Jesse Livermore

Ok its been fun jabbing at the kid, when he trades he will get his education. I was always told everyone is entitled to their own ignorance. So lets get back on the topic at hand, and possibly summarize what people have learned and not learned from the book.

I learned to enter positions during pause periods of stabilization, and to not let monetary success rule your outlook on life.
 
Lots of hidden messages in the book.

Such as


The more things change, the more they stay the same.

Making money is easy in the market, keeping it is the hard part.

Losers make the same mistakes over and over.

No matter how small or how big of a trader you are, you will always blow out if you do not listen to what the market is saying.
 
Because he was a somebody and you are a nobody :)
How many millions have you made? Your arrogance could only come from a very stupid person. 30 minute after you are dead and buried you'll be all forgotten and likely leave no mark whatsoever yet Livermore is being discussed at length here...amazing ain't it?
Quote from BDGBDG:

Why is everyone defending him? The media has romantized his life, but the simple fact of the matter is that he was a horrible trader. He may have been a colorful, likeable man, but anyone that contiounsly blows up is not a good trader. He should have followed his own advice. Instead, he was way too emotional and impulsive.
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What a waste of megs.

Jesse Livermore was the Greatest Trader Ever. Period!!

He was a pioneer in so many areas, that that alone puts him up there.

The 100 million he made in the crash of 1929 is more than 11 billion in todays dollars to put it in prospective.

Nice calculator http://eh.net/hmit/compare/

He says in "Trading like Jesse Livermore" that the only time he lost money was when he didn't follow his own rules.

I'm sure you follow your own rules all the time, right?
 
I'm not an expert on jesse but what I do know was that I liked him. He was and is the world's greatest trader in my view.

However the greeks would have called him a tragic hero, perfection tainted by human nature.

I respect him but I sure as heck would not want to emulate him, it's just not my style.


Maybe one day I too will be soo successful that it messes me over too!
 
Quote from mschey:

Jesse Livermore didn't understand money management. That doesn't mean he wasn't a great trader, he was one of the greatest, if not the greatest! To say otherwise is ridiculous!
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I think implementing good money management is a key factor to become a successful trader.
I am not saying Livermore was not a great trader tho.
 
Quote from doublea:

I think Reminiscences and Atlas Shrugged were the two books that made me want to be a trader. There is so more you can learn from Reminiscences: One of the most important is Cut your losses short and let your profits run.

Anyway, I took this Entrepreneurship class, the professor was really good but he had started 3 businesses that all failed. But there were atleast 20 successful businesses started by his students.

The main thing is after reading the book, did you learn anything of value that will make you a better trader. If you did not, then maybe the book is not for you or maybe trading is not for you.
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"those who can do. those who can't teach." hemmingway

perfect example:)
 
Quote from BDGBDG:

When I make it big and am in Market Wizard III, I will give my opinion on JL.
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So you mean never. There ARE already 3 Market Wizard books, I hate to tell you. I don't think you are in it....

Your ignorance is showing. So you read a bad biography about him? Why don't you read a good one???? :confused:
 
He was a genious and the first technical analyst.
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The Japanese invented candlestick charts in like, the 17th century. That would be the first TA on record that I know of. But yeah, JL was cool, and a great technician of his time. But there were others during that period, like Richard Wyckoff and Humphrey Neill.

H
 
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