Jesse Livermore Quotes – Shocking & Little Known Words of Wisdom
Jesse Livermore Quotes For Stock Market Wisdom
Jesse Livermore was born on July 26, 1877, in Shrewsbury, Massachusetts. He is well-known for his trading style and his story of rising from humble beginnings to become one of the most successful traders of his generation.
His life story also tells us about the dark side of stock market trading, although he became one of the richest people in world at one time he was also suffered huge loss and due to ever increasing debt he committed suicide on 28th 1940
He is also the main character of Reminiscences of a Stock Operator, a best-selling book by Edwin Lefèvre.
His trading style and technical analysis techniques were very unique and made him very wealthy in a very short period of time; his trading wisdom continues to inspire many.
Jesse Livermore Inspirational Quotes
“A man must believe in himself and his judgment if he expects to make a living at this game. That is why I don’t believe in tips.”
“When a man is right he wants to get all that is coming to him for being right.”
“There is nothing like losing all you have in the world for teaching you what not to do. And when you know what not to do in order not to lose money, you begin to learn what to do in order to win. Did you get that? You begin to learn!”
Jesse Livermore
“I never allowed pleasure to interfere with business.”
“A trader gets to play the game as the professional billiard player does—that is, he looks far ahead instead of considering the particular shot before him. It gets to be an instinct to play for position.”
“ There are certain chances that the most prudent man is justified in taking—chances that he must take if he wishes to be more than a mercantile mollusk”
“ It’s the guessing that develops a man’s brain power. Just consider what you have to do to guess right.”
“ All my life I have made mistakes, but in losing money I have gained experience and accumulated a lot of valuable don’ts.”
Jesse Livermore Quotes For Stock Market Trading
“It takes a man a long time to learn all the lessons of his mistakes. They say there are two sides to everything. But there is only one side to the stock market; and it is not the bull side or the bear side, but the right side.”
Jesse Livermore
“I have heard of people who amuse themselves conducting imaginary operations in the stock market to prove with imaginary dollars how right they are.”
“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 Livermore
“I have been flat broke several times, but my loss has never been a total loss. Otherwise, I wouldn’t be here now”
“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.”
“No person can play the market all the time and win. There are times when you should be completely out of the market, for emotional as well as economic reasons.”
Jesse Livermore
“I can’t tell you how it came to take me so many years to learn that instead of placing piking bets on what the next few quotations were going to be, my game was to anticipate what was going to happen in a big way.”
“He must fear that his loss may develop into a much bigger loss, and hope that his profit may become a big profit. It is absolutely wrong to gamble in stocks the way the average man does.”
Jesse Livermore
“I don’t know whether I make myself plain, but I never lose my temper over the stock market. I never argue with the tape. Getting sore at the market doesn’t get you anywhere.”
Jesse Livermore
“ But not even a world war can keep the stock market from being a bull market when conditions are bullish, or a bear market when conditions are bearish. And all a man needs to know to make money is to appraise conditions.”
“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.”
“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 Livermore
“I think it was a long step forward in my trading education when I realized at last that when old Mr. Partridge kept on telling the other customers, “Well, you know this is a bull market!” 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 Livermore
“A man may see straight and clearly and yet become impatient or doubtful when the market takes its time about doing as he figured it must do.”
Jesse Livermore
“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.”
Jesse Livermore
“To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.”
Jesse Livermore
“ Obviously the thing to do was to be bullish in a bull market and bearish in a bear market. Sounds silly, doesn’t it? But I had to grasp that general principle firmly before I saw that to put it into practice really meant to anticipate probabilities.”
“For years I had been the victim of an unfortunate combination of inexperience, youth and insufficient capital.”
“The recognition of our own mistakes should not benefit us any more than the study of our successes. But there is a natural tendency in all men to avoid punishment.”
“Money does not give a trader more comfort, because, rich or poor, he can make mistakes and it is never comfortable to be wrong.”
“A loss never bothers me after I take it. I forget it overnight. But being wrong—not taking the loss—that is what does the damage to the pocketbook and to the soul.”
“ It does not take a reasonably young and normal man very long to lose the habit of being poor. It requires a little longer to forget that he used to be rich.”
“After a man makes money in the stock market he very quickly loses the habit of not spending. But after he loses his money it takes him a long time to lose the habit of spending”
“Nobody should be puzzled as to whether a market is a bull or a bear market after it fairly starts. The trend is evident to a man who has an open mind and reasonably clear sight, for it is never wise for a speculator to fit his facts to his theories. Such a man will, or ought to, know whether it is a bull or a bear market, and if he knows that he knows whether to buy or to sell”
“A speculator must concern himself with making money out of the market and not with insisting that the tape must agree with him. Never argue with it or ask it for reasons or explanations. Stock-market postmortems don’t pay dividend”
“The weaknesses that all men are prone to are fatal to success in speculation—usually those very weaknesses that make him likable to his fellows or that he himself particularly guards against in those other ventures of his where they are not nearly so dangerous as when he is trading in stocks or commodities.”
“A man may beat a stock or a group at a certain time, but no man living can beat the stock market! “
“I had learned a great deal about the game of stock speculation, but I had not learned quite so much about the play of human weaknesses.”
“ A man must know himself thoroughly if he is going to make a good job out of trading in the speculative markets.”
“ Life itself from the cradle to the grave is a gamble and what happens to me because I do not possess the gift of second sight I can bear undisturbed.”
“Tips! How people want tips! They crave not only to get them but to give them. There is greed involved, and vanity.”
Jesse Lauriston Livermore Final Words
It is very unfortunate for trading world that Jesse shot himself on November 28, 1940, his words of wisdom are inspiration to many traders and market wizards who came after him and make money in stock market.
His last words were addressed to his wife Harriet ( Nina) and were –
“My dear Nina: Can’t help it. Things have been bad with me. I am tired of fighting. Can’t carry on any longer. This is the only way out. I am unworthy of your love. I am a failure. I am truly sorry, but this is the only way out for me. Love Laurie”
Learn More – Jesse Livermore Bio
Jesse Livermore is among chosen price action traders who made tape reading famous and made fortune by reading price action.
