Livermore: The hardest part isn't buying and selling, it's staying on the sidelines


#投资 #HumanNature

The most impressive thing about Livermore isn't when he enters the market — but when he chooses not to.

When he was young, he lost a lot of money, all because he placed heavy bets when he shouldn't have.

Later, he learned to wait — wait for the most confident opportunities to appear, wait for the market to give clear signals.

People with cash on hand are the ones qualified to wait for opportunities.

People with all their positions in the market can only be pushed along by the market.

Why is staying on the sidelines so difficult?

Because the anxiety of being out of the market is more uncomfortable than the anxiety of holding a position.

The anxiety of holding a position is "What if I lose?"

The anxiety of being out of the market is "What if it rises and I miss out?"

The latter is the true test of human nature — missing out feels worse than being trapped, but mature traders know, it's better to miss out than to get caught.
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