Classical Quotations of Jesse Livermore (3)

No. 6

By the way, whenever I lose patience, trying to make a quick money by disorderly trading, instead of waiting for the key point to come, I always lose money.

Care about doing things right, not about making money.

Buying at the right time is more important than buying as cheap as possible.

If you want to play this game, you must trust yourself and trust your own judgment.

My rule is to predict those things that are going to happen from big environment.

Sure losses will not annoy me, but if I can't stop loss in time, that will do real harm to wealth and spirit.

In the stock market, there are no long side or short side, only the right side.

Ordinary people don't want to be told whether this is a bull market or a bear market. They just want to know which stock to buy and which one to sell. They want to gain without paying anything, and don't even want to think about it.

It’s obvious that you can't sell your stocks unless someone is willing to buy yours, especially when you're doing big deals. Always remember that!

No.7

Speculation is the thoroughly most magical game in the world. However, stupid people, lazy people and mentally unsound people are not able to play this game, and adventurers who want to get rich overnight also can’t play this game.

The key to making a lot of money is not how I think, but how I can sit still, sit still, do you understand? In the stock industry, there are very few people who can buy the right one and sit still. I find this is the most difficult thing to learn. It is fatal to ignore the general trend and stick to the small fluctuation of the stock. No one can catch all the fluctuation. The secret of this business is to buy stocks in a bull market and sit still until you think the bull market is almost over.