Some Misunderstandings of Jesse Livermore's Timing

Livermore always considered time as a real and essential trading element. He often said: “It’s not the thinking that makes the money—it’s the sitting and waiting that makes the money.”

But this often has been incorrectly interpreted by many people. They thought Livermore would buy a stock and then sit and wait for it to move. This is completely not so. What he really meant was there were many occasions when he should sit and wait in cash, until the right situation appeared. 

When all these conditions came together and when as many of the odds as possible were in his favor, then and only then, like a sniper, he would pull the trigger, usually with great result.

After triggering, if everything did as normal as it should be, Jesse would never consider sell until something abnormal appear.

The hardest part of his timing is patience. If you want to achieve great accomplishments, you must learn to be very patient, wait for the opportunity come to you.