Absorb timeless market wisdom with the pithy words from these giants of the world of trading.
Jesse Livermore
“There is no magic about success in the stock market. The only way I know for anyone to succeed in his investment is for him to investigate before he invests; to look before he leaps; to stick to fundamentals and disregard everything else.”ใ Jesse Livermore’s Methods of Trading in Stocks By Richard Wyckoff
“In selecting securities it is only necessary for an investor to determine which industries are in the strongest position, which are less strong and which are comparitively weak, very weak, etc.” ใ Jesse Livermore’s Methods of Trading in Stocks By Richard Wyckoff
“Essentials to stock market success are knowledge and patience. So few people succeed in the market because they have no patience. They want to get rich quickly. They are not willing to buy when a thing goes down, and wait. They buy mostly when a thing is going up, and near the top. In the long run patience counts more than any other element except knowledge.” ใ Jesse Livermore’s Methods of Trading in Stocks By Richard Wyckoff
“Think in terms of the industrial outlook; choose the strongest company in the strongest industry, and do not buy stocks on hope alone. The only time to buy is when you know they will go up.” ใ Jesse Livermore’s Methods of Trading in Stocks By Richard Wyckoff
“The real news is not in the headline. One must seek it elsewhere. Ability to foresee conditions that will prevail in the future is absolutely essential.” ใ Jesse Livermore’s Methods of Trading in Stocks By Richard Wyckoff
“Another lesson I learned early is that there is nothing new on Wall Street. There can’t be because speculation is as old as the hills. What happens in the stock market today has happened before and will happen again.” ใ Larry Livingston (Jesse Livermore) in Reminiscences of a Stock Operator By Edwin Lefรจvre
“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” ใ Larry Livingston (Jesse Livermore) in Reminiscences of a Stock Operator By Edwin Lefรจvre
“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!” ใ Larry Livingston (Jesse Livermore) in Reminiscences of a Stock Operator By Edwin Lefรจvre
“What beat me was not having brains enough to stick to my own game — that is to play the market only when I was satisfied that precedents favored my play. 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 who are very far from being in the main sucker class. There is the plain fool, who does the wrong thing at all times everywhere, but there is the Wall Street fool, who thinks he must trade all the time.” ใ Larry Livingston (Jesse Livermore) in Reminiscences of a Stock Operator By Edwin Lefรจvre
“The desire for constant action irrespective of underlying conditions is responsible for many losses in 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.” ใ Larry Livingston (Jesse Livermore) in Reminiscences of a Stock Operator By Edwin Lefรจvre
“And right here let me say one thing: 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 was always my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and bears in bear markets. 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. Men who can both be right and sit tight are uncommon.” ใ Larry Livingston (Jesse Livermore) in Reminiscences of a Stock Operator By Edwin Lefรจvre