Jesse Livermore Quotes
226 Jesse Livermore Quotes
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Their speciality was trimming suckers who wanted to get rich quick.
Jesse Livermore
One chap I met did tell me a story about seeing six hundred telegrams go out one day advising customers to get aboard a certain stock and six hundred to other customers strongly urging them to sell that same stock, at once.
Jesse Livermore
They figured that the more I did the more I’d lose, and the more quickly I was wiped out the more they’d make. It was a sound enough theory when you consider that these people necessarily dealt with averages and the average customer was never lon-lived, financially speaking.
Jesse Livermore
A busted customer can’t trade. A half-crippled customer can whine and insinuate things and make trouble of one or another kind that hurts business.
Jesse Livermore
It was a game that I could beat, and I did. I never got it down to such a fine point that I could win ten times out of ten; but I won on balance, take it week in and week out.
Jesse Livermore
There were times when my plans went wrong and my stocks did not run true to form, but did the opposite of what they should have done if they had kept up their regard for precedent. But they did not hit me very hard – they couldn’t, with my shoestring margins.
Jesse Livermore
They always had the hope of getting away from me what I had taken from them. They regarded my winnings as temporary loans, I think.
Jesse Livermore
Since suckers always lose money when they gamble in stocks – they never really speculate – you’d think these follows would run what you might call a legitimate illegitimate business. But they don’t.
Jesse Livermore
Copper your customers, and grow rich.
Jesse Livermore
The beauty of doing business with a crook is that he always forgives you for catching him, so long as you don’t stop doing business with him. It’s all right as far as he is concerned. He is willing to meet you more than halfway. Magnanimous souls!
Jesse Livermore
For a customer to lose money at his brokers is no rare event. But for a customer to make money and then not get it is the worst crime on the speculators’ statute books.
Jesse Livermore
More pocket money than anybody could spend was what the stock market yearned to yield.
Jesse Livermore
We left him talking to himself. He probably didn’t mind the money so much. No professional gambler does. It’s all in the game and the luck’s bound to turn. It was his being fooled in us that hurt his pride.
Jesse Livermore
When I couldn’t play according to my system, which was based on study and experience, I went in and gambled. I hoped to win, instead of knowing that I ought to win on form.
Jesse Livermore
There is nothing like losing all you have in the world for teaching you what not to do.
Jesse Livermore
When you know what not to do in order not to lose money, you begin to learn what to do in order to win. You begin to learn!
Jesse Livermore
The average tick hound – or, as they used to call him, tape-worm – goes wrong, I suspect as much from overspecialisation as from anything else. It means a highly expensive inelasticity. After all, the game of speculation isn’t all mathematics or set rules, however rigid the main laws may be.
Jesse Livermore
There is what I call the behaviour of a stock, actions that enable you to judge whether or not it is going to proceed in accordance with the precedents that your observation has noted. If a stock doesn’t act right don’t touch it, because, being unable to tell precisely what is wrong, you cannot tell which way it is going.
Jesse Livermore
No diagnosis, no prognosis. No prognosis, no profit.
Jesse Livermore
The average chart reader is apt to become obsessed with the notion that the dips and peaks and primary and secondary movements are all there is to stock speculation. If he pushes his confidence to it’s logical limit he is bound to go broke.
Jesse Livermore
All a man needs to know to make money is to appraise conditions.
Jesse Livermore
I know now what I did not know then, and I think of the mistakes of my ignorance because those are the very mistakes that the average stock speculator makes year in and year out.
Jesse Livermore
I can see now that my main trouble was my failure to grasp the vital difference between stock gambling and stock speculation.
Jesse Livermore
Some me, like old Russell Sage, have the money-making and the money hoarding instinct equally well developed, and of course they die disgustingly rich.
Jesse Livermore
The more I made the more I spent.
Jesse Livermore
I had to study what was going to happen; to anticipate stock movements. That sounds asininely commonplace, but you know what I mean.
Jesse Livermore
It was the change in my own attitude toward the game that was of supreme importance to me. It taught me, little by little, the essential difference between betting on fluctuations and anticipating inevitable advances and declines, between gambling and speculating.
Jesse Livermore
I had to go further back than an hour in my studies of the market. Which is something I never would have learned to do.
Jesse Livermore
I never thought that anything was irksome if it helped me to trade more intelligently.
Jesse Livermore
Before I can solve a problem I must state it to myself. When I think I have found the solution I must prove that I am right. I know of only one way to prove this; and that is, with my own money.
Jesse Livermore
There was as much to learn from partial victory as from defeat.
Jesse Livermore
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.
Jesse Livermore
Where I should have made twenty thousand dollars I made two thousand. That was what my conservatism did for me.
Jesse Livermore
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 big money for me. It was always my sitting.
Jesse Livermore
I’ve known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine – that is, they made no real money out of it.
Jesse Livermore
Men who can be right and sit tight are uncommon. I found it one of the hardest things to learn.
Jesse Livermore
The market does not beat them. They beat themselves, because though they have brains they cannot sit tight.
Jesse Livermore
Nobody can catch all the fluctuations.
Jesse Livermore
In a bull market your game is to buy and hold until you believe that the bull market is near it’s end. To do this you must study general conditions and not tips or special factors affecting individual stocks. Then get out of all your stocks; get out for keeps!
Jesse Livermore
One of the most helpful things that anybody can learn is to give up trying to catch the last eight – or the first. These two are the most expensive eights in the world. They have costs stock traders, in the aggregate, enough millions of dollars to build a concrete highway across the continent.
Jesse Livermore
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