My Top Jesse Livermore Quotes For Traders

Based on the life of Jesse Livermore, "Reminiscences of a Stock Operator" is a classic book about trading and investing written by Edwin Lefèvre.

My Top Jesse Livermore Quotes For Traders
Jesse Livermore was a legendary American stock trader and investor born in 1877.

Jesse Livermore was a legendary American stock trader and investor in the early 20th century. Born in 1877, he gained fame for his incredible success in the stock market, as well as his ability to accurately predict market trends.
Livermore is known for making and losing several fortunes during his career. His trading strategies and insights have influenced many traders and investors. Despite his financial successes, Livermore faced personal challenges and struggles, including bankruptcy and depression. He tragically took his own life in 1940.

"Reminiscences of a Stock Operator" is a classic book on trading and investing, written by Edwin Lefèvre. Published in 1923, it's a fictionalized biography loosely based on the life of Jesse Livermore.
The book provides insights into the mindset, strategies, and experiences of a stock trader, chronicling the protagonist's journey through the highs and lows of the stock market.

The narrative is rich with lessons on market psychology, risk management, and the emotional challenges that traders face. Despite being a work of fiction, many consider it a valuable resource for understanding the dynamics of the stock market and gaining perspective on the timeless principles of trading.

Here is a list of the most meaningful quotes from the book.

"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. 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

"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." -Jesse Livermore

"It takes a man a long time to learn all the lessons of all his mistakes. They say there are two sides to everything. But there is only one side to the stock market; and it is not the bull side or the bear side, but the right side." -Jesse Livermore

"Well, you know this is a bull market!” he really meant to tell them that the big money was 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." -Jesse Livermore

"It never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight!" -Jesse Livermore

"Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance." -Jesse Livermore

"The market does not beat them. They beat themselves, because though they have brains they cannot sit tight." -Jesse Livermore

"Disregarding the big swing and trying to jump in and out was fatal to me. 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

"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

"That is about all I have learned—to study general conditions, to take a position and stick to it. I can wait without a twinge of impatience. I can see a setback without being shaken, knowing that it is only temporary." -Jesse Livermore

"It is the big swing that makes the big money for you." -Jesse Livermore

"That is why I repeat that I never argue with the tape." -Jesse Livermore

"I lost because I traded in and out of season, every day, whether or not conditions were right. I wasn’t making that mistake twice." -Jesse Livermore

"The successful trader has to fight these two deep-seated instincts. He has to reverse what you might call his natural impulses. Instead of hoping he must fear; instead of fearing he must hope. He must fear that his loss may develop into a much bigger loss, and hope that his profit may become a big profit. It is absolutely wrong to gamble in stocks the way the average man does." -Jesse Livermore