Livermore Quotes

Livermore was a famous stock trader, and his quotes reflect his deep understanding of market behavior and unique insights into speculative trading. Here are some representative quotes from Livermore:

Patience in Waiting: "I trade in my own system, not by buying and selling a favorite stock or supporting any viewpoint. Having my own mind to do the right thing is all the fun I have."

Market Trends: "Stock prices always move along the line of least resistance."

Risk Management: "Frequent trading (daily or weekly operations) is the play of losers and will not achieve much success."

From Macro to Micro: "There are many opportunities to profit from trading stocks, but sometimes it is better to refrain from acting and do nothing."

Psychological Control: "What drives the stock market is not reason, logic, or purely economic factors; it is the unchanging nature of people."

Learning and Discipline: "If a person wants to make a living in this game, he must believe in himself and his judgment."

Going with the Trend: "Entering during a rising market is the safest way to buy stocks."

Learning from Mistakes: "If a person does not make mistakes, he could own the whole world within a month, but if he cannot learn from his mistakes, he cannot gain wealth."

Emotional Control: "Speculation is a tough and constantly trial-and-error job; speculators must always be engaged in their work, or they will have nothing to do."

Patience and Timing: "I must spend far more than an hour studying market trends, which is something I cannot learn in the largest betting houses in the world."

These quotes not only showcase Livermore's keen insights into market dynamics but also reveal his psychological and strategic elements in trading, providing guidance and inspiration for learning and understanding the workings of financial markets.