you have gone too far. If this is the case, then sell your position down to the sleeping level.”

Jesse Livermore

“If you don’t know who you are, then the stock market is an expensive way to find out.”

Jesse Livermore

“Ignorance at twenty-two isn't a structural defect.”

Jesse Livermore

“In a bull market and particularly in booms the public at first makes money which it later loses simply by overstaying the bull market.”

Jesse Livermore

“In a bull market your game is to buy and hold until you believe that the bull market is near it’s end. To do this you must study general conditions and not tips or special factors affecting individual stocks. Then get out of all your stocks; get out for keeps! ”

Jesse Livermore

“In a narrow market, when prices are not getting anywhere to speak of but move within a narrow range, there is no sense in trying to anticipate what the next big movement is going to be. The thing to do is to watch the market, read the tape to determine the limits of the get nowhere prices, and make up your mind that you will not take an interest until the prices breaks through the limit in either direction.”

Jesse Livermore

“In any sector, trade the leading stock – the one showing the strongest trend.”

Jesse Livermore

“Instead of hoping he must fear and instead of fearing he must hope. He must fear that his loss may develop into a much bigger loss, and hope that his profit may become a big profit.”

Jesse Livermore

“It is absolutely wrong to gamble in stocks the way the average man does.”

Jesse Livermore

“It is almost as important to know what not to do as to know what should be done.”

Jesse Livermore

Products by Jesse Livermore

“It is literally true that millions come easier to a trader after he knows how to trade, than hundreds did in the days of his ignorance.”

Jesse Livermore

“It is not good to be too curious about all the reasons behind price movements.”

Jesse Livermore

“It is significant that a large part of a market movement occurs in the last forty-eight hours of a play, and that is the most important time to be in it.”

Jesse Livermore

“It is what people actually did in the stock market that counted – not what they said they were going to do.”

Jesse Livermore

“It isn't as important to buy as cheap as possible as it is to buy at the right time.”

Jesse Livermore

“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’ve known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine–that is, they made no real money out of it. Men who can both be right and sit tight are uncommon.”

Jesse Livermore

“It takes a man a long time to learn all the lessons of all his mistakes.”

Jesse Livermore

“It took me five years to learn to play the game intelligently enough to make big money when I was right.”

Jesse Livermore

“Just remember, without discipline, a clear strategy, and a concise plan, the speculator will fall into all the emotional pitfalls of the market - jump from one stock to another, hold a losing position too long, and cut out of a winner too soon, for no reason other than fear of losing profit. Greed, Fear, Impatience, Ignorance, and Hope will all fight for mental dominance over the speculator. Then, after a few failures and catastrophes the speculator may become demoralised, depressed, despondent, and abandon the market and the chance to make a fortune from what the market has to offer.”

Jesse Livermore

“Limit interest in too many stocks at one time. It is much easier to watch a few than many.”

Jesse Livermore

“Money cannot consistently be made trading every day or every week during the year.”

Jesse Livermore

“Money is made by sitting, not trading.”

Jesse Livermore

“Most people, whether bull or bear, when they are right, are right for the wrong reason, in my opinion.”

Jesse Livermore

“My game was to anticipate what was going to happen in a big way.”

Jesse Livermore

“Never average losses by, for example, buying more of a stock that has fallen.”

Jesse Livermore

“Never buy a stock because it has had a big decline from its previous high.”

Jesse Livermore

“Never buy at the bottom, and always sell too soon.”

Jesse Livermore

“Never meet a margin call – get out of the trade.”

Jesse Livermore

“Never try to sell at the top. It isn't wise. Sell after a reaction if there is no rally.”

Jesse Livermore

“No one ever went broke by taking a profit.”

Jesse Livermore

“No trading rules will deliver a profit 100 percent of the time.”

Jesse Livermore

Products by Jesse Livermore

“Nothing new ever occurs in the business of speculating or investing in securities and commodities.”

Jesse Livermore

“One should never permit speculative ventures to run into investments.”

Jesse Livermore

“One should never sell a stock, because it seems high-priced.”

Jesse Livermore

“Only enter a trade after the action of the market confirms your opinion and then enter promptly.”

Jesse Livermore

“Patterns repeat, because human nature hasn’t changed for thousand of year.”

Jesse Livermore

“Play the market only when all factors are in your favor. No person can play the market all the time and win. There are times when you should be completely out of the market, for emotional as well as economic reasons.”

Jesse Livermore

“Professional traders have always had some system or other based upon their experience and governed either by their attitude towards speculation or by their desires.”

Jesse Livermore

“Profits always take care of themselves but losses never do.”

Jesse Livermore

“Stocks are never too high to buy or too low to sell.”

Jesse Livermore

“Successful trading is always an emotional battle for the speculator, not an intelligent battle.”

Jesse Livermore

“The average man doesn’t wish to be told that it is a bull or a bear market. What he desires is to be told specifically which particular stock to buy or sell. He wants to get something for nothing. He does not wish to work. He doesn’t even wish to have to think.”

Jesse Livermore

“The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street among the professionals who feel that they must take home some money every day, as though they were working for a regular wage.”

Jesse Livermore

“The finest art is not to lose money. Making money in the stock market can be done by anybody.”

Jesse Livermore

“The game taught me the game. And it didn’t spare the rod while teaching.”

Jesse Livermore

“The highest profits are made in trades that show a profit right from the start.”

Jesse Livermore

“The human side of every person is the greatest enemy of the average investor or speculator.”

Jesse Livermore

“The leaders of today may not be the leaders of two years from now.”

Jesse Livermore

“The market always does what it should do, but not always when.”

Jesse Livermore

“The market does not beat them. They beat themselves, because though they have brains they cannot sit tight.”

Jesse Livermore

“The money lost by speculation alone is small compared with the gigantic sums lost by so-called investors who have let their investments ride.”

Jesse Livermore

“The only thing to do when a man is wrong is to be right by ceasing to be wrong.”

Jesse Livermore

Products by Jesse Livermore

“The speculator has to insure himself against considerable losses by taking the first small loss. In so doing, he keeps his account in order so that at some future time, when he has a constructive idea, he will be in a position to go into another deal, taking on the same amount of stock as he had when he was wrong.”

Jesse Livermore

“The stock market is never obvious. It is designed to fool most of the people, most of the time.”

Jesse Livermore

“The worse a situation becomes, the less it takes to turn it around, the bigger upside.”

Jesse Livermore

“There are times when you should be completely out of the market, for emotional as well as economic reasons.”

Jesse Livermore

“There is a time for all things, but I didn’t know it. And that is precisely what beats so many men in Wall Street who are very far from being in the main sucker class. There is the plain fool, who does the wrong thing at all times everywhere, but there is the Wall Street fool, who thinks he must trade all the time. No many can always have adequate reasons for buying and selling stocks daily – or sufficient knowledge to make his play an intelligent play. ”

Jesse Livermore

“There is nothing like losing all you have in the world for teaching you what not to do. And when you know what not to do in order not to lose money, you begin to learn what to do in order to win.”

Jesse Livermore

“There is nothing new in Wall Street. There can’t be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again.”

Jesse Livermore

“There is nothing new on Wall Street or in stock speculation. What has happened in the past will happen again, and again, and again. This is because human nature does not change, and it is human emotion, solidly build into human nature, that always gets in the way of human intelligence. Of this I am sure.”

Jesse Livermore

“There is time to go long, time to go short and time to go fishing.”

Jesse Livermore

“They say there are two sides to everything. But there is only one side to the stock market; and it is not the bull side or the bear side, but the right side. It took me longer to get that general principle fixed firmly in my mind than it did most of the more technical phases of the game of stock speculation.”

Jesse Livermore

“They say you never grow poor taking profits. No, you don't. But neither do you grow rich taking a four-point profit in a bull market. Where I should have made twenty thousand dollars I made two thousand. That was what conservatism did for me.”

Jesse Livermore

“To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.”

Jesse Livermore

“Trade in the direction of the general market. If it’s rising you should be long, if it’s falling you should be short.”

Jesse Livermore

“Trade only when the market is clearly bullish or bearish.”

Jesse Livermore

“Trends come like a series of ocean waves, bringing the high tide when things are good and, as conditions recede, the low tide appears. These trends come unexpectedly, unpredictably, and they have to be weathered with temperance, poise, and patience- good or bad.”

Jesse Livermore

“Wall Street never changes, the pockets change, the suckers change, the stocks change, but Wall Street never changes, because human nature never changes.”

Jesse Livermore

“What beat me was not having brains enough to stick to my own game – that is, to play the market only when I was satisfied that precedents favoured my play.”

Jesse Livermore

“What beat me was not having enough brain to stick to my own game.”

Jesse Livermore

“When a man is right he wants to get all that is coming to him for being right.”

Jesse Livermore

“When everyone thinks alike, there isn't much thinking taking place. Get out when you can, not when you have to.”

Jesse Livermore

“When I think I should sell, I sell. When I think stocks will go up, I buy. My adherence to that general principle of speculation saved me. ”

Jesse Livermore

Products by Jesse Livermore

“Wishful thinking must be banished.”

Jesse Livermore

“Without faith in his own judgment no man can go very far in this game.”

Jesse Livermore

“You can win on a stock, but you cannot beat Wall Street all the time.”

Jesse Livermore

How To Trade In Stocks Quotes

“If there was any easy money lying around, no one would be forcing it into your pocket.”

Jesse Livermore
How To Trade In Stocks

“If you are successful, most people are envious and they covet your success.”

Jesse Livermore
How To Trade In Stocks

How to Trade In Stocks Quotes

“If you have timed the movement correctly, your first commitment will show you a profit at the start.”

Jesse Livermore
How to Trade In Stocks

How To Trade In Stocks Quotes

“If you have timed the movement correctly, your first commitment will show you a profit at the start.”

Jesse Livermore
How To Trade In Stocks

How to Trade In Stocks Quotes

“It has always been my experience that I never benefited much from a move if I did not get in at somewhere near the beginning of that move.”

Jesse Livermore
How to Trade In Stocks

How To Trade In Stocks Quotes

“It is foolhardy to make a second trade, if your first trade shows you a loss. ”Never average losses.” Let that thought be written indelibly upon your mind.”

Jesse Livermore
How To Trade In Stocks

“Money in a broker’s account or in a bank account is not the same as if you feel it in your own fingers once in a while. Then it means something.”

Jesse Livermore
How To Trade In Stocks

“Remember this: when you are doing nothing, those speculators who feel they must trade day in and day out, are laying the foundation for your next venture. You will reap benefits from their mistakes.”

Jesse Livermore
How To Trade In Stocks

“Set your own rules and stick to them; never argue with the market; never make a play you can’t afford; never give way to irrational exuberance. Above all, don’t be a sucker.”

Jesse Livermore
How To Trade In Stocks

How to Trade In Stocks Quotes

“The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get-rich-quick adventurer. They will die poor.”

Jesse Livermore
How to Trade In Stocks

Reminiscences of a Stock Operator Quotes

“A man cannot be convinced against his own convictions, but he can be talked into a state of uncertainty and indecision, which is even worse, for that means that he cannot trade with confidence and comfort.”

Jesse Livermore
Reminiscences of a Stock Operator

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“A man must know himself thoroughly if he is going to make a good job out of trading in the speculative markets. To know what I was capable of in the line of folly was a long educational step. I sometimes think that no price is too high for a speculator to pay to learn that which will keep him from getting the swelled head.”

Jesse Livermore
Reminiscences of a Stock Operator

“The nature of the game as it is played is such that the public should realize that the truth cannot be told by the few who know.”

Jesse Livermore
Reminiscences of a Stock Operator

“The sucker has always tried to get something for nothing, and the appeal in all booms is always frankly to the gambling instinct aroused by cupidity and spurred by a pervasive prosperity. People who look for easy money invariably pay for the privilege of proving conclusively that it cannot be found on this sordid earth.”

Jesse Livermore
Reminiscences of a Stock Operator

“To learn that a man can make foolish plays for no reason whatever was a valuable lesson. It cost me millions to learn that another dangerous enemy to a trader is his susceptibility to the urgings of a magnetic personality when plausibly expressed by a brilliant mind. It has always seemed to me, however, that I might have learned my lesson quite as well if the cost had been only one million. But Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill, knowing you have to pay it, no matter what the amount may be.”

Jesse Livermore
Reminiscences of a Stock Operator