The market does not beat them. They beat themselves, because though they have brains they cannot sit tight.
Jesse Lauriston Livermore"If I buy stocks on Smith's tip I must sell those same stocks on Smith's tip. I am depending on him. Suppose Smith is away on a holiday when the selling time comes around?
Jesse Lauriston LivermoreI did precisely the wrong thing. The cotton showed me a loss and I kept it. The wheat showed me a profit and I sold it out. Of all the speculative blunders there are few greater than trying to average a losing game. Always sell what shows you a loss and keep what shows you a profit.
Jesse Lauriston LivermoreIf a man is both wise and lucky, he will not make the same mistake twice. But he will make any one of ten thousand brothers or cousins of the original.
Jesse Lauriston Livermore