Quotes from Jesse Livermore

It isn't as important to buy as cheap as possible as it is to buy at the right time.

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

There is only one side of the market and it is not the bull side or the bear side, but the right side.

The nature of the game as it is played is such that the public should realize that the truth cannot be told by the few who know.

The sucker has always tried to get something for nothing, and the appeal in all booms is always frankly to the gambling instinct aroused by cupidity and spurred by a pervasive prosperity. People who look for easy money invariably pay for the privilege of proving conclusively that it cannot be found on this sordid earth.

A man must know himself thoroughly if he is going to make a good job out of trading in the speculative markets. To know what I was capable of in the line of folly was a long educational step. I sometimes think that no price is too high for a speculator to pay to learn that which will keep him from getting the swelled head.

A man cannot be convinced against his own convictions, but he can be talked into a state of uncertainty and indecision, which is even worse, for that means that he cannot trade with confidence and comfort.

If you have timed the movement correctly, your first commitment will show you a profit at the start.

It has always been my experience that I never benefited much from a move if I did not get in at somewhere near the beginning of that move.

if you are successful, most people are envious and they covet your success

Money in a broker's account or in a bank account is not the same as if you feel it in your own fingers once in a while. Then it means something.

if there was any easy money lying around, no one would be forcing it into your pocket.

If a man didn't make mistakes he'd own the world in a month. But if he didn't profit by his mistakes he wouldn't own a blessed thing

If you have timed the movement correctly, your first commitment will show you a profit at the start. From then on, all that is required of you is to be alert, watching for the appearance of the danger signal to tell you to step aside and convert paper profits into real money.

All a person needs to do is observe what the market is telling him and evaluate it.

Profits always take care of themselves but losses never do.

Old Baron Rothschild's recipe for wealth winning applies with greater force than ever to speculation. Somebody asked him if making money in the Bourse was not a very difficult matter and he replied that, on the contrary, he thought that it was very easy… "I will tell you my secret if you wish. It is this: I never buy at the bottom and I always sell too soon.

There is only one side of the market and it is not the bull side or the bear side, but the right side.

A loss never bothers me after I take it. I forget it overnight. But being wrong - not taking the loss - that is what does damage to the pocketbook and to the soul.