Jesse Livermore Story

Jesse Livermore was born in 1877 and began his trading career at the tender age of 15. He quickly made a name for himself as a shrewd trader, profiting off stocks and commodities like wheat, cotton, and copper. After having success with his own investments, he became a professional stock market speculator and even founded his own investment firm in 1906.

Livermore made and lost several fortunes throughout his career, often taking huge risks to make a profit. His biggest success came after the Panic of 1907, when he bet that stocks on Wall Street would eventually recover from the crash – a move which earned him over $1 million in profits.

However, despite his successes, Livermore’s luck eventually ran out. In the 1920s he made several unsuccessful investments which caused him to lose most of his fortune. He committed suicide in 1940, at the age of 63.

Livermore’s story has become an inspiration for many aspiring traders and investors, providing a cautionary tale about the risks associated with trading on Wall Street.

Jesse Livermore’s life was unofficially documented in Edwin Lefevre’s 1923 book Reminiscences of a Stock Operator, which focused on the philosophy and trading techniques of a stock trader by the name of “Larry Livingston”, which left nobody in doubt as to who it was really about.

The book became an instant hit and remains a go-to trading bible for many today. No doubt inspired by its success, Livermore himself released his own book 17 years later, How to Trade In Stocks, and noted his 21 Rules of Trading.

Jesse Livermore Quotes

Nothing new ever occurs in the business of speculating or investing in securities and commodities.

Jesse Livermore

Money cannot consistently be made trading every day or every week during the year.

Jesse Livermore

Don’t trust your own opinion and back your judgment until the action of the market itself confirms your opinion.

Jesse Livermore

Markets are never wrong – opinions often are.

Jesse Livermore

The real money made in speculating has been in commitments showing in profit right from the start.

Jesse Livermore

As long as a stock is acting right, and the market is right, do not be in a hurry to take profits.

Jesse Livermore

One should never permit speculative ventures to run into investments.

Jesse Livermore

The money lost by speculation alone is small compared with the gigantic sums lost by so-called investors who have let their investments ride.

Jesse Livermore

Never buy a stock because it has had a big decline from its previous high.

Jesse Livermore

Never sell a stock because it seems high-priced.

Jesse Livermore

I become a buyer as soon as a stock makes a new high on its movement after having had a normal reaction.

Jesse Livermore

Never average losses.

Jesse Livermore

The human side of every person is the greatest enemy of the average investor or speculator.

Jesse Livermore

Wishful thinking must be banished.

Jesse Livermore

Big movements take time to develop.

Jesse Livermore

It is not good to be too curious about all the reasons behind price movements.

Jesse Livermore

It is much easier to watch a few than many.

Jesse Livermore

If you cannot make money out of the leading active issues, you are not going to make money out of the stock market as a whole.

Jesse Livermore

The leaders of today may not be the leaders of two years from now.

Jesse Livermore

Do not become completely bearish or bullish on the whole market because one stock in some particular group has plainly reversed its course from the general trend.

Jesse Livermore

Few people ever make money on tips. Beware of inside information. If there was easy money lying around, no one would be forcing it into your pocket.

Jesse Livermore

Jesse Livermore FAQ