Is Jessie Livermore trading still work with internet ?

Discussion in 'Trading' started by viruscore1, Feb 2, 2019.

  1. I'd say yes. He made a bazillion, back when a bazillion was worth somethin'. Then he lost it (a couple times?) and killed himself. So yeah, crazy trading is still in force!

    Still, in my IMHO there are some good lessons in Reminiscences.
     
    comagnum and viruscore1 like this.
  2. ironchef

    ironchef

    His trading philosophy according to the writeup:

    So he is fundamentally an investor and not a trader?
     
  3. tiddlywinks

    tiddlywinks

    What has changed? JL used price (OHLC), volume, and behavioral finance. None of that has changed. One difference however is the removal of in the moment experiential characteristics. The sights, the sounds, the facial expressions, the first-hand witness of behavior associated with time, place, and movement.

    The mini-doc you posted clearly pointed out JL's time tested "rules". And the rules presented are not about a specific trading technique or type of analysis. They are about discipline.

    Population growth, accessibility to technology, and government regulation (interference) aside, the internet is the modern day equivalent of the telegraph.
     
  4. qlai

    qlai

    Don't confuse the concept with application. His concepts are timeless, adopting them to your style and learning to execute it real time is another matter.

    jesse-livermore-wall-street-never-changes.jpg
     
  5. tiddlywinks

    tiddlywinks

     
  6. Nobert

    Nobert

    Funny thing, from 4 investments books that i ordered, this one never arrived, i thought i made a mistake when ordering, but it was their mistake, whatever, gona get english version.

    Any recommendetions on a ,,must'' type for trading books, would be appreciated.

    Thanks.
     
  7. ZBZB

    ZBZB

    Jessie Livermore style stock trading stopped working with the introduction of the SEC in 1934. By 1940 he had gone bust trading commodities and shot himself. Read one of the two biographies of him not reminisces of a stock operator.



     
    Nobert likes this.
  8. ZBZB

    ZBZB

    Jessie's biggest fortune was made in the crash of 1929 when he was short. He had a contact at the Bank Of England, who he spent $15 a minute to call, in 1929 dollars. The contact told him ahead of time that a London based financier called Hatry, who had a swimming pool on the roof of his Mayfair penthouse, was about to go bust. Jessie increased his short. Read the biography much better than reminises of a stock operator.

    https://en.m.wikipedia.org/wiki/Clarence_Hatry
     
    Last edited: Feb 2, 2019
    Nobert likes this.
  9. southall

    southall

    Livermore lost his 1929 fortune and went bankrupt before the SEC was formed in 1934.
     
    #10     Feb 2, 2019