Jesse Lauriston Livermore Famous Quotes
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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 Quotes: If somebody had told me Jesse Lauriston Livermore Quotes: If somebody had told me](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-985442.jpg)
There is nothing new in Wall Street. There can't be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again.
![Jesse Lauriston Livermore Quotes: There is nothing new in Jesse Lauriston Livermore Quotes: There is nothing new in](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-1170116.jpg)
Men who can both be right and sit tight are uncommon.
![Jesse Lauriston Livermore Quotes: Men who can both be Jesse Lauriston Livermore Quotes: Men who can both be](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-1323881.jpg)
It took me five years to learn to play the game intelligently enough to make big money when I was right.
![Jesse Lauriston Livermore Quotes: It took me five years Jesse Lauriston Livermore Quotes: It took me five years](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-165540.jpg)
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.
![Jesse Lauriston Livermore Quotes: At long as a stock Jesse Lauriston Livermore Quotes: At long as a stock](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-492294.jpg)
Money is made by sitting, not trading.
![Jesse Lauriston Livermore Quotes: Money is made by sitting, Jesse Lauriston Livermore Quotes: Money is made by sitting,](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-802912.jpg)
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.
![Jesse Lauriston Livermore Quotes: If you can't sleep at Jesse Lauriston Livermore Quotes: If you can't sleep at](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-1426566.jpg)
Never try to sell at the top. It isn't wise. Sell after a reaction if there is no rally.
![Jesse Lauriston Livermore Quotes: Never try to sell at Jesse Lauriston Livermore Quotes: Never try to sell at](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-1537039.jpg)
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 Quotes: Disregarding the big swing and Jesse Lauriston Livermore Quotes: Disregarding the big swing and](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-405715.jpg)
A man must study general conditions, to seize them so as to be able to anticipate probabilities.
![Jesse Lauriston Livermore Quotes: A man must study general Jesse Lauriston Livermore Quotes: A man must study general](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-380615.jpg)
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 Quotes: The game of speculation is Jesse Lauriston Livermore Quotes: The game of speculation is](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-430481.jpg)
I began to realize that the big money must necessarily be in the big swing.
![Jesse Lauriston Livermore Quotes: I began to realize that Jesse Lauriston Livermore Quotes: I began to realize that](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-430105.jpg)
A market does not culminate in one grand blaze of glory. Neither does it end with a sudden reversal of form. A market can and does often cease to be a bull market long before prices generally begin to break.
![Jesse Lauriston Livermore Quotes: A market does not culminate Jesse Lauriston Livermore Quotes: A market does not culminate](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-1414120.jpg)
I never argue with the tape. To be angry at the market because it unexpectedly or even illogically goes against you is like getting mad at your lungs because you have pneumonia.
![Jesse Lauriston Livermore Quotes: I never argue with the Jesse Lauriston Livermore Quotes: I never argue with the](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-1312168.jpg)
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 Quotes: I never hesitate to tell Jesse Lauriston Livermore Quotes: I never hesitate to tell](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-42442.jpg)
I cannot fear to be wrong because I never think I'm wrong until I am proven wrong. In fact, I am uncomfortable unless I am capitalizing my experience.
![Jesse Lauriston Livermore Quotes: I cannot fear to be Jesse Lauriston Livermore Quotes: I cannot fear to be](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-49271.jpg)
"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 Quotes: Jesse Lauriston Livermore Quotes:](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-603032.jpg)
When everyone thinks alike, there isn't much thinking taking place. Get out when you can, not when you have to.
![Jesse Lauriston Livermore Quotes: When everyone thinks alike, there Jesse Lauriston Livermore Quotes: When everyone thinks alike, there](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-480771.jpg)
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 Quotes: If I learned all this Jesse Lauriston Livermore Quotes: If I learned all this](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-425152.jpg)
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 Quotes: It isn't a hunch but Jesse Lauriston Livermore Quotes: It isn't a hunch but](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-989833.jpg)
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 Quotes: Speculation is a hard and Jesse Lauriston Livermore Quotes: Speculation is a hard and](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-1323171.jpg)
It is literally true that millions come easier to a trader after he knows how to trade, than hundreds did in the days of his ignorance.
![Jesse Lauriston Livermore Quotes: It is literally true that Jesse Lauriston Livermore Quotes: It is literally true that](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-1520948.jpg)
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 Quotes: Trends come like a series Jesse Lauriston Livermore Quotes: Trends come like a series](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-920097.jpg)
Most people, whether bull or bear, when they are right, are right for the wrong reason, in my opinion.
![Jesse Lauriston Livermore Quotes: Most people, whether bull or Jesse Lauriston Livermore Quotes: Most people, whether bull or](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-1283374.jpg)
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.
![Jesse Lauriston Livermore Quotes: Just remember, without discipline, a Jesse Lauriston Livermore Quotes: Just remember, without discipline, a](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-1000277.jpg)
There are times when you should be completely out of the market, for emotional as well as economic reasons.
![Jesse Lauriston Livermore Quotes: There are times when you Jesse Lauriston Livermore Quotes: There are times when you](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-1150918.jpg)
People who look for easy money invariable pay for the privilege of proving conclusively that it cannot be found on this earth.
![Jesse Lauriston Livermore Quotes: People who look for easy Jesse Lauriston Livermore Quotes: People who look for easy](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-1082510.jpg)
Never buy at the bottom, and always sell too soon.
![Jesse Lauriston Livermore Quotes: Never buy at the bottom, Jesse Lauriston Livermore Quotes: Never buy at the bottom,](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-1275685.jpg)
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.
![Jesse Lauriston Livermore Quotes: Don't take action with a Jesse Lauriston Livermore Quotes: Don't take action with a](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-255601.jpg)
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 Quotes: To anticipate the market is Jesse Lauriston Livermore Quotes: To anticipate the market is](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-676602.jpg)
In a narrow market, when prices are not getting anywhere to speak of but move within a narrow range, there is no sense in trying to anticipate what the next big movement is going to be. The thing to do is to watch the market, read the tape to determine the limits of the get nowhere prices, and make up your mind that you will not take an interest until the prices breaks through the limit in either direction.
![Jesse Lauriston Livermore Quotes: In a narrow market, when Jesse Lauriston Livermore Quotes: In a narrow market, when](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-246471.jpg)
I have always played a lone hand. It is the way my mind works. I have to do my own seeing and my own thinking. But I can tell you that after the market began to go my way I felt for the first time in my life that I had allies - the strongest and truest in the world: underlying conditions. They were helping me with all their might.
![Jesse Lauriston Livermore Quotes: I have always played a Jesse Lauriston Livermore Quotes: I have always played a](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-1057776.jpg)
He really meant to tell them that the big money was not in the individual fluctuations but in the main movements that is, not in reading the tape but in sizing up the entire market and its trend.
![Jesse Lauriston Livermore Quotes: He really meant to tell Jesse Lauriston Livermore Quotes: He really meant to tell](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-563851.jpg)
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 Quotes: Experience has proved to me Jesse Lauriston Livermore Quotes: Experience has proved to me](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-585046.jpg)
My main life lesson from investing: self-interest is the most powerful force on earth, and can get people to embrace and defend almost anything.
![Jesse Lauriston Livermore Quotes: My main life lesson from Jesse Lauriston Livermore Quotes: My main life lesson from](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-144304.jpg)
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.
![Jesse Lauriston Livermore Quotes: Professional traders have always had Jesse Lauriston Livermore Quotes: Professional traders have always had](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-1570593.jpg)
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.
![Jesse Lauriston Livermore Quotes: I did precisely the wrong Jesse Lauriston Livermore Quotes: I did precisely the wrong](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-1235592.jpg)
No one ever went broke by taking a profit.
![Jesse Lauriston Livermore Quotes: No one ever went broke Jesse Lauriston Livermore Quotes: No one ever went broke](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-73400.jpg)
When a man is right he wants to get all that is coming to him for being right.
![Jesse Lauriston Livermore Quotes: When a man is right Jesse Lauriston Livermore Quotes: When a man is right](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-1297288.jpg)
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 Quotes: He will risk half his Jesse Lauriston Livermore Quotes: He will risk half his](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-896637.jpg)
The market does not beat them. They beat themselves, because though they have brains they cannot sit tight.
![Jesse Lauriston Livermore Quotes: The market does not beat Jesse Lauriston Livermore Quotes: The market does not beat](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-1085877.jpg)
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.
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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 Quotes: If I buy stocks on Jesse Lauriston Livermore Quotes: If I buy stocks on](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-920220.jpg)
Don't give me timing, give me time
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If a man is both wise and lucky, he will not make the same mistake twice. But he will make any one of ten thousand brothers or cousins of the original.
![Jesse Lauriston Livermore Quotes: If a man is both Jesse Lauriston Livermore Quotes: If a man is both](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-945771.jpg)
For instance, let us say that a new stock has been listed in the last two or three years and its high was 20, or any other figure, and that such a price was made two or three years ago. If something favorable happens in connection with the company, and the stock starts upward, usually it is safe play to buy the minute it touches a brand new high.
![Jesse Lauriston Livermore Quotes: For instance, let us say Jesse Lauriston Livermore Quotes: For instance, let us say](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-729922.jpg)
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.
![Jesse Lauriston Livermore Quotes: Remember this: When you are Jesse Lauriston Livermore Quotes: Remember this: When you are](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-639379.jpg)
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.
![Jesse Lauriston Livermore Quotes: It is foolhardy to make Jesse Lauriston Livermore Quotes: It is foolhardy to make](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-997202.jpg)
I was utterly free of speculative prejudices. The bear side doesn't appeal to me any more than the bull side, or vice versa. My one steadfast prejudice is against being wrong.
![Jesse Lauriston Livermore Quotes: I was utterly free of Jesse Lauriston Livermore Quotes: I was utterly free of](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-357554.jpg)
There is the plain fool who does the wrong thing at all times anywhere, but there is the Wall Street fool who thinks he must trade all the time.
![Jesse Lauriston Livermore Quotes: There is the plain fool Jesse Lauriston Livermore Quotes: There is the plain fool](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-761282.jpg)
The average man doesn't wish to be told that it is a bull or a bear market. What he desires is to be told specifically which particular stock to buy or sell. He wants to get something for nothing. He does not wish to work. He doesn't even wish to have to think.
![Jesse Lauriston Livermore Quotes: The average man doesn't wish Jesse Lauriston Livermore Quotes: The average man doesn't wish](https://palmquotes.com/author/jesse-lauriston-livermore-quotes-1488189.jpg)