If you do not know who Jesse Livermore, he is one of the most legendary traders who has ever lived. Below are 9 trading secrets that he lived and died by, so let's take a moment to learn from one of the greats!
- “Money is made by sitting, not trading.”
- “It takes time to make money.”
- “It was never my thinking that made the big money for me, it always was sitting.”
- “Nobody can catch all the fluctuations.”
- “The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money everyday, as though they were working for regular wages.”
- “Buy right, sit tight.”
- “Men who can both be right and sit tight are uncommon.”
- “Don’t give me timing, give me time.”
- “There is a time for all things, but I didn’t know it. And that is precisely what beats so many men in Wall Street who are very far from being in the main sucker class. There is the plain fool, who does the wrong thing at all times everywhere, but there is the Wall Street fool, who thinks he must trade all the time. Not many can always have adequate reasons for buying and selling stocks daily – or sufficient knowledge to make his play an intelligent play.”
Do you have balls?
Post in the Group Chat which secret caught you most by surprise.
POST IN THE GAME PLANNING CHAT