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Quote by 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.”

Quote by Jesse Lauriston Livermore

Author

Jesse Lauriston Livermore

Jesse Lauriston Livermore was a renowned stock trader, born on July 26, 1877, and died on November 28, 1940. He was known for his keen insight and bold investment strategies in the stock market, often referred to as the 'King of the Stock Market'. more

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“Remember this: When you are doing nothing, those speculators who feel they must trade day in and day out, are laying the foundation for your next venture. You will reap benefits from their mistakes.”

Feels Remember Next Mistake Benefits Foundation Trade Investing Venture Trading Doing Nothing Reap Speculators

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

“"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?”

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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."”

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“A man must study general conditions, to seize them so as to be able to anticipate probabilities.”

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“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.”

Trying Shows Games Loss Greater Losing Sells Investing Average Profit Trading Wrong Things Wheat Cotton Blunders

Author:Jesse Lauriston Livermore

“If you can't sleep at night because of your stock market position, then you have gone too far. If this is the case, then sell your position down to the sleeping level.”

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Author:Jesse Lauriston Livermore

“A prudent speculator never argues with the tape. Markets are never wrong, opinions often are.”

Opinion Investing Arguing Tape Trading Prudent Speculators

Author:Jesse Lauriston Livermore

“Professional traders have always had some system or other based upon their experience and governed either by their attitude towards speculation or by their desires.”

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Author:Jesse Lauriston Livermore

“Don't take action with a trade until the market, itself, confirms your opinion. Being a little late in a trade is insurance that your opinion is correct. In other words, don't be an impatient trader.”

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Author:Jesse Lauriston Livermore

“It is foolhardy to make a second trade, if your first trade shows you a loss. Never average losses. Let this thought be written indelibly upon your mind.”

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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