$Tesla (TSLA.US)$ here are some of Jesse Livermore's most v...

here are some of Jesse Livermore's most valuable trading lessons, translated into English:
* Trade in the direction of the trend.
One of Livermore's most fundamental principles was to always trade in the direction of the prevailing trend. He believed that the market's overall direction was more important than individual price movements, and that traders should align their positions accordingly.
* Let profits run, but cut losses short.
Livermore emphasized the importance of letting profitable trades run their course while cutting losses quickly. He realized that winning trades had the potential to generate significant gains, while losing trades should be limited to minimize overall portfolio damage.
* The market is always right.
Livermore famously stated, "The market is always right." This doesn't mean that every price movement is accurate, but rather that the market reflects the collective wisdom of all participants. Traders should respect the market's direction and avoid trying to outsmart it.
* Know when to quit.
Even the most successful traders experience losses. Livermore understood the importance of recognizing when a trade is not working and exiting it before it inflicts further damage. Emotional detachment from individual trades was crucial for his long-term success.
* Never risk more than you can afford to lose.
Risk management was paramount for Livermore. He never risked more than he could afford to lose, ensuring that a single bad trade couldn't jeopardize his entire portfolio. This principle remains essential for any successful trader.
* Trading is a mental game.
Livermore recognized that trading success hinged not only on technical analysis and market knowledge but also on psychological discipline. He emphasized the importance of controlling emotions, avoiding overtrading, and maintaining a rational mindset.
These timeless trading lessons from Jesse Livermore continue to guide aspiring traders today. By adopting his principles, traders can increase their chances of navigating the complex market landscape and achieving sustainable trading success.