Usually small. Though last year I held BAC options. I get all my ideas from other people, so that easily decreases the time it takes me to search.
Yes he did trade futures but by was known for trading equities in huge size. I think his general conditions comment would apply to every instrument he traded but the majority of time that was stocks.
the lesson is that traders get depressed and suicide, no matter how much money they make its literally a journey to death. O well at least its an interesting journey.
Everything works for somebody. If you read something, albeit esoteric, and it resonates with you, motivates you, "turns on a light", it works. I never really understood Livermore's significance either, but 35 years after the first read, I still quote some of the passages from memory. So, it's worth something to me. In those days, it was much more wide open than today. Granted, a few who toss money around are (were) privy to special inside information, but then, it was wide open. I heard tell a story in Palm Beach where a well - dressed individual on the phone was screaming about a stock, singing its praises, encouraging the listening to go all in. The next day, the same man is sitting on the curb, dressed a bit more demure. Was that what he meant by "general condition"? A bull market maybe where a plant like that can rocket thin stocks? I think Loeb's "Battle..........." is the best text of all time that's not based in math or formulas. The line I remember the most, "Mr. Loeb, is it true you keep your stops at 5%?" He replied, "No, I don't like to lose that much." He doesn't tell you HOW much, or WHERE, but it should get the reader motivated enough to figure that out on his own. So many little clues on how to win (not lose). Everybody can get something from most any read. One thing could make a difference. When the student is ready, the teacher appears.
I read a lot of Loeb, and it was 30 years ago. He said it. And even if he didn't......................
I like this statement:When the student is ready, the teacher appears. (the quality of the teacher seems important) When we put aside pride and aim toward humility additional perspective may be seen. With such a perspective we may see things more for what they are rather than what we want to see. a favorite quote from Loeb: that which is easy to buy and hard to sell will fall in value. that which is hard to buy and easy to sell will rise in value.
I think The Battle for Investment Survival has value but more value to an investor than a trader and I think Reminiscenses has more value to a trader. I don't see how anyone can knock either book and they are both, particularly Reminiscenses , easy reads.