The Thirteen Commandments - Gospels from Jesse Livermore
- Never act on tips.
- Never buy a stock because it has had a big decline from its previous high.
- 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.
- Don't blame the market for your losses.Never add to a losing position. A losing position means you were wrong.
- Stocks are never too high for you to begin buying or too low to begin selling. But after the initial transaction, don't make a second unless the first shows you a profit.
- Always sell what shows you a loss and keep what shows you a profit.
- Don't argue with the tape. Do not seek to lure the profit back. Quit while the quitting is good--and cheap.
- There is only one side to the stock market; and it is not the bull side or the bear side but the right side.
- The speculator's chief enemies are always boredom from within.
- A man must believe in himself and his judgment if he expects to make a living at this game.
- Bulls and bears make money, but pigs get slaughtered
- Markets are never wrong. Opinions are!