{"id":9455,"date":"2014-03-11T02:25:49","date_gmt":"2014-03-11T06:25:49","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=9455"},"modified":"2014-03-11T02:25:49","modified_gmt":"2014-03-11T06:25:49","slug":"jesse-livermore-they-say-you-never-go-broke-taking-profits","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2014\/03\/11\/jesse-livermore-they-say-you-never-go-broke-taking-profits\/","title":{"rendered":"Jesse Livermore: They say you never go broke taking profits&#8230;"},"content":{"rendered":"<blockquote><p>&#8230;.I had been bullish from the very start of a bull market, and I had backed my opinion by buying stocks.  An advance followed, as I had clearly foreseen.  So far, all very well.  But what else did I do?  Why, I listened to the elder statesmen and curbed my youthful impetuousness.  I made up my mind to be wise carefully, conservatively. Everybody knew that the way to do that was to take profits and buy back your stocks on reactions.  And that is precisely what I did, or rather what I tried to do; for I often took profits and waited for a reaction that never came.  And I saw my stock go kiting up ten points more and I sitting there with my four-point profit safe in my conservative pocket.  They say you never go broke taking profits.  No, you don\u2019t.  But neither do you grow rich taking a four-point profit in a bull market.<\/p>\n<p>~ Jesse Livermore<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>&#8230;.I had been bullish from the very start of a bull market, and I had backed my opinion by buying stocks. An advance followed, as I had clearly foreseen. So far, all very well. But what else did I do? Why, I listened to the elder statesmen and curbed my youthful impetuousness. I made up &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2014\/03\/11\/jesse-livermore-they-say-you-never-go-broke-taking-profits\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Jesse Livermore: They say you never go broke taking profits&#8230;&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"quote","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[24],"tags":[1947],"class_list":["post-9455","post","type-post","status-publish","format-quote","hentry","category-quotes","tag-jesse-livermore","post_format-post-format-quote"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Jesse Livermore: They say you never go broke taking profits... - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jesse Livermore: They say you never go broke taking profits... - the patient investor\" \/>\n<meta property=\"og:description\" content=\"&#8230;.I had been bullish from the very start of a bull market, and I had backed my opinion by buying stocks. An advance followed, as I had clearly foreseen. So far, all very well. But what else did I do? Why, I listened to the elder statesmen and curbed my youthful impetuousness. 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In Reminiscences of a Stock Operator he describes the impact on financial markets when liquidity dries up: From the latter part of September on, the money market was megaphoning warnings to the entire world.\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Jesse Livermore","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/jesse-livermore.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":13852,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/07\/20\/to-sell-or-not-to-sell-2\/","url_meta":{"origin":9455,"position":1},"title":"To sell or not to sell?","author":"ColinTwiggs","date":"July 20, 2014","format":false,"excerpt":"Recent acquisition Northern Star Resources [NST] in the ASX 200 portfolio is a great example of the conundrum faced by long-term investors when a new stock leaps out of the starting blocks. Profit-taking is evident from the tall shadows\/wicks early in the week and in the decline of 21-day Twiggs\u2026","rel":"","context":"In &quot;Momentum Investing&quot;","block_context":{"text":"Momentum Investing","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/investing\/momentum-investing-2\/"},"img":{"alt_text":"NST","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-07-18-nst-ax.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-07-18-nst-ax.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-07-18-nst-ax.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":17726,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/01\/11\/jesse-livermore-the-wall-street-fool\/","url_meta":{"origin":9455,"position":2},"title":"Jesse Livermore: The Wall Street fool","author":"Colin Twiggs","date":"January 11, 2019","format":"quote","excerpt":"\"What beat me was not having brains enough to stick to my own game \u2013 that is, to play the market only when I was satisfied that precedents favored my play. There is the plain fool, who does the wrong thing at all times everywhere, but there is also the\u2026","rel":"","context":"In &quot;Investor Psychology&quot;","block_context":{"text":"Investor Psychology","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/investing\/investor-psychology\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9370,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/03\/06\/never-argue-with-the-tape\/","url_meta":{"origin":9455,"position":3},"title":"Never argue with the tape","author":"ColinTwiggs","date":"March 6, 2014","format":false,"excerpt":"I daily read predictions of the imminent collapse of stock prices. But ask yourself one question: Is this a bull market or a bear market? CBOE Volatility Index (VIX) is below 15. A prudent speculator never argues with the tape. Markets are never wrong, opinions often are. ~ Jesse Livermore","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"S&P 500","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-03-06-spx.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-03-06-spx.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-03-06-spx.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":13774,"url":"https:\/\/thepatientinvestor.com\/index.php\/2015\/06\/25\/are-us-stocks-really-over-valued-2\/","url_meta":{"origin":9455,"position":4},"title":"Are US stocks really over-valued?","author":"ColinTwiggs","date":"June 25, 2015","format":false,"excerpt":"Let us start with Warren Buffet's favorite market valuation ratio: stock market capitalization to GDP. I have modified this slightly, replacing GDP with GNP, because the former excludes offshore earnings \u2014 a significant factor for multinationals. The ratio of stock market capitalization to GNP now exceeds the highs of 2005\/2006,\u2026","rel":"","context":"In &quot;Market Insights&quot;","block_context":{"text":"Market Insights","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/market-insights\/"},"img":{"alt_text":"US stock market capitalization to GNP","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-06-25-marketcap-gnp.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-06-25-marketcap-gnp.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-06-25-marketcap-gnp.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":11979,"url":"https:\/\/thepatientinvestor.com\/index.php\/2015\/06\/25\/are-us-stocks-really-over-valued\/","url_meta":{"origin":9455,"position":5},"title":"Are US stocks really over-valued?","author":"ColinTwiggs","date":"June 25, 2015","format":false,"excerpt":"Stock Market Capitalization Let us start with Warren Buffet's favorite market valuation ratio: stock market capitalization to GDP. I have modified this slightly, replacing GDP with GNP, because the former excludes offshore earnings \u2014 a significant factor for multinationals. The ratio of stock market capitalization to GNP now exceeds the\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"US stock market capitalization to GNP","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-06-25-marketcap-gnp.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-06-25-marketcap-gnp.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-06-25-marketcap-gnp.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/9455","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=9455"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/9455\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=9455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=9455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=9455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}