How was trading 100 years ago?

I recently read Jesse Livermore's book "How to trade in stocks". Today, we have data on the prices every seconds, even every milliseconds. How was it in Livermore's times? I remember him writing one should avoid intraday but why? Today we have so much data that one can profit from trend in intraday too.
Did they have less data back then?


Thank you

 

It was easier to move stock/ manipulate.

 

read Jessie Livermore - reminisces of a trader to gain a flavor of trading in the old old days.

 

Higher commissions and slower quotes would have made intra day trading alot harder.
The exception was the bucket shops which appeared to price entries and exits off the 'delayed' feed.

 

Thanks for the recommandation, will do

 

Do you think that having less frequent quotes makes you think in a more long-term trend perspective?

 

Livermore was very outspoken on day trading, he saw it as a mugs game, and there was plenty of that even back in his day. Livermores core theme was that the big $ was made in holding wining positions as long as they are acting right, not from flipping stocks intraday.

Not trying to knock short term trading - it has it's place. I do some myself when the ducks are lined up in a row.

 

I imagine seashells were involved

 

No body can tell you in person. I bet.

 

Absolutely NO indicators were used.