Here are some invaluable quotes from Jesse Livermore. Personally, I was too dumb to appreciate them when I was green; I only got to understand them when the market made me pay for the lesson. But they still serve as a set of reminders to not be forgotten. I've highlighted some of my personal favorites.
1. “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.”
2. “Trade only when the market is clearly bullish or bearish.”
3. “Buy rising stocks and sell falling stocks.”
4. “Markets are never wrong – opinions often are.”
5. “Not taking the loss, that is what does damage to the pocketbook and to the soul.”
6. “I must buy on a rising scale. I don’t buy long stocks on a scale down I buy on a scale up."
7. “A stock operator has to fight a lot of expensive enemies within himself.”
8. “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.”
9. “He must fear that his loss may develop into a much bigger loss, and hope that his profit may become a big profit. It is absolutely wrong to gamble in stocks the way the average man does.”
10. “I don’t know whether I make myself plain, but I never lose my temper over the stock market. I never argue with the tape. Getting sore at the market doesn’t get you anywhere.”
11. “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!”
12. “There is only one side to the stock market; and it is not the bull side or the bear side, but the right side.”
13. “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.”
14. “... 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.”
15. “Do not anticipate and move without market confirmation—being a little late in your trade is your insurance that you are right or wrong.”
16. “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.”
17. “The worse a situation becomes, the less it takes to turn it around, the bigger upside.”
18. “If there was any easy money lying around, no one would be forcing it into your pocket.”
19. “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.”
20. “To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.”
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Jesse Lauriston Livermore Quotes About Success
21. “Only enter a trade after the action of the market confirms your opinion and then enter promptly.”
22. “It is foolhardy to make a second trade, if your first trade shows you a loss. Never average losses. Let this thought be written indelibly upon your mind.”
23. “It is what people actually did in the stock market that counted – not what they said they were going to do.”
24. “Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn...”
25. “There is time to go long, time to go short and time to go fishing.”
26. “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.”
27. “Successful trading is always an emotional battle for the speculator, not an intelligent battle.”
28. “Patterns repeat, because human nature hasn’t changed for thousands of years.”
29. “The game taught me the game. And it didn’t spare the rod while teaching.”
30. “It took me five years to learn to play the game intelligently enough to make big money when I was right.”
31. “... my game was to anticipate what was going to happen in a big way.”
32. “Copper your customers, and grow rich.”
33. “There is nothing like losing all you have in the world for teaching you what not to do.”
34. “I had to study what was going to happen; to anticipate stock movements. That sounds asininely commonplace, but you know what I mean.”
35. “The market does not beat them. They beat themselves, because though they have brains they cannot sit tight.”
36. “The only thing to do when a person is wrong is to be right, by ceasing to be wrong. Cut your losses quickly, without hesitation. Don’t waste time.”
37. “What beat me was not having enough brain to stick to my own game. There is a Wall Street fool, who thinks he must trade all the time.”
38. “The stock market is never obvious. It is designed to fool most of the people, most of the time.”
39. “... who feel that they must take home some money every day, as though they were working for regular wages.”
40. “If you don’t know who you are, then the stock market is an expensive way to find out.”
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Jesse Livermore Quotes About Money
41. “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.”
42. “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.”
43. “In a bull market and particularly in booms the public at first makes money which it later loses simply by overstaying the bull market.”
44. “All through time, people have basically acted and re-acted the same way in the market as a result of: greed, fear, ignorance, and hope"
45. “But careful timing is essential… impatience is costly.”
46. “You will reap benefits from their mistakes.”
47. “The finest art is not to lose money. Making money in the stock market can be done by anybody.”
48. “Profits always take care of themselves but losses never do.”
49. “He will risk half his fortune in the stock market with less reflection than he devotes to the selection of a medium-priced automobile.”
50. “If I hadn’t made money some of the time I might have acquired market wisdom quicker.”
51. “A man must believe in himself... I don’t believe in tips.”
52. “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”
53. "It isn't as important to buy as cheap as possible as it is to buy at the right time."
54. “I had a hard time convincing her (my mother) that I was not gambling, but making money by figuring.”
55. “It is not good to be too curious about all the reasons behind price movements.”
56. “Go long when stocks reach a new high. Sell short when they reach a new low.”
57. “I call a Pivotal Point before I started to trade; I have always made money in my operations.”
58. “Never buy at the bottom, and always sell too soon.”
59. “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.”
60. “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.”
61.“Losing money is the least of my troubles. A loss never troubles me after I take it. I forget it overnight...”
62.“As long as a stock is acting right, and the market is right, do not be in a hurry to take profits.”
- Jesse Lauriston Livermore.
Here at Kidadl, we have carefully created lots of interesting family-friendly quotes for everyone to enjoy! If you liked our suggestions for Jesse Lauriston Livermore quotes, then why not take a look at these Charlie Munger quotes or John D. Rockefeller quotes too? |
