Jesse Livermore Quotes

If you really want to learn about human psychological behavior. Study the stock market. A lot of people think that making money on the stock is all about market predictions and knowing the latest news.

If you currently/were investing in stocks, you found out that the most important factor of success is mainly your own self-control and your insight in market psychology.

I learned so much about myself when i was trading on the stock market years ago (and I haven't played it since then). I was reading several quotes by Jesse Livermore from a book that every investor should read, "Reminiscences Of A Stock Operator".

Here are a few golden quotes:

“If I hadn’t made money some of the time I might have acquired market wisdom quicker.”

This is so true. Important life lesson is learnt best when they cause pain or discomfort.

“There is nothing like losing all you have in the world for teaching you what not to do. And when you know what not to do in order not to lose money, you begin to learn what to do in order to win. Did you get that? You begin to learn!”

This is a very, very true. This applies to the stock market as well in anything in life. When you lose everything, it makes you smarter - you already know what to do to avoid being in the same situation.

“A stock operator has to fight a lot of expensive enemies within himself.”

Ouch. When I lose big, I lose self control - which means i going to gamble more- that means i going to throw away all my winning. Trying to fight your internal demons is damn hard.

“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. It took me longer to get that general principle fixed firmly in my mind than it did most of the more technical phases of the game of stock speculation.”

Wow! A great quote. With all these quotes, it can be applied in life as well.