Why real traders do not discuss gains or losses...
- Thread starter Port1385
- Start date
From wiki
He married his first wife, Netit (Nettie) Jordan of Indianapolis, at the age of 23 in October 1900. Less than a year later, he went broke after some reverses in his stock trading; for a new stake, he asked her to pawn the substantial collection of jewelry he had bought her, but she refused, permanently damaging their relationship. They separated and finally divorced in October 1917.[2] His second wife was Dorthea (Dorothy) Wendt. They had two sons, Jesse Jr.[3] and Paul. His third wife was Harriett Metz Noble.
He owned a series of mansions around the world, each fully staffed with servants, a fleet of limousines, and a steel-hulled yacht for trips to Europe. He married his second wife, Dorothy, a beautiful Ziegfeld Follies showgirl, on December 2, 1918, when he was 41 and she was 18.[6]
Livermore continued to make money in the bull markets of the 1920s. In 1929, he noticed market conditions similar to that of the 1907 market. He began shorting various stocks and adding to his positions, and they kept declining in price. When just about everyone in the markets lost money in the Wall Street crash of 1929, Livermore was worth $100 million after his short-selling profits.
Dorothy finally filed for divorce and took up temporary residence in Reno, Nevada, with her new lover, (and later 2nd husband) Walter Longcope. On September 16, 1932, Dorothy divorced Livermore on grounds of desertion. They had been married 14 years. Dorothy retained custody of their boys.[9]
On March 28, 1933, Livermore married 38 year old Harriet Metz Noble in Geneva, Illinois; there was no honeymoon. It was Harriet's fifth marriage; all four of her previous husbands had committed suicide.[10] Livermore would be no different.
On November 28, 1940, Livermore shot and killed himself in the cloakroom of the Sherry Netherland Hotel in Manhattan. (age 63)
Untouchable trusts and cash assets at his death totalled over $5 million. A lifelong history of clinical depression had become the dominant factor in his final years.
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His wife of 14 yrs leaves him, divorces him and takes his 2 sons. Not surprising he was depressed.
One year later he marries Noble (yikes! 4 previous husbands died of "suicide" - perhaps a black widow?)
He had $!00m after the crash of 1929 -so 4 years prior to his marriage to the black Widow. You would think after 5 husbands dead of "suicide" and $100million vanished the police might do some digging.
He married his first wife, Netit (Nettie) Jordan of Indianapolis, at the age of 23 in October 1900. Less than a year later, he went broke after some reverses in his stock trading; for a new stake, he asked her to pawn the substantial collection of jewelry he had bought her, but she refused, permanently damaging their relationship. They separated and finally divorced in October 1917.[2] His second wife was Dorthea (Dorothy) Wendt. They had two sons, Jesse Jr.[3] and Paul. His third wife was Harriett Metz Noble.
He owned a series of mansions around the world, each fully staffed with servants, a fleet of limousines, and a steel-hulled yacht for trips to Europe. He married his second wife, Dorothy, a beautiful Ziegfeld Follies showgirl, on December 2, 1918, when he was 41 and she was 18.[6]
Livermore continued to make money in the bull markets of the 1920s. In 1929, he noticed market conditions similar to that of the 1907 market. He began shorting various stocks and adding to his positions, and they kept declining in price. When just about everyone in the markets lost money in the Wall Street crash of 1929, Livermore was worth $100 million after his short-selling profits.
Dorothy finally filed for divorce and took up temporary residence in Reno, Nevada, with her new lover, (and later 2nd husband) Walter Longcope. On September 16, 1932, Dorothy divorced Livermore on grounds of desertion. They had been married 14 years. Dorothy retained custody of their boys.[9]
On March 28, 1933, Livermore married 38 year old Harriet Metz Noble in Geneva, Illinois; there was no honeymoon. It was Harriet's fifth marriage; all four of her previous husbands had committed suicide.[10] Livermore would be no different.
On November 28, 1940, Livermore shot and killed himself in the cloakroom of the Sherry Netherland Hotel in Manhattan. (age 63)
Untouchable trusts and cash assets at his death totalled over $5 million. A lifelong history of clinical depression had become the dominant factor in his final years.
---
His wife of 14 yrs leaves him, divorces him and takes his 2 sons. Not surprising he was depressed.
One year later he marries Noble (yikes! 4 previous husbands died of "suicide" - perhaps a black widow?)
He had $!00m after the crash of 1929 -so 4 years prior to his marriage to the black Widow. You would think after 5 husbands dead of "suicide" and $100million vanished the police might do some digging.
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Rabbit
Good tough questions
Or ever read any good traders.LOL. Jack Schwager 3 top trader[4 more now ,top trader] books may help, much more better than Livermore.
Mr Live-r-more was an excellant trader;but he didnt practice much trading business/money management wisdom.After one trading blow up;some learn,
some dont.
And after a pattern of blow ups;
some learn, some dont
The headline of this op Post is 95% -99% wrong.a winning trader knows:
never think of money when in trading.
when think of money, money loss creates fear. money gain creates blind greed.
if fear is so overwhelming, a perfect trade setup to you is a threat, you will hesitate to avoid the possible loss.
if greed is so overwheliming, you will see any moving things as opportunity, you will ignore traps
the most important thing to a trader: forget about money. think of money is the no.1 reason why most people fail.
never think of money when in trading.
when think of money, money loss creates fear. money gain creates blind greed.
if fear is so overwhelming, a perfect trade setup to you is a threat, you will hesitate to avoid the possible loss.
if greed is so overwheliming, you will see any moving things as opportunity, you will ignore traps
the most important thing to a trader: forget about money. think of money is the no.1 reason why most people fail.
Amen.
My psychological trap isn't thinking about money by itself, but rather, money by time. When I start focusing on budgets, I get in trouble. Pnl comes and goes faster than I always think it can.
Money is if not the only reason for people to trade. there is no other way to say it. Because of the importance to trader's financial wealth being, pnl can distort trader's decision making capability, causing either over timidity or fool-hardy boldness. I think proper way to handle it is to give enough margin to adverse trading outcome and to take appropriate risk that fits your emotional, financial, skill, training experience background.
Pretending you do not care about money is like Ostrich berrying head in the sand.
Really....and you know ALL traders in the world?? Wow, very interesting! 
Quote from vinc:
Real traders / timers/ don't discuss gains or loses for the simple reason which is -
there are no gains , that is they are on average net losers..so what's there to discuss??
We are talking REAL TRADERS here , not paper ones