Classical Quotations of Jesse Livermore (2)

No.3

Every coin has two sides, but the stock market has only one. It is neither rising nor falling, but operating correctly.

There's only one thing that makes me admit a mistake, that's losing money. And only by making money can prove that I am right.

There's nothing like being left with nothing that can teach you to know what you shouldn't do. When you understand what you shouldn't do if you don't want to lose money, you have already begun to learn how to make money.

It's very rare for people to be able to judge correctly and sit tightly at the same time. I realize it is one of the hardest things to learn. But a stock trader can make a lot of money only if he has a firm grasp of this skill.

I have only one prejudice, it is firmly against making mistakes.

I won't argue with the market. Because the market is not what you expect, or even against you illogically, it makes you angry, just like you blame your lung for pneumonia.

In this game, what can really give you stable dividend is experience, and what can really give you reliable information is observation.

People always want to be comfortable and believe in things that make them happy.

No.4

There is nothing new on Wall Street or in stock speculation. What happened in the past will happen again and again in the future. This is because human nature will not change. The emotions that based on human nature will make people stupid. I believe in that.

Bull and Bear can both make money, but pigs will be killed.

No. 5

Being full of hope is one of the salient features of human beings, and being full of fear is another one. However, once you involve the emotions of hope and fear in speculation, and you will face extremely terrible dangers, because you will be confused by two emotions, thus turning them upside down- when you are supposed to be afraid, you are full of hope; but when you are supposed to be full of hope, you are terribly afraid.