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Mastering the Market: Timeless Quotes from Jesse Livermore

“The stock market is never obvious. It is designed to fool most of the people, most of the time.”

– Jesse Livermore

“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.”

– Jesse Livermore

“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 Livermore

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

– Jesse Livermore

A battle goes on in the stock market and the tape is your telescope. You can depend upon it seven out of ten cases

– Jesse Livermore

“A man must know himself thoroughly if he is going to make a good job out of trading in the speculative markets.”

– Jesse Livermore

“A stock operator has to fight a lot of expensive enemies within himself.”

– Jesse Livermore

“Speculators buy the trend; investors are in for the long haul; “they are a different breed of cats.”

– Jesse Livermore

It never was my thinking that made me the big money for me. It always was my sitting. Got That ?

– Jesse Livermore

“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.” 

– Jesse Livermore

“The market does not beat them. They beat themselves, because though they have brains they cannot sit tight.”

– Jesse Livermore

“Fear and hope remain the same; therefore the study of the psychology of speculators is as valuable as it ever was”

– Jesse Livermore

… “But can you snap the stem of the wineglass while the wineglass is pointing a loaded pistol straight at your heart?”

– Jesse Livermore

“The only thing to do when a person is wrong is to be right, by ceasing to be wrong.”

– Jesse Livermore

“I made money by sitting, not thinking.”

– Jesse Livermore

“There is a time for all things, but I didn’t know it. And that is precisely what beats so many men in Wall Street.”

– Jesse Livermore

“The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street.”

– Jesse Livermore

“There is no asphalt boulevard to success in Wall Street or anywhere else. Why additionally block traffic?

– 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

“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

“A loss never bothers me after I take it. I forget it overnight. But being wrong, not taking the loss, that is what does damage to the pocketbook and to the soul.”

– Jesse Livermore

“Do not anticipate and move without market confirmation—being a little late in your trade is your insurance that you are right or wrong.”

– Jesse Livermore

“No man can always have adequate reasons for buying or selling stocks daily – or sufficient knowledge to make his play an intelligent play.”

– Jesse Livermore

“Remember, when you are buying, you are buying from someone who thinks it’s time to sell. And when you are selling, you are selling to someone who thinks it’s time to buy.”

– Jesse Livermore

“A man must believe in himself and his judgment if he expects to make a living at this game”

– 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”

– Jesse Livermore

“The stock market is never obvious. It is designed to fool the majority.”

– Jesse Livermore

“The stock market does not understand hope, fear, or regrets. It only understands one thing – price.”

– Jesse Livermore

“Markets are never wrong, opinions often are.”

– Jesse Livermore

“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”

– Jesse Livermore

“The stock market is not a get-rich-quick scheme. It is a place where wealth is transferred from the impatient to the patient.”

– Jesse Livermore

“To be consistently successful, you must be cold-blooded and absolutely impersonal. You must think only of the facts of the situation and of your own trading rules.”

– Jesse Livermore

“If the unusual never happened there would be no difference in people and then there wouldn’t be any fun in life. The game would become merely a matter of addition and subtraction. It would make of us a race of bookkeepers with plodding minds. It’s the guessing that develops a man’s brain power.”

– Jesse Livermore

“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”

– Jesse Livermore

“Cutting losses is the most important single investment rule. Without taking small losses, you will be unable to take large gains.”

– Jesse Livermore

“The big money is made by the sittings, not the thinkings.”

– Jesse Livermore

“It never was my thinking that made big money for me. It always was my sitting.”

– Jesse Livermore

“The market does not beat them. They beat themselves.”

– Jesse Livermore

“Don’t give me timing, give me time.”

– Jesse Livermore

“The stock market is a game of probabilities, not certainties.”

– Jesse Livermore

“Successful trading is always an emotional battle for the speculator, not an intelligent battle.”

– Jesse Livermore

“The stock market is never too high for you to begin buying or too low to begin selling.”

– Jesse Livermore

“Men who can both be right and sit tight are uncommon.”

– Jesse Livermore

“It’s not the news that matters; it’s how the market reacts to the news.”

– Jesse Livermore

“The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street.”

– Jesse Livermore

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

– Jesse Livermore

“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

“The stock market is a place to transfer money from the impatient to the patient.”

– Jesse Livermore

“Do not make trading decisions based on hope or fear; base them on logic and analysis.”

– Jesse Livermore

“The goal of a successful trader is to make the best trades. Money is secondary.”

– Jesse Livermore

“It takes time to make money in the market. Quick profits are the result of luck, not skill.”

– Jesse Livermore

“A man may beat a stock or a group at a certain time, but no man living can beat the stock market! “

– Jesse Livermore

“The stock market is like a beautiful woman; enticing, seductive, and constantly changing her mind.”

– Jesse Livermore

“The real money in investing will have to be made—as most of it has been in the past—not out of buying and selling, but out of owning and holding securities, receiving interest and dividends, and benefiting from their long-term increase in value.”

– Jesse Livermore

“The market is always right. Traders are often wrong.”

– Jesse Livermore

“It is not the thinking that makes big money for me. It is the sitting.”

– Jesse Livermore
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