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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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Jesse Lauriston Livermore
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More quotes by Jesse Lauriston Livermore

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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 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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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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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
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A man must believe in himself and his judgement if he expects to make a living at this game. That is why I don't believe in tips.
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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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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The stock market is never obvious. It is designed to fool most of the people, most of the time.
Jesse Lauriston Livermore
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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
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No one ever went broke by taking a profit.
Jesse Lauriston Livermore
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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
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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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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
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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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One of the most helpful things that anybody can learn is to give up trying to catch the last eighth - or the first. These two are the most expensive eighths in the world. They have cost stock traders, in the aggregate, enough millions of dollars to build a concrete highway across the continent.
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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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
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There is only one side to the stock market and it is not the bull side or the bear side, but the right side
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
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There is time to go long, time to go short and time to go fishing.
Jesse Lauriston Livermore