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Most people, whether bull or bear, when they are right, are right for the wrong reason, in my opinion.
Jesse Lauriston Livermore
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More quotes by Jesse Lauriston Livermore
At long as a stock is acting right, and the market is right, do not be in a hurry to take profits. One should never permit speculative ventures to run into investments.
Jesse Lauriston Livermore
Money is made by sitting, not trading.
Jesse Lauriston Livermore
When I'm bearish and I sell a stock, each sale must be at a lower level than the previous sale. When I am buying, the reverse is true. I must buy on a rising scale. I don't buy long stocks on a scale down, I buy on a scale up.
Jesse Lauriston Livermore
It never was my thinking that made the big money for me. It always was my sitting.
Jesse Lauriston 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 Lauriston 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 Lauriston Livermore
Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money.
Jesse Lauriston 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 Lauriston Livermore
It took me five years to learn to play the game intelligently enough to make big money when I was right.
Jesse Lauriston Livermore
If I learned all this so slowly it was because I learned by my mistakes, and some time always elapses between making a mistake and realizing it, and more time between realizing it and exactly determining it.
Jesse Lauriston Livermore
He will risk half his fortune in the stock market with less reflection that he devotes to the selection of a medium-priced automobile.
Jesse Lauriston Livermore
It isn't a hunch but the subconscious mind, which is the creative mind, at work. That is the mind which makes artists do things without their knowing how they came to do them. Perhaps with me it was the cumulative effect of a lot of little things individually insignificant but collectively powerful.
Jesse Lauriston 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?
Jesse Lauriston Livermore
The desire for constant action irrespective of underlying conditions is responsible for many losses on Wall Street even among the professionals, who feel that they must take home some money every day, as though they were working for regular wages.
Jesse Lauriston Livermore
Never try to sell at the top. It isn't wise. Sell after a reaction if there is no rally.
Jesse Lauriston Livermore
It isn't as important to buy as cheap as possible as it is to buy at the right time.
Jesse Lauriston 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 Lauriston Livermore
No one ever went broke by taking a profit.
Jesse Lauriston Livermore
To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.
Jesse Lauriston Livermore
For instance, let us say that a new stock has been listed in the last two or three years and its high was 20, or any other figure, and that such a price was made two or three years ago. If something favorable happens in connection with the company, and the stock starts upward, usually it is safe play to buy the minute it touches a brand new high.
Jesse Lauriston Livermore
