NO, I gave up the holy grail search awhile back, thank you. I realize that they dont exist. And those that DO exist, only exist in very specific market conditions... Listen, Again, I liked the book. But it seems like everyone jumps on the bandwagon, and salivates over it....
Good point. I think the main gist is that you can never get ahead of yourself. Stay humble b/c the market will humble you if you give it the chance. Also, dont inflict your will upon it, listen to what it is telling you, even if you are on a hot streak.. my .02
I started trading a little while ago (nice timing?) Reading Reminiscences really helped me and I always get something out of it when I re-read. Another non trading tome I really like is an e-book. http://www.futuresmag.com/futuresclassroom/phantom/phantom.html Anybody else read this? It has helped me a lot. I am still working on getting better at "adding correctly". But it has helped my returns dramatically to be getting bigger in the trades that are trending FOR ME!!!
hey mdl Are you by any chance a daytrader? If so, the book may not seem as relevant to you. As a longer term trader, it is by far the most enlightening book I've read. Did you ever read Market Wizards or The New Market Wizards? The big fish in those books said repeatedly that what matters in trading is ultimately between your ears (although we all know that one must have an edge going in). I think that's why Reminiscences is my favourite book. Anyway, I'm one who thought it was the best trading book I had ever read before I found out that everyone else thought it the best ever written.
I think the first 1/4 of the book was very good, but then it became painfully slow. Personally, I think Livermore was a degenerate gambler.