Pride : Never Argue With The Market

"I never try to predict or anticipate. I only try to react to what the market is telling me by its
behavior."

"Losing money is the least of my troubles. A loss never troubles me after I take it. I forget it
overnight. But being wrong – not taking the loss – that is what does the damage to the pocket book
and to the soul."

"There is only one side of the market and it is not the bull side or the bear side, but the right side."

"…the market will often go contrary to what speculators have predicted. At these times, successful
speculators must abandon their predictions and follow the action of the market. Prudent
speculators never argue with the tape. Markets are never wrong, but opinions often are."

"Markets are never wrong, opinions are."

"A prudent speculator never argues with the tape."


- Jesse Livermore




Pride : Never argue with the market.