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Quote by 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."”

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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“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.”

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

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“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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“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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“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

“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.”

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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.”

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“People who look for easy money invariable pay for the privilege of proving conclusively that it cannot be found on this earth.”

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