It was forced to live in the oceans because Jormungardr was one of the 3 forbidden children of Loki predicted to be involved in Ragnarok. Fenrir was chained up, Hel was banished to be the lord of the lad beneath the roots of Yggdrasil (Called Hel usually), Jormungardr was banished to the oceans of Midgard, where his huge size meant he could wrap round the entire world and bite his own tail.
'Success rates are but scientific theory. A brave heart will defy any odds!' 'Don't beg for things, do it yourself or else you won't get anything.'