22 Best Jesse Livermore Quotes on Trading

INVESTOPAPER

Jesse Livermore is one of the the greatest traders of all time. The book written about him “Reminiscences of a Stock Operator” is popular among traders in the present context as well. He not only traded in the stock market but was also highly successful in the commodity market. He made millions and lost millions during his trading career, thereby became bankrupt 3 times forcing him to commit suicide in 1940.

Despite his turbulent life as his trading career, Livermore has more to offer for the average traders. Here are his 22 best quotes on trading.

Best Jesse Livermore Quotes on Trading

1. “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.”

2. “The big money is 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.”

3. “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.”

4. “There is only one side to the stock market; and it is not the bull side or the bear side, but the right side.”

5. “To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.”

6. “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 and does not wish to work. He doesn’t even wish to have to think.”

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

8. “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.”

9. “Play the market only when all factors are in your favor. 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.”

10. “Losing money is the least of my troubles. A loss never troubles me after I take it. I forget it overnight. But being wrong – not taking the loss – that is what does the damage to the pocket book and to the soul.”

11. “The only thing to do when a person is wrong is to be right, by ceasing to be wrong. Cut your losses quickly, without hesitation. Don’t waste time. “

12. “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.”

13. “There is a time to go long, a time to go short and a time to go fishing.”

14. “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.”

15. “Continue with trades that show you a profit and end trades that show a loss.”

16. “What beat me was not having brains enough to stick to my own game.There is the Wall Street fool, who thinks he must trade all the time.”

17. “Never buy a stock because it has had a big decline from its previous high and never sell a stock because it seems high-priced.”

18. “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.”

19. “Profits always take care of themselves but losses never do.”

20. “Set your own rules and stick to them. Never argue with the market. Never make a play you can’t afford. Never give way to irrational exuberance. Above all, don’t be a sucker.”

21. “All a person needs to do is observe what the market is telling him and evaluate it.”

22. “If you have timed the movement correctly, your first commitment will show you a profit at the start.”