Maybe a great trader, but boy, his pick for 2nd wife: "On March 28, 1933, Livermore married the 38 year old Harriet Metz Noble in Geneva, Illinois; there was no honeymoon. It was Harriet's fifth marriage, and all four of her previous husbands had committed suicide." And even regarding his trading, not so sure: --- Livermore first became famous after the Panic of 1907, when he short sold the market as it crashed. After the crash and its aftermath, he was worth $3 million. He proceeded to lose 90% of that 1907 fortune on a blown cotton trade. He violated many of his key rules; he listened to another person's advice (he preferred working alone) and added to a losing position. He continued losing money in the flat markets from 1908-1912. He was $1 million in debt and declared bankruptcy. --- 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 $100 million after his short-selling profits. he yet again lost much of his trading capital, accumulated through 1929. Thus, on March 7, 1934, the bankrupt Livermore was automatically suspended as a member of the Chicago Board of Trade. It was never disclosed to anyone what happened to the great fortune he had made in the crash of 1929, but he had lost it all. Seems like a great trader is someone who makes and KEEPS a lot.
Who is or was the best ? Not just one from us can say it. Different times, different markets, different market developments. Some are trading with their own money, some have no risk platforms behind and so on .... The best traders are the traders sitting at home, without any insider support and trading with own money. Still profitabel and without public stars. Who cares about all these big hedge fund traders, which are big time supported, are not trading with own money and feeling like stars. What is this ? This is a BET only. This is not trading for LIVING !!! All these known "famous" traders became famous in "easy markets". Eye to eye without Algo's, Quants and so on. Just you and me are trading against. You know what I mean? It was "easy". LET'S ALL THESE GUYS STARTING WITH A 5000 US$ Account with no credit and so on. Compare their results with yours and they are dead for ever. Believe me. Regards. Mike
How can anyone say the greatest trader of all-time is someone who blew out his account multiple times? That is the epitome of a degenerate gambler, not a "great trader".
Just a suggestion...Greatest trader of all time that has kept his cash. Otherwise, break it into two groups. 1. Greatest trader of all time 2. Greatest risk/money manager of all time Cheers, B
Livermore obviously had his own demons, but sounds like he should have cut his losses short on the 5-timer. probably drove the poor guy nuts.