Jesse Livermore

Quote from BDGBDG:

He sucked as a trader.
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He was a genious and the first technical analyst. He is my hero. His pivot points strategy still works it is just called double top/bottom.

He was the first (by the way at the age of 17 or so) to notice that stocks moves according to a certain pattern.

By the way to be able to blow away millions you have to MAKE those millions first.He did it 3-4 times...

He made fortunes twice shorting the market (1907 and 1929)when everybody got caught being long. He had the good sense and moral not to short anymore when JP Morgan asked him to do so in the 1907 crash...

He always paid back his creditors even when he wasn't obligated to do so. How many of us would do that???

In the Market Wizzard books he is quoted as one of the most influental trader to today's traders/managers.

So learn before you judge.

P.S.: Yeah I know about the suicede, manic-depressive people commit it quite often. It ain't that bad to die at 60+ when you had a life like Jesse had....
 
My ignorance is blinding? Ok. Go emulate Livermore. Just because someone is quotable doesn't make them an expert on the subject. Everyone is entitled to have an opinion, and I respect all of yours, but I don't think too highly of a man that couldn't follow his own trading rules.
 
Quote from BDGBDG:

My ignorance is blinding? Ok. Go emulate Livermore. Just because someone is quotable doesn't make them an expert on the subject. Everyone is entitled to have an opinion, and I respect all of yours, but I don't think too highly of a man that couldn't follow his own trading rules.
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I think he had one helluva life... too bad he chose to end it on a downtick.

At the very least, his legacy is a book loved by those who trade.

One hundred years from now, I don't think anyone is going to say hey, remember when that BDGBDG said that Livermore sucked as a trader?
 
Well, you never know. When I make it big and am in Market Wizard III, I will give my opinion on JL. Then someday new traders can quote me as a source who thought JL was overrated.
 
I would not judge Jesse Livermore's trading style by what happened to his life. He self-destructed. Obviously money by itself does not buy peace of mind. Ultimately, true happines is indeed free.

His technical style is very profitable as evidenced by the way he made money when he follows it. This is the same style as the famous turtles or any successful trend-following systems. I posted some of his rules close to my monitors so I can see it everyday and temper my emotions.

If you ignore Jesse Livermore's rules of trading (regardless if he himself followed it at all times), you will have a hard time being consistently profitable. His trading rules are TIMELESS.
 
Quote from BDGBDG:

Well, you never know. When I make it big and am in Market Wizard III, I will give my opinion on JL. Then someday new traders can quote me as a source who thought JL was overrated.
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I am not bashing you, but I suspect that by the time you make it big your view on Livermore will have changed.
 
Quote from BDGBDG:

Well, you never know. When I make it big and am in Market Wizard III, I will give my opinion on JL. Then someday new traders can quote me as a source who thought JL was overrated.
More...

I doubt you will ever make it big-- at least without adjusting your current state of mind. I respect your right to express an opinion but now some of what you are adding is sophomoric at best! I'll bet there isn't one very good trader who did not learn a LOT from Livermore. He was the real deal.

In my view you sound way too arrogant... with little or nothing by way of actual time in the arena to back up your views. The markets chew up and spit out guys with your b.s. swagger!

Ice
:cool:
 
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