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Disregarding the big swing and trying to jump in and out was fatal to me. Nobody can catch all the fluctuations. In a bull market your game is to buy and hold until you believe that the bull market is near its end. To do this you must study general conditions and not tips or special factors affecting individual stocks.

Jesse Lauriston Livermore

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Jesse Lauriston Livermore
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More quotes by Jesse Lauriston Livermore

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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
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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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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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A man must study general conditions, to seize them so as to be able to anticipate probabilities.
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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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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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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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 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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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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Never buy at the bottom, and always sell too soon.
Jesse Lauriston Livermore
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Money is made by sitting, not trading.
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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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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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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It never was my thinking that made the big money for me. It always was my sitting.
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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It takes a man a long time to learn all the lessons of all his mistakes.
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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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