“They say you never grow poor taking profits. No, you don't. But neither do you grow rich taking a four-point profit in a bull market. Where I should have made twenty thousand dollars I made two thousand. That was what conservatism did for me.” ShouldMadeTwoGrowsPoorRichFourThousandShould HaveTwentiesDollarsProfitConservatismBullsBull Markets Author: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.” Has BeensMadeRealCommitmentInvestingProfitCommodityTrading Book:How to Trade in Stocks: The Livermore Formula for Combining Time Element and Price Source: How to Trade in Stocks: The Livermore Formula for Combining Time Element and Price
“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.” MayBigsLossBiggerInvestingProfitTradingHis Loss Author:Jesse Lauriston Livermore
“I did precisely the wrong thing. The cotton showed me a loss and I kept it. The wheat showed me a profit and I sold it out. Of all the speculative blunders there are few greater than trying to average a losing game. Always sell what shows you a loss and keep what shows you a profit.” TryingShowsGamesLossGreaterLosingSellsInvestingAverageProfitTradingWrong ThingsWheatCottonBlunders Author:Jesse Lauriston Livermore
“Just remember, without discipline, a clear strategy, and a concise plan, the speculator will fall into all the emotional pitfalls of the market - jump from one stock to another, hold a losing position too long, and cut out of a winner too soon, for no reason other than fear of losing profit. Greed, Fear, Impatience, Ignorance, and Hope will all fight for mental dominance over the speculator. Then, after a few failures and catastrophes the speculator may become demoralised, depressed, despondent, and abandon the market and the chance to make a fortune from what the market has to offer.” MayLongReasonRememberFallFightingChanceClearPsychologyCuttingPlansPositionIgnoranceEmotionalDisciplineOffersLosingStrategyFortuneGreedProfitWinnerNo ReasonAbandonCatastropheImpatienceDominancePitfallsConciseSpeculatorsDespondent Author: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.” ShouldLongRunningActingInvestmentProfitClassicPermitVentureActing Right Author:Jesse Lauriston Livermore
