How was trading 100 years ago?

[qlai]

Absolutely NO indicators were used.

It so happens, I m re-reading the book as it is my "bible" of trading. How about his Tandem Trading? How about following the leaders? He kept his own detailed records, in effect, creating his own indicators. I know what you mean, just don't want people to take it literally.

I remember him writing one should avoid intraday but why?

All the answers given so far have validity imho. However, transaction costs have fallen drastically and as long as you practice patience, there's nothing wrong applying his methods intra-day.

It's easy to say "oh the big money is with the big moves," but not so easy to make a living capturing them. I don't think Livermore would be able to do that if he didn't make his initial stake from day trading the bucket shops.

 

[aquarian1]

I recently read Jesse Livermore's book "How to trade in stocks". Today, we have data on the prices every seconds, even every milliseconds. How was it in Livermore's times? I remember him writing one should avoid intraday but why? Today we have so much data that one can profit from trend in intraday too.
Did they have less data back then?


Thank you

I haven't read the book you mention but I have read Reminiscences of a Stock Operator and in that he definitely day-traded (as well as longer term positions) himself.

Perhaps he felt with his experience and feel for reading the tape he could - but the public shouldn't.