Is Jessie Livermore trading still work with internet ?

I'd say yes. He made a bazillion, back when a bazillion was worth somethin'. Then he lost it (a couple times?) and killed himself. So yeah, crazy trading is still in force!

Still, in my IMHO there are some good lessons in Reminiscences.
 
His trading philosophy according to the writeup:

Money is not made in day trading on price fluctuations.

Adopt a buy-and-hold strategy in a bull market and sell when it loses momentum.

Study the fundamentals of a company, the market and the economy. Livermore separated successful investors from unsuccessful investors by the level of effort they put into investing

Investors who focus on the short term eventually lose their capital.
More...
So he is fundamentally an investor and not a trader?
 
What has changed? JL used price (OHLC), volume, and behavioral finance. None of that has changed. One difference however is the removal of in the moment experiential characteristics. The sights, the sounds, the facial expressions, the first-hand witness of behavior associated with time, place, and movement.

The mini-doc you posted clearly pointed out JL's time tested "rules". And the rules presented are not about a specific trading technique or type of analysis. They are about discipline.

Population growth, accessibility to technology, and government regulation (interference) aside, the internet is the modern day equivalent of the telegraph.
 
Don't confuse the concept with application. His concepts are timeless, adopting them to your style and learning to execute it real time is another matter.

jesse-livermore-wall-street-never-changes.jpg
 
Funny thing, from 4 investments books that i ordered, this one never arrived, i thought i made a mistake when ordering, but it was their mistake, whatever, gona get english version.

Any recommendetions on a ,,must'' type for trading books, would be appreciated.

Thanks.
 
Jessie Livermore style stock trading stopped working with the introduction of the SEC in 1934. By 1940 he had gone bust trading commodities and shot himself. Read one of the two biographies of him not reminisces of a stock operator.


 
Jessie's biggest fortune was made in the crash of 1929 when he was short. He had a contact at the Bank Of England, who he spent $15 a minute to call, in 1929 dollars. The contact told him ahead of time that a London based financier called Hatry, who had a swimming pool on the roof of his Mayfair penthouse, was about to go bust. Jessie increased his short. Read the biography much better than reminises of a stock operator.

https://en.m.wikipedia.org/wiki/Clarence_Hatry
 
Last edited:
ZBZB said:
Jessie Livermore style stock trading stopped working with the introduction of the SEC in 1934. By 1940 he had gone bust trading commodities and shot himself.
More...

Livermore lost his 1929 fortune and went bankrupt before the SEC was formed in 1934.
 
You must log in or register to reply here.
Back
Top