Jesse Livermore quotes

Who the hell is Jesse Livermore?

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

Jesse Livermore books

Jesse Livermore quotes

“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 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

“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 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

“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 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

“Buy rising stocks and sell falling stocks.”

Jesse Livermore

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

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

“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

“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 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 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 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

“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 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

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

Jesse Livermore How to Trade In Stocks

“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

“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

“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 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

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

Jesse Livermore

“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

“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 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 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 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

“Money is made by sitting, not trading.”

Jesse Livermore

“Never average losses.”

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

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

Jesse Livermore

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

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

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

Jesse Livermore

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

“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

“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

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

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 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

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

Jesse Livermore

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

Jesse Livermore

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

Jesse Livermore

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

“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 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

“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

“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

“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

“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

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

Jesse Livermore