You were doing wonderfully well until this unfortunate post. As was said in a movie script...."You don't know me" Yet you comment as though you were my banker. Suggest you contain your comments to a subject you have certain knowledge of. Thank you Steve
Sure. We all need to accept losses. No one can gain every time. We win because our profits are large enough to cover the losses. Actually I think most mistakes traders make nowadays have been made by others long time ago. However this doesn't mean they can avoid these old mistakes. New traders keep making the same old mistakes all the time. Guess why?! Most traders like to join the market at the first time without good preparations. They won't learn until getting burnt.
I assume that if you made millions like livermore, I WOULD know you. You are right, this is not necessarily the case. Sorry but I always get cranky when I hear people criticizing livermore. He was one of the greatest traders that had ever lived and I respect him very much.
As I have mentioned, you don't know me. My financial condition is none of your business. Again you post without thinking about the content of your post. Having worked most of my life for people of high net worth I can assure you that they do not disclose their finances to anyone without a good reason. Nor do I. The recommended sequence is first you think about what you want to say, then you think some more, then you post. Give it a shot. Thanks Steve
Thanks for the advice Steve. Sorry if I offended you. I am just saying that if you feel as if you want to say something bad about someone, please be sure that you are at least on the same level as the guy you wish to demean. In my opinion, no trader that ever lived belongs in the same league as Jesse Livermore and so any criticism necessarily comes from a lesser being. Perhaps you need to think about that.
See the problem here from my point of view is that you have mythologized Mr. Livermore's life. Apparently you have decided to overlook his alcoholism, his terrible relationships with his wives and his children and his suicide, and why...because as you put it he has made millions of dollars. What kind of value system is that? And on the second issue. According to your criteria, no one can say anything derogatory about Mr.Livermore unless they have made a lot of money (like he did). This supposes that people that have made money have some intrinsic intelligence that the rest of us don't have. I can assure you that this is not true. Perhaps we should restrict our comments unless we have divorced several wives and shot at least one of our children at the dinner table Personally I prefer to have the children run back and forth across the backyard lawn while I take pot shots from my chaise lounge on the deck. Steve
I saw that movie. It was "Get Shorty" and the guy who said it got snuffed out with a bullet to the head as I recall. 'Cept it wasn't self-inflicted, like ol JL.
Agree! If the person can logically and reasonably present why an intelligent person or act is wrong or such and such, why not? If the above were true, then no one could say anything derogatory about a president unless you was once a president.
I am confused...some of you are criticizing Livermore for being a bad father/husband and liked his booze? I thought this was a trading forum not a morality, "born again in the name of Jesus" forum. I agree that Livermore could have been a better person and I suspect he was quoting on that effect when uttered. "my life has been a failure", not his career as a trader. We should be careful of not moralizing and throwing stones at others unless we are immaculately clean. Are you Steve?