Showing posts with label Jesse Livermore. Show all posts
Showing posts with label Jesse Livermore. Show all posts

Friday, November 04, 2011

Thoughts on Investing from Jesse Livermore


Thoughts on Investing from Jesse Livermore

Jesse Livermore
Lesson Number One: Cut your losses quickly.

As soon as a trade is contemplated, a trader must know at what point in time he’ll be proven wrong and exit a position. If a trader doesn’t know his exit before he takes the entry, he might as well go to the racetrack or casino where at least the odds can be quantified.

Lesson Number Two:Confirm your judgment before going all in.