5 Quotes That Stood the Test of Time by Jesse Livermore

Jesse Livermore the legendary trader who’s life was the same as the stock market – A series of ups and downs. From making a fortune in the market to losing everything and eventually his life.

Below are some of his quotes that remains true even in this era.

“Let me warn you that the fruits of your success will be in direct ratio to your honesty and sincerity of your own effort in keeping your own records, doing your own thinking, and reaching your own conclusions.”

As in trading and in life, a factor in any successful endeavour would be the EFFORT to do all things necessary to achieve one’s goal. In the market, you need to have a sense of accountability. When you decide to buy or sell a stock, that action should be solely influenced by your own analysis.

“It never was my thinking that made big money for me. It was always my sitting. Got that? My sitting tight!”

Jesse Livermore always chose stocks that had the path of least resistance. He also prioritised leaders in strong sectors over others.

“Markets are never wrong but opinions often are.”

It doesn’t matter if you studied a company inside and out, if the market shows you that you’re wrong, you get out.

“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. They will die poor.”

The stock market will test you emotionally and mentally. If you’re lazy with your analytics and not true to yourself, this isn’t for you. This field isn’t for the jackpot-get-quick-rich mentality.

“Good speculators always wait and have patience. Waiting for the market to confirm their judgement.”

This is the old saying for this modern quote: Wait for the market to commit to you before you commit to the market.