reminiscences of a stock operator amazon

“All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. They wait for the right moment, and strike when they are sure of victory.

A cheetah is the fastest animal on the planet, but they run sparingly. Traders should trade when the market conditions are advantageous to them, otherwise if we stare at the tape all day we’ll end up feeding it. You will reap benefits from their mistakes.”īoredom trading was a problem for me I felt the need for action on a daily basis.

“Remember this: when you are doing nothing, those speculators who feel they must trade day in and day out, are laying the foundation for your next venture. In the first part of our review of Livermore’s approach – which can be found here – we looked at his thoughts on losses, the predictability of markets, and pricing, among other areas. For the astute speculator, profits can be made long and short. In the AIM market, we’re playing against other humans, many of whom don’t do their research, gamble, and are unable to control their emotions. Many readers love to speculate, and this can be highly profitable. But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get-rich-quick adventurer. “The game of speculation is the most uniformly fascinating game in the world. In 1940, he shot himself in the cloakroom of The Sherry-Netherland in the Upper East Side. He made a fortune during the Crash in 1929, but struggled to hold onto it. Livermore made huge amounts of money several times, only to lose it again and again. However, he lost everything because the tickers lagged behind the real numbers. The bucket shops eventually all banned him, because he kept winning! In 1899, he decided to up his game and moved to New York.

Livermore started trading young, tracking the ticker numbers in his journal, and he realised that there was nothing random about them at all. Some have suggested depression, some have suggested that he was broke. The story of Jesse Livermore is both a fascinating and an intensely sad one, for he would eventually kill himself. It’s entertaining, easily readable, and packed full of gems. If you haven’t read this book – I’d strongly recommend it. This week, we are looking at ten tips from the legendary Jesse Livermore, from the book Reminiscences of a Stock Operator.

Reminiscences of a stock operator amazon