Timing was everything for JL and he seemed to know which side of the market to be on and when he bet the farm. I can only wish and hope to be a small fraction of as good as he was in the art of speculation.
All traders - even the best - lose money. Just ask George Soros. But their winners are bigger than their losers. Livermore? Well, he made fortunes - and lost them again, because it was very hard for him to follow his own rules. But we can learn a lot by reading his books.
...turned me about 180 degrees inside out....everything I learned from charting to fundamentals were dumped after I read the last page in that book... I guess that would be the equivalent of having a catholic priest turn into a buddhist monk....thats how profound this book had an effect on me....
Trading did not kill himself....syphilis and mental illness contributed to that in that time period they did not have a cure....So before you make a off-handed comment like that know your facts....
That first line is the same as written in Toa te Ching: Those who know do not speak Those who speak do not know Block the passages Close the door Blunt the sharpness Untie the tangles Harmonize with the brightness Identify with the way of the world And another that I like a lot from Roald Amundson, the great explorer (1927): Victory awaits those who have everything in order - people call it luck. Defeat is certain for those who have forgotten to take the necessary precautions in time - people call that bad luck. Sherlock