Abandon Quote by Jesse Lauriston Livermore
“Just remember, without discipline, a clear strategy, and a concise plan, the speculator will fall into all the emotional pitfalls of the market - jump from one stock to another, hold a losing position too long, and cut out of a winner too soon, for no reason other than fear of losing profit. Greed, Fear, Impatience, Ignorance, and Hope will all fight for mental dominance over the speculator. Then, after a few failures and catastrophes the speculator may become demoralised, depressed, despondent, and abandon the market and the chance to make a fortune from what the market has to offer.”
About This Quote
Source Book: Reminiscences of a Stock Operator by Edwin Lefèvre, 1923
Without discipline, strategy, and a concise plan, traders succumb to emotional impulses like greed and fear, leading to poor decisions and eventual burnout.
In simple terms: Lack of discipline causes emotional trading and failure.
Key Takeaway
Adopt a disciplined, strategic plan.
Themes
discipline
strategy
emotions
trading
risk management
Mood
cautious
reflective
Type
advice
warning
When to use this quote
- day trading
- long‑term investing
- portfolio rebalancing
- risk assessment
Key Concepts
behavioral finance
psychology of markets
risk control
Questions to Reflect On
- How can you enforce discipline during market swings?
- What safeguards prevent emotional decisions?
A Different Perspective
Even with a plan, market volatility can trigger irrational behavior.
