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

Jesse Lauriston Livermore

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Jesse Lauriston Livermore
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More quotes by Jesse Lauriston Livermore

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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
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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
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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
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Money is made by sitting, not trading.
Jesse Lauriston Livermore
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On Pat Hearne - He made money in stocks, and that made people ask him for advice. He would never give any. If they asked him point-blank for his opinion about the wisdom of their commitments he used a favorite race-track maxim of his: You can't tell till you bet.
Jesse Lauriston Livermore
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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
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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 Lauriston Livermore
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Never try to sell at the top. It isn't wise. Sell after a reaction if there is no rally.
Jesse Lauriston Livermore
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I can't sleep answered the nervous one. Why not? asked the friend. I am carrying so much cotton that I can't sleep thinking about. It is wearing me out. What can I do? Sell down to the sleeping point, answered the friend.
Jesse Lauriston Livermore
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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
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There is the plain fool who does the wrong thing at all times anywhere, but there is the Wall Street fool who thinks he must trade all the time.
Jesse Lauriston Livermore
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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.
Jesse Lauriston Livermore
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It takes a man a long time to learn all the lessons of all his mistakes.
Jesse Lauriston Livermore
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It never was my thinking that made the big money for me. It always was my sitting.
Jesse Lauriston Livermore
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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
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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
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It took me five years to learn to play the game intelligently enough to make big money when I was right.
Jesse Lauriston Livermore
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Speculation is a hard and trying business, and a speculator must be on the job all the time or he'll soon have no job to be on.
Jesse Lauriston Livermore
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I have always played a lone hand. It is the way my mind works. I have to do my own seeing and my own thinking. But I can tell you that after the market began to go my way I felt for the first time in my life that I had allies - the strongest and truest in the world: underlying conditions. They were helping me with all their might.
Jesse Lauriston Livermore
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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