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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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Jesse Lauriston Livermore
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More quotes by Jesse Lauriston Livermore
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
If the unusual never happened there would be no difference in people and then there wouldn't be any fun in life. The game would become merely a matter of addition and subtraction. It would make of us a race of bookkeepers with plodding minds. It's the guessing that develops a man's brain power.
Jesse Lauriston Livermore
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
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
It takes a man a long time to learn all the lessons of all his mistakes.
Jesse Lauriston Livermore
Most people, whether bull or bear, when they are right, are right for the wrong reason, in my opinion.
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
No one ever went broke by taking a profit.
Jesse Lauriston Livermore
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
It never was my thinking that made the big money for me. It always was my sitting.
Jesse Lauriston Livermore
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
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
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 buy at the bottom, and always sell too soon.
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
There is time to go long, time to go short and time to go fishing.
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
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
Never try to sell at the top. It isn't wise. Sell after a reaction if there is no rally.
Jesse Lauriston Livermore
A man must study general conditions, to seize them so as to be able to anticipate probabilities.
Jesse Lauriston Livermore
