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"And right here let me say one thing: After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets.
I’ve known many men who were right at exactly the right time, and began buying and selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine – that is, they made no real money out of it. Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance."
~Jesse Livermore
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"When I’m bearish and I sell a stock, each sale must be at a lower level than the previous sale. When I am buying, the reverse is true. I must buy on a rising scale. I don’t buy long stocks on a scale down, I buy on a scale up."
~Jesse Livermore
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"It took me five years to learn to play the game intelligently enough to make big money when I was right."
~Jesse Livermore
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"If a stock doesn’t act right don’t touch it; because, being unable to tell precisely what is wrong, you cannot tell which way it is going. No diagnosis, no prognosis. No prognosis, no profit."
~Jesse Livermore
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"Experience has proved to me that real money made in speculating has been in commitments in a stock or commodity showing a profit right from the start."
~Jesse Livermore
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"When I buy stocks for a rise I like to pay top prices and when I sell I must sell low or not at all."
~Jesse Livermore
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"From my point of view, the investors are the big gamblers. They make a bet, stay with it, and if all goes wrong, they lose it all."
~Jesse Livermore
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"The market does not beat them. They beat themselves, because though they have brains they cannot sit tight."
~Jesse Livermore
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