Jesse Livermore's Trading Mindset Pearls of Wisdom

I made 500% in one month in 2005 by buying way out of the money calls in Reliance Industries.

 

the market fools you.

I realsied that because I lost money 95% of my trades.

i tried to figure out how the market was fooling me but could not for 13 years.

after that i figured it out.

today i have reversed that and with 500 leverage and using 100% margin -all in- i make …..well you do the math

 

I think he was murdered.

He was too good... he took the wrong person's money.

 

Suicide....
https://www.elitetrader.com/et/threads/jesse-livermore-suicide.211924/

 

I don't know whether they had bankruptcy laws back then, but when he committed suicide his liabilities exceeded his assets.

 

I think it's a lie... the note was forged.

 

Based on what? The man was bipolar and lost his fortune, perhaps one time too many.



Here, read some more:

http://option-wizard.blogspot.com/2017/11/the-tragic-end-of-jesse-livermore.html

 

Thanks for response Scataphagos,

What is the best book or video course you study to learn Technical Analysis?

In your opinion does Price Action and Technical Analysis mean the same?

 

1. The only book I can recall reading about TA is Nison's book on Candlesticks... and that turned out to be only marginally useful. I am a self-taught player. (One of my favorite quotes is from the fictional Sherlock Holmes... when asked, "Just what is it that you do, Mr. Holmes?" He replied, "I observe and deduce". Schooled in science myself, it seems only natural to formulate trading strategy from that perspective. In my market career I've encountered 3 others who more-or-less view/trade the market as I. There must be many others, as it's "there" to be seen and understood by everybody... if they're able to screw on their thinking cap.)

2. All TA comes from the market itself. Price, chart patterns, and many say volume. (Personally I refute the value of volume in trading/investing decisions.) TA excludes the notion of fundamentals... except for identifying reinforcing the prevailing bullish/bearish psychology... which is also a "TA Price" thing. That is... whatever your fundamental perception... it has already been reflected in the price charts. (It's often said, "technicals precede fundamentals". I don't think that's true. What IS true is that prices can reflect fundamentals before we retail screen jockeys can "get the news", so that it appears technicals lead.)

 

Thanks for the response. I agree