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. To do this you must study general conditions and not tips or special factors affecting individual stocks.
Jesse Lauriston LivermoreIt never was my thinking that made the big money for me. It always was my sitting.
Jesse Lauriston LivermoreWithout faith in his own judgment no man can go very far in this game. 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 Lauriston LivermoreNever try to sell at the top. It isn't wise. Sell after a reaction if there is no rally.
Jesse Lauriston LivermoreRemember this: When you are doing nothing, those speculators who feel they must trade day in and day out, are laying the foundation for your next venture. You will reap benefits from their mistakes.
Jesse Lauriston Livermore