well now that I know trading myself, not just a noob reading reminiscences I came to conclusion that Livermore was NOT a good trader the man was a swinger and was averaging down, he would try to PREDICT by figuring if market was the next BULL or BEAR market he would bet the farm and be very wealthy if right, and BROKE if wrong the man killed himself, the man was a gambler not a good trader as for me I don't know why I waste my time on ET
you, my friend are wrong here. maybe you have your facts wrong, but as i know, Livermore's approach was a very clear example of scaling in . he would place a small position and if the trade worked in his favour he would then add the bulk of his money to make his profits. i have no idea where you read about betting the farm... and after all, if being a BAD trader means getting the returns Livermore got, i think we should all be BAD traders... And about the suicide thing, let's stick to things related to trading. His suicide has absolutely no tie to his trading. Everyone has shadows in their shoeboxes ...
he suicide because he kept blowing up in total 4 times everytime he became a millionaire people on wallstreet said he was god and then he believed he was a god and then he blew up and this 4 times makes you very unstable
I just finished the Livermore and one thing about his situation that does not apply anymore ... in many situations ... his trades moved the markets .. in some cases he was the market. He had unshakable confidence in his skills which seems to be necessary for a trader. He liked to live large .. so I could not really relate to him personally but I loved his insights on the actions of people.