Did Jesse Livermore use Interactive Brokers?

"The ticker beat me by lagging so far behind the market. I was accustomed to regarding the tape as the best little friend I had because I bet according to what it told me. But this time the tape double-crossed me. The divergence between the printed and the actual prices undid me. It seems so obvious now that tape reading is not enough, irrespective of the brokers' execution, that I wonder why I didn't then see both my trouble and the remedy for it. I did worse than not see it; I kept on trading, in and out, regardless of the execution."

 

Nope. He didn't. That's why he commited suicide and died almost broke.

I hope you don't use IB.

 

And which broker would you recommend?

 

"Almost broke"? Read again:

http://en.wikipedia.org/wiki/Jesse_Lauriston_Livermore#Suicide

 

A cool 5 million back then would have equated to a rather nice lifestyle.

 

Five million in 1940 was a big chunk of change. From what I have read, there were additional assets that his wife Harriet was able to hide from the official records of his assets at death. Jesse spent a lot of money, lived the high life and left most of his fortune to his second wife Dorothy when they divorced. Markets changed and Jesse was never able to again make the fortune size he left to Dorothy.

 

Re-read his comment. It's right there.

 

Ol' JL had little use for charts. He would have loved IB.


* My name is Kingofposters and I approve this message.

 

http://en.wikipedia.org/wiki/Interactive_Brokers, says IB founded in 1977. Jesse died in 1940 (http://en.wikipedia.org/wiki/Jesse_Lauriston_Livermore).



So, Jesse not use IB, right?



He died as "Livermore had failed to regain his trading confidence before his death. A lifelong history of clinical depression had become the dominant factor in his final years.", wikipedia words.

 

I'll go slow:

It's a dig at IB.