Jesse Livermore 25 Trading Lessons

Jesse Livermore was born in 1877 and he is probably considered one of the most famous trader in history. He started trading at the age of 14 from bucket shops (an unauthorized office for speculating in stocks or currency using the funds of unwitting investors). His tape reading skill was so good that these bucket shops eventually didn’t want to do business with him. Jesse Livermore led a life of brilliance and excess, surrounded by … Continue reading

The true words of Jesse Livermore

True words and thoughts by Jesse Livermore on Trading

Introduction In 1929 Jesse Livermore’s fortunes were at their zenith. He had made a profit of $100 million dollars shorting the markets during the great crash. Yet, by 1934, he was bankrupt. In just five short years one of the greatest stock-traders the world has known lost his entire $100 million fortune. We cannot blame this on the inadequacy of his trading rules – they were fully formulated by then. We must conclude that he … Continue reading

The game of speculation quotes

The trading game of speculation by Jesse Livermore

Speculators are not interested in putting their money into a stock or commodity for a long time. They want to see a good profit quickly – on a time scale of minutes to months. If their money does not quickly perform well in a situation, they move it into another situation. In pursuit of greater gain, speculators take greater risks with their capital than people who put their money into Savings & CD Accounts. For … Continue reading

Trading versus Gambling

Man is a gaming animal. He must always be trying to get the better in something or other. Charles Lamb The market is a no-called-strike game. You don’t have to swing at everything – you can wait for your pitch. The problem when you’re a money manager is that your fans keep yelling, “Swing, you bum! Warren Buffet To anticipate the market is to gamble. To be patient and react only when the market gives … Continue reading