25 of the best Jesse Livermore Trading Rules. A 9000 word Ultimate Guide to the trading legend, Jesse Livermore and his best trading rules.
Jesse Livermores der größte Trader aller Zeiten ● Handelsstrategien, Marktpsychologie & warum seine Lektionen für moderne Börsenhändler heute noch relevant sind
Jesse Livermore é uma lenda em Wall Street. Após falir quatro vezes decidiu remodelar sua estratégia. Inicialmente ele realizava o que hoje se conhece como “scalping” (scalping é uma estratégia operacional de day trading, tratando-se de uma operação de curtíssimo prazo que se baseia na compra e venda de ativos no mesmo pregão executada no mercado de ações). Essa remodelação ele encontrou em Wall Street, quando passou a operar em tendência, ou seja,”Trend Following”, que é um acompanhamento de tendência, ou negociação de tendência, que é uma estratégia de negociação segundo a qual se deve comprar um ativo quando a tendência dos preços subir e vender quando a tendência cair, esperando que os movimentos dos preços continuem. Ed Seykota se inspirou no trabalho de Richard Donchian. A maioria dos seguidores de tendência admitem ter sido inspirados por Jesse Livermore, negociante de ações e commodities do início do século XX, que utilizava a estratégia de tendências muito antes de o termo existir. Jesse nasceu em South Acton, Massachusetts, em julho de 1877 e faleceu em novembro de 1940. Aos 14 anos, seu pai o tirou da escola para que arrumasse dinheiro trabalhando em uma fazenda. Mas persuadiu o carroceiro que o levava a mudar o caminho e parou no escritório de corretagem de Paine Webber em Boston, onde conseguiu arrumar emprego por aparentar ser mais velho. Nessa corretora era conhecido como o “garoto do giz”, pois escrevia as cotações de ações no quadro negro. Foi nesse trabalho que ele aprendeu a negociar ações, com o fruto do seu salário de apenas US$ 5. Com apenas 30 anos já tinha acumulado uma fortuna de 3 milhões de dólares. Aos 52 tinha uma invejável soma de 100 milhões. Após 40 anos de negociação, ele desenvolveu um talento especial para especular em cima do movimentos dos preços. Mesmo sem declarar o nome de Jesse Livermore no livro “Reminiscências de um especulador financeiro”, escrito pelo jornalista Edwin Lefèvre, todos sabiam que era uma espécie de biografia não autorizado do célebre trader. No ano de sua morte, Livermore publicou o livro “How to Trade in Stocks” (Como negociar Ações). Muitos traders consideram atualmente esse livro como um clássico do gênero, abordando a psicologia, filosofia e concepções básicas não apenas sobre negociação com ações, mas ativos em geral. Porém, como o interesse pelo mercado de ações na época era baixo, além disso a análise técnica não era levada muito à sério, o livro vendeu muito pouco e recebeu diversas críticas. Jesse Livermore dizia que nenhum operador poderia negociar no mercado de investimentos e simplesmente vencê-lo. Todos que operam diariamente em algum momento acabam perdendo. Ter lucratividade só é viável negociando nos momentos em que o mercado demonstra sinais claramente definidos nos movimentos de tendência de alta e baixa, quando a ação se move em uma única direção. Livermore percebeu que maioria dos traders sofria reveses por causa da inexperiência em não observar as regras de negociação. Normalmente a causa fatídica era a esperança ou o medo que os levavam a errar. A esperança fazia com que os traders aumentassem suas perdas, mantendo posições perdidas por tempo excessivo, esperando que o papel simplesmente revertesse a posição para lucro. O medo levava os operadores a diminuir seus lucros vendendo posições lucrativas muito cedo, com receio que houvesse uma reviravolta no mercado e suas posições lucrativas se transformassem em prejuízo. Suas convicções continuam sendo estudadas, principalmente pelo seu aspecto emocional. Suas crenças incluíam sempre seguir e compreender profundamente as condições do mercado financeiro: construir grandes posições se o mercado lhe confirmasse a direção esperada. Dizia que o jogo de especulações era fascinante, mas que não era para qualquer um, principalmente para pessoas mentalmente perigosas e com desejo de conquistar riquezas rapidamente. A seguir, alguns pensamentos de Jesse, que são algo a se pensar, ainda nos dias de hoje: “Se uma ação não estiver dentro dos parâmetros definidos pela estratégia, não a toque; porque se você não for capaz de dizer exatamente o que está errado, você também não pode dizer para que lado ela está indo. Sem diagnóstico, sem prognóstico. Sem prognóstico, sem lucro.” “O homem comum não deseja saber se o mercado tem posicionamentos de alta ou de baixa. O que ele quer saber especificamente, quais ações em particular deve comprar ou vender. Ele quer ganhar algo sem pagar por nada. Ele não quer trabalhar. Ele nem quer ter o trabalho de pensar. Ele acha trabalhoso demais ter que contar o dinheiro que ele achou na rua e tem que pegar do chão.” Outras frases famosas: “Uma pessoa deve acreditar em si mesmo e em seu julgamento se espera ganhar a vida no ramo de negociações em investimentos. Por isso não acredito em dicas.” Isso é bem atual. Hoje temos salas operacionais no Youtube, Facebook, Whatsapp e por aí vai. Temos inúmeros “gênios” dando dicas operacionais o tempo todo. O investidor tem que ter seu próprio entendimento do que está acontecendo no mercado. “Não tome a iniciativa em uma negociação até que o próprio mercado confirme sua opinião.’Segurar’uma negociação é mais aconselhável, até que sua opinião seja confirmada. Em outras palavras, não seja um negociador impaciente.” Trata do viés que sempre carregamos tentando anteceder um movimento do mercado que ainda não aconteceu. Estamos sempre cheios de razão. Não confie cegamente em suas análises até que o mercado te dê condições para isso. “As pessoas que procuram invariavelmente ganhar dinheiro fácil, pagam caro pelo privilégio de provar conclusivamente que ele não pode ser encontrado nesta terra.” “O negociador “sortudo” é aquele que minimiza erros e, se cometer algum erro, age para minimizar os danos, saindo rapidamente da situação. Na prática, para cada negociação em que você entra, o elemento mais importante é o stop loss.” “Não use as palavras “de alta” ou “de baixa”. Essas palavras fixam uma direção firme do mercado na mente por um longo período de tempo. Em vez disso, use “tendência ascendente” e “tendência descendente” quando perguntado a direção em que você acha que o mercado está caminhando. Diga simplesmente: “A linha de menor resistência é para cima ou para baixo neste momento.” Lembre-se, não lute contra o gráfico.” “Só posso subir pelo conhecimento. Se eu cair, deve ser pelos meus próprios erros.” “Não sei se me fiz claro, mas nunca perco a paciência com o mercado de ações. Eu nunca discuto com o gráfico. Ficar chateado com o mercado não o leva a lugar algum.” “O dinheiro de verdade ganho na especulação sempre foi com posições que apresentavam lucro logo de início.” A bolsa de valores é composta de perdas e ganhos. Você entrou em uma operação. Se o mercado não está indo ao seu favor, saia logo com uma pequena perda. A capacidade de reagir e realizar o pequeno prejuízo é o que faz o grande investidor. Raramente uma posição perdedora acaba por se transformar em uma posição vencedora. Durante períodos descendentes ou ascendentes do mercado, Livermore sempre operava, vendendo ou comprando. Livermore apenas seguia o preço e movia-se com ele para o lado que oferecia menos resistência. Ou seja, compre ações que estão subindo e venda ações que estão caindo. Em poucas palavras, siga a tendência, ela é sua amiga. E para encerrar, um pensamento que poderia ser… “filosófico”: “Nunca haverá novidades em Wall Street ou em especulações de ações. O que aconteceu no passado se repetirá novamente, novamente e novamente. Isso ocorre porque a natureza humana não muda, pois a emoção humana está solidamente fixada em sua natureza. Isso sempre atrapalha a inteligência humana. Disso tenho certeza.” Livermore não era de forma alguma um comerciante perfeito (e ele próprio dizia isso). Ele não era exatamente um modelo de negociador. Seu estilo era ousado e extremamente volátil. Quebrou várias vezes, ganhando e perdendo milhões. No entanto, seu desempenho comercial pessoal não diminui a sabedoria de suas palavras. Fonte: http://agenteinveste.com.br/?p=2079
The Success Secrets of a Stock Market Legend Jesse Livermore was a loner, an individualist-and the most successful stock trader who ever lived. Written shortly before his death in 1940, How to Trade Stocks offered traders their first account of that famously tight-lipped operator's trading system. Written in Livermore's inimitable, no-nonsense style, it interweaves fascinating autobiographical and historical details with step-by-step guidance on: Reading market and stock behaviors Analyzing leading sectors Market timing Money management Emotional control In this new edition of that classic, trader and top Livermore expert Richard Smitten sheds new light on Jesse Livermore's philosophy and methods. Drawing on Livermore's private papers and interviews with his family, Smitten provides priceless insights into the Livermore trading formula, along with tips on how to combine it with contemporary charting techniques. Also included is the Livermore Market Key, the first and still one of the most accurate methods of tracking and recording market patterns
This biography of Livermore by prolific writer Paul Sarnoff is a fascinating account of Livermore's life, which explores in detail his market operations and maneuvers, his hopes, his fears, his successes and his failures. Live again the market experiences of the trader known variously as The Wall Street Wonder, The Boy Plunger, The Cotton King, and The Great Bear. Paul Sarnoff's \"This biography of Jesse Livermore\" is the first full biography of the legendary trader profiled in the bestselling Reminiscences of a Stock Operator. Although he died more than half a century ago, Livermore is considered by today's top traders as the greatest trader who ever lived. An enigmatic loner, misanthrope, and notorious miser, Livermore revolutionized the profession with his innovative timing techniques, money management strategies, and high-momentum approach to trading stocks. Smitten provides a vivid portrait of Livermore and the times in which he lived and operated. He deftly combines eyewitness accounts of those who knew Livermore with fascinating stories of sensational love affairs, shootings, and suicides, and a detailed exploration of the trading strategies that made Livermore several fortunes in his lifetime.
Jesse Livermores der größte Trader aller Zeiten ● Handelsstrategien, Marktpsychologie & warum seine Lektionen für moderne Börsenhändler heute noch relevant sind
Exact%20Facsimile%20of%201940%20Edition.%20All%2016%20Color%20charts%20reproduced%20in%20color.%20Livermore%20was%20one%20of%20the%20greatest%20traders%20of%20all%20time.%20At%20his%20peak%20in%201929%2C%20Jesse%20Livermore%20was%20worth%20%24100%20million.%20In%20late%201939%2C%20Livermore's%20son%2C%20Jesse%20Jr.%2C%20suggested%20to%20his%20father%20that%20he%20write%20a%20book%20about%20his%20experiences%20and%20techniques%20in%20trading%20in%20the%20stock%20and%20commodity%20markets.%20The%20book%20was%20completed%20and%20published%20by%20Duell%2C%20Sloan%20and%20Pearce%20in%20March%201940.%20His%20methods%20were%20still%20new%20and%20controversial%20at%20the%20time%2C%20and%20they%20received%20mixed%20reviews%20from%20stock%20market%20gurus%20of%20the%20period.%20How%20to%20Trade%20Stocks%20offered%20traders%20their%20first%20account%20of%20that%20famously%20tight-lipped%20operator's%20trading%20system.%20Written%20in%20Livermore's%20inimitable%2C%20no-nonsense%20style%2C%20it%20interweaves%20fascinating%20autobiographical%20and%20historical%20details%20with%20step-by-step%20guidance%20on%3A%20Reading%20market%20and%20stock%20behaviors%20Analyzing%20leading%20sectors%20Market%20timing%20Money%20management%20Notable%20Quote%3A%20%22The%20game%20of%20speculation%20is%20the%20most%20uniformly%20fascinating%20game%20in%20the%20world.%20But%20it%20is%20not%20a%20game%20for%20the%20stupid%2C%20the%20mentally%20lazy%2C%20the%20person%20of%20inferior%20emotional%20balance%2C%20or%20the%20get-rich-quick%20adventurer.%20They%20will%20die%20poor.%22%7C%20Author%3A%20Jesse%20Livermore%7C%20Publisher%3A%20Albatross%20Publishers%7C%20Publication%20Date%3A%20Apr%2019%2C%202017%7C%20Number%20of%20Pages%3A%20146%20pages%7C%20Language%3A%20English%7C%20Binding%3A%20Paperback%7C%20ISBN-10%3A%20194696302X%7C%20ISBN-13%3A%209781946963024
Jesse Livermore's Two Books of Market Wisdom von Richard Demille Wyckoff, Jesse Lauriston Livermore, Edwin Lefèvre
\"Reminiscences of a Stock Operator\" is the fictionalized biography of perhaps the most famous financial speculator of all time--Jesse Livermore. This annotated edition bridges the gap between the fictionalized account and the actual, historical events that populate the book.\nWith new commentary and Insights on the life and times of Jesse Livermore Reminiscences of a Stock Operator is the fictionalized biography of perhaps the most famous financial speculator of all time-Jesse Livermore. This annotated edition bridges the gap between Edwin Lefevre's fictionalized account of Livermore's life and the actual, historical events, places, and people that populate the book. It also describes the variety of trading approaches Livermore used throughout his life and analyzes his psychological development as a trader and the lessons gained through hard experiences. Analyzes legendary trader Jesse Livermore's strategies and explains how they can be used in today's markets Provides factual details regarding the actual companies Livermore traded in and the people who helped/hindered him along the way Explains the structure and mechanics of the Livermore-era markets, including the bucket shops and the commodity exchanges Includes more than 100 pages of new material Reminiscences of a Stock Operator has endured over 70 years because traders and investors continue to find lessons from Livermore's experiences that they can apply to their own trading. This annotated edition will continue the trend.
Jesse Livermore's Methods of Trading in Stocks von Jesse Livermore, Richard D. Wyckoff
25 of the best Jesse Livermore Trading Rules. A 9000 word Ultimate Guide to the trading legend, Jesse Livermore and his best trading rules.
Jesse Livermores der größte Trader aller Zeiten ● Handelsstrategien, Marktpsychologie & warum seine Lektionen für moderne Börsenhändler heute noch relevant sind
Discover the top 15 stock market traders who have made their mark in history with their exceptional wealth accumulation.
Jesse Livermore's Trading Mindset This chart shows when Jesse Livermore begin to build his position and how to manage them accordingly. The core idea of his trading system is only pull the trigger when both Stocks and Industry Group confirm each other with important action of price and volume, after that the only thing you should do is to pay attention to the potential risk. If everything looks normal then just hold your position, do not sell it too soon, which might grow to a big profits later. Only when some abnormal situations occurred then you begin to consider close your positions.
Superinvestors lays bare the investing secrets of legendary investors - from early 20th-century figures such as Benjamin Graham and John Maynard Keynes, through to more modern names such as Anthony Bolton and Warren Buffett. The investors have been picked for a variety of criteria, including their investing excellence, the different ways in which they have made money - and above all for what they can teach individual investors. A wide range of investment styles are represented, ranging from David Ricardo (who made a fortune by correctly predicting the outcome of the Battle of Waterloo), to the patient value-orientated approach of Warren Buffett. The book also looks at some important innovators, including John Bogle and his development of index funds as a low-cost way of getting exposure to the market, and Edward O. Thorp and his data-driven approach which aims to avoid human emotion. The book looks at each of the investors' careers in depth. This includes their background, the strategies used to beat their peers, and an honest evaluation of their success, using a special star-rating system. Naturally, the main focus is on their best investments. However, sometimes failures can be extremely instructive - so the book also looks at those investments that didn't quite go to plan. Finally, each chapter concludes by detailing the lessons that ordinary investors can learn from the superinvestor. The result is a treasure trove of success stories, cautionary tales, legendary stock picks and world-beating strategies that will fascinate and inspire investors of every level.
⚠️ATTENTION⚠️: This is a digital ebook, and upon confirmation of payment, the download link will be promptly sent to you via Etsy chat for easy access. You will get a PDF file. 📧 Goods sold are not refundable. 📘 "Reminiscences of a Stock Operator: Jesse Livermore's Trading Journey!" 📈💼 🌟 Fictitious Trading Chronicle: Explore the fascinating account of Jesse Livermore's trading career. 📚 Life Lessons from Wall Street Superstar: Chronicles Livermore's life, from his first $1,000 at 15 to becoming a trading legend. 💔 Learning the Ropes the Hard Way: Livermore's journey includes losses, setbacks, and ultimate comebacks. 💡 Timeless Insights: Readers continue to benefit from Livermore's experiences decades after publication. 🎙️ Interviews with Financial Writer Wyckoff: Livermore's statements and wisdom distilled from interviews by Richard D. Wyckoff. 📈 Stock Selection, Psychology, and Getting Started: Livermore shares insights on choosing stocks, the psychology of trading, and how to begin. 🚀 Embark on Livermore's Trading Adventure! 🌟💹
Fear and greed are timeless. So is the wisdom of Jesse Livermore. As a thought experiment, we can apply Jesse’s classic principles to gain a better edge on the market setup today.
คุณกำลังตามหาคำตอบที่ว่า Olymp Trade หลอก ลวง หรือไม่อยู่ใช่มั้ย คุณมาถูกทางแล้ว เพราะที่นี่จะแยกประเด็นให้คุณเห็นภาพชัดเจนว่า Olymp Trade มีกลลวงอย่างไร หรือเพราะอะไรถึงไม่ใช่การหลอกลวง ลองดูแนวคิดขอ...
Jesse Livermore là một nhà đầu tư chứng khoán huyền thoại và là tác giả của cuốn sách "Reminiscences of a Stock Operator" (Ký ức của một nhà giao dịch chứng khoán).
The text below was written by Lucinda Shen and published on the website BusinessInsider.com The original link is http://www.businessinsider.com/the-life-of-jesse-livermore-2015-7 Why Wall Street traders are obsessed with Jesse Livermore Lucinda Shen Jul. 17, 2015, 11:03 AM Cover of Tom Rubython's "Jesse Livermore — Boy Plunger: The Man Who Sold America Short in 1929."Amazon.com This is the man who inspired "the trader's bible": Jesse Lauriston Livermore, the mold for Edwin Lefevre's "Reminiscences of a Stock Operator." Wall Street is obsessed with him. Livermore led a life of brilliance and excess, surrounded by mistresses, scandals, money, and bankruptcy. He was a legendary trader who played big and made millions during the crash of 1929. But by 1934, Livermore would have depleted the $100 million fortune he earned on the stock market just five years earlier. He declared a third bankruptcy, went through his second divorce, and committed suicide in 1940 — the newspapers then detailing his scandals rather than the achievements of his earlier days. This is his life. Quotes from Wiley's "Reminiscences of a Stock Operator" by Edwin Lefevre. Historical information from Tom Rubython's "Jesse Livermore — Boy Plunger: The Man Who Sold America Short." View As: One Page Slides Jesse Livermore was born in 1877 to a family of farmers and learned to read and write by the time he was 3 1/2. Photo of South Acton, Massachusetts.Wikimedia Commons The youngest of three and a surprise baby, Livermore received almost no attention from his father, though his mother was determined to raise Jesse Livermore on the "finer things in life" — and Livermore picked up quickly. He learned to read and write by the time he was 3 and a half. By the time he was 5, he was reading newspapers and devouring the financial pages. But his father was a pragmatist. When Jesse turned 14, Jesse Livermore's father pulled him out of school to make money farming. Young and determined, Livermore left home by carriage. At 14, he charmed his way into a job as a board boy at banking company, Paine Webber. A Paine Webber office in 1920. Livermore would start off his career as a board boy at a Paine Webber office in Boston.Wikimedia Commons Instead of going to the address set by his mother, young Jesse Livermore persuaded the driver to stop at Paine Webber, a Boston stockbroker. He was enthralled. At the time, Livermore appeared six years older than his age, and "people immediately trusted him and ... Jesse Livermore always repaid that trust," Rubython wrote. He got a job as a Paine Webber board boy on $5 a week. He bought his first share at 15 and got a profit of $3.12 from $5 after teaching himself about trends. The inside of a bucket shop would look something like this, with a board boy writing numbers on a board that had been telegrammed in, and speculators watching anxiously.The Library of Congress Livermore tracked the ticker numbers in his journal and realized there was nothing random about them. Finally, at 15, Livermore decided to take a dip with a miniscule portion of the profits he had, and earned a profit of $3.12 by putting down $5 at a bucket shop. In a matter of weeks, Livermore's earnings at the bucket shops exceeded his earnings at Paine Webber. He left the broker at 16 and started trading in Boston's bucket shops. But Livermore always won ... and the bucket shops took notice. They kicked him out repeatedly. He put on a beard. Jesse Livermore, "Boy Plunger of Wall St," himself could never quite grow a beard.AP Images He would simply don disguises — a beard — to get under the radar. Eventually he was permanently banned, though he carried home a small fortune — $10,000. Livermore decided it was time to challenge his abilities in 1899. He went to New York and married a woman he had known for a few weeks. The earlier days of the New York Stock Exchange.Wikimedia Commons In the same year he would meet his wife, Nettie Jordan. They would be married within a few weeks of meeting, and they would be separated within a few months of marriage. He had lost everything by playing by the ticker's number, which lagged 30 to 40 minutes behind the real-time market numbers. He had asked Nettie to pawn off some of the jewels he had gifted her to trade again, and she was incensed. Defeated but confident, Livermore went back to basics. He started making money at St. Louis bucket shops. Union Station in St. Louis, the largest and busiest train station in the world when it opened in 1894. Livermore would've likely passed through the station upon entering the city.National Archives and Records Administration That was before the owners recognized him as "Jesse Livermore." Since the shops no longer accepted him, he sent in someone to trade for him and dragged out $5,000 from the shops. In 1901, Livermore made money almost effortlessly, before losing it all trading cotton. An image from 1901 of Pierrepont Morgan as a bull blowing bubbles to hungry investors. Morgan was credited with creating the bull conditions.Wikimedia Commons Livermore had returned to Wall Street to a roaring bull market in 1901. Then 24, he would make $50,000 — and lose it trading cotton. He would also continue to trade conservatively, too afraid of going too far. "When I should have made $20,000, I made $2,000," he said. In the meantime, he would enjoy his life as an attractive, wealthy bachelor in the city. At 28, Livermore had $100,000 to his name by 1906 — but he was losing confidence. So he went on vacation to Palm Beach, but not before he decided to short Union Pacific stock. The lavish Breakers Hotel in Palm Beach, where Livermore would spend vacations gambling and socializing with Beach Club owner, Ed Bradley.Wikimedia Commons His conservatism combined with his inconsistent history of wins of the stock market made him question his long-term ability to trade stock. So he decided to take a break at Palm Beach — it turned out to be a turning point in his life. Livermore had a "psychic surge" he'd never felt before and decided to short Union Pacific stock. His friends all thought he was crazy, or had insider information. Union Pacific stock was going up the whole time. A Union Pacific 9043 locomotive, built in 1929.Wikimedia Commons He returned to the city, and then heard about San Francisco's earthquake — which caused Union Pacific's stock to go down. Suddenly Livermore had made $250,000 — though he rued his caution since the market continued to fall after he covered. His friends all thought he was crazy or had insider information. Livermore listened to a mentor and decided not to turn his position around — and later discovered shorting the stock cost him $40,000. Edward Francis Hutton in 1916.Wikimedia Commons Not long after, Livermore tried to buy Union Pacific stock, seeing the proper conditions to buy in the numbers. But an old friend, Ed Hutton, who had no investments in the company, went out of his way to call Livermore and warn him against the move. Hutton turned out to be completely wrong. Livermore blamed himself for taking the tip. Livermore earned the reputation of a hero in the crash of 1907. As the stock market started plunging, he went short on a hunch. John Pierpont Morgan, who would put millions into banks in order to prop up the economy. He was one of Livermore's personal heroes.WIkimedia Commons Livermore earned his largest sum yet: $1 million in a single day. But seeing the market in crisis, Livermore decided to do the right and wise thing. He started buying all that he could carry (in part at the behest of JP Morgan). His buying led many other Wall Streeters to do the same — and the market started to recover. Livermore also gained hero status. By following his lead, many of his peers had become rich. He bought a $200,000 yacht, a rail car, and an apartment on the Upper West Side. He joined the most exclusive clubs and had a stream of mistresses. JP Morgan's yacht, Corsair. Livermore would buy a railcar in order to emulate Morgan.Public Domain/Wikipedia In a year, he went from zero to $3 million and entered a new class of wealth. But the more he bought, the higher the cost of maintenance. Soon, Livermore returned to the stock market. In 1908 Livermore was betrayed by a "friend" — and paid millions for it. An 1881 cartoon titled "How the Inexperienced Lose their heads," showing the cut-throat Wall Street culture which took Livermore time to learn.The Library of Congress Livermore had $5 million to his name and earned his moniker "boy plunger" — before losing it all trading cotton in the Chicago commodities market. He had listened to Teddy Price, a famed cotton trader — and he couldn't explain why he had listened since he knew the position was wrong. While Price told Livermore to continue buying, Price himself sold, along with the rest of the growers. Livermore was sunk. He was bankrupt for a year before he made it all back. Then, at 40, he proposed to 22-year-old Dorothy of the Ziegfeld Follies. The Ziegfeld Follies on stage. In later years, Livermore would have affairs with several of the dancers.Via New York Public Library Bankruptcy was inevitable in 1915. The stock he had bought in 1907 to ameliorate the market crash came back to cushion his fall during to succeeding years as the market went through a long bear market. A year later, he made $5 million back riding the bull market. Then, after a long and highly publicized divorce from Nettie Jordan (including a stunt where he hired a private investigator to steal back his car), he was finally married to Dorothy, a Ziegfeld Follies dancer. Dorothy and Livermore would have their first son, Jesse Livermore II, in 1919. By 1922, the couple's second son, Paul, was on his way. Dorothy Livermore and her sons, Jesse Jr. and Paul in Santa Barbara after 1933.Associated Press Livermore decided to buy an expensive property at Great Neck and left Dorothy with an empty check to furnish the house. They were moneyed,high-society, and wanted nothing. It was a period of overwhelming happiness for the family. Livermore's name also grew in the media, and people bought and sold based on his recommendations in the papers. Panoramic picture of Armour & Co.'s General Office, Union Stock Yards, Chicago, c. 1900. Livermore's own offices likely resembled the setup — though on a smaller scale.Library of Congress He established a formal trading operation — earning $15 million . Two years later, Livermore would move to a larger office with 60 staff members. Edwin Lefevre contacted Livermore in order to write 'Reminiscence of a Stock Operator.' It was published in 1923. Reminiscences of a Stock OperatorAmazon At its publication, no one realized it was a thinly veiled disguise for Livermore's own life, with a character named Laurie Livingston repeating the words Livermore had sat down and said to Lefevre. It would do surprisingly well and spawn several reprints. In the same year, Livermore second son was born. Meanwhile, his notoriety continued to grow on Wall Street. He made $10 million trading wheat and corn in 1925. The Library of Congress He would make $10 million trading wheat and corn in 1925 on the Chicago Board of Trade — battling the famed bullish commodities trader Arthur Cutten for the ability to manipulate the market. In 1927, two burglars broke into the Livermore's home and held him and his wife at gunpoint. Jesse LivermoreAP Images Dorothy was surprisingly calm throughout the ordeal, talking the burglars into leaving some of their most valuable jewels behind. When they left, she persuaded the burglars to leave carefully and not to wake the children. Despite the family's happiness however, things were beginning to change. Dorothy's drinking habits were getting out of hand. Then Black Tuesday hit and the market crashed. Livermore made $100 million going short. Wall Street, 2 a.m., broker's office: Clerks sleeping in office because of excessive work caused by heavy stock business.Library of Congress By chance, Livermore felt something was moving in the market. He decided to live out of his office making trades in the days leading up to October 29. As the news began spreading about traders who had lost everything on Black Tuesday, Dorothy Livermore and her mother at home in Evermore began panicking. When Jesse Livermore returned, they were crying about how they were ruined — not realizing he had made $100 million going short. By 1932, Dorothy's drinking habits, combined with Livermore's affairs and their lavish spending habits, strained the relationship. Dorothy Livermore with her two sons, Paul, right, Jesse Jr., center right, and her younger husband, Walter Longcope. Associated Press Throughout their relationship, Livermore had kept mistresses from everywhere — including the Ziegfeld Follies, where Dorothy still had friends. She was humiliated. At the same time, Dorothy's drinking habits had turned her from the life of the party into an undignified drunk. Dorothy asked forquick divorce and received the modest settlement of $10 million. She took custody of the boys as well as the house. On the same day, she married a younger man — a former prohibition officer. At 56, Livermore, no longer young nor truly wealthy, decided to spend the last of his money on vacation — where he met his third wife. Harriet Metz and Jesse Livermore not long after meeting in 1934.Associated Press He met the American singer Harriet Metz in Vienna. Four times widowed by suicides, she had her own money from those deaths. Livermore planned on using the vacation to recuperate and make a comeback from inevitable bankruptcy upon his return to New York. But he was also emotionally worn out. Dorothy attempted to keep up the lavish lifestyle her ex-husband had given her, but didn't have the funds. She sold the Great Neck house. The sale of a home that had been part of the family for a decade hurt Livermore. Display in an action window, 1938.The Library of Congress The house had come with butlers, maids, cooks, gardeners and more — and $10 million was not enough to keep it running. Dorothy had divorced her new husband. Livermore sank deeper into depression. The house has represented a decade of family and joy, and it was sold and torn down. Jewels and an inscribed wedding ring that Livermore had given Dorothy were sold for a few dollars — Livermore felt humiliated. The house and renovations had cost Livermore $3.5 million. Dorothy sold it all for $222,000. A year later, Livermore was forced to declare a third bankruptcy. Bankers are shown in a huddle during a recess when they were testifying before the Securities and Exchange in 1937.The Library of Congress It was Livermore's third time, but as before, he was confident he could make a return to the market. He had friends and had done it before. But that third and final era of debt in his 60s would be fatal. Though Livermore had famously returned to the stock market twice before, the creation of the SEC and loss of the motivation that had prompted his previous phoenix risings would lead to a dead end. In 1935, Dorothy Livermore shot their son Jesse Livermore Jr. while in the middle of a drunken spat. Jesse Livermore Jr. was shot by his mother, Dorothea Longcope, Thanksgiving night, here shown with his mother on his return home in 1936. Their attorney is pictured center.Associated Press Jesse had always been a problem child, drinking like his mother and sleeping with her friends. On Thanksgiving, Dorothy and her new husband had lunch with her two sons. After the meal Dorothy sat down and began drinking liberally. Jesse Livermore Jr., upset over her deteriorating drinking habits, finished off the bottle. His mother said, "I'd rather see you dead than drinking that way," to which he replied, "you don't have the nerve to shoot me" and handed her a gun. She was inebriated, and after a prolonged argument, the gun went off. She was taken in for questioning, Jesse Jr. narrowly survived, and she was cleared of charges. The situation added stress to Livermore's life. Jesse Livermore began to realize after a series of family tragedies and the emergence of the SEC that he might not trade the same ever again. Jesse Livermore with wife, Harriet Metz the day before his death.Associated Press His wife's fortune also supported him comfortably enough that he felt no urgency to trade. In 1940, Livermore's book, "How to Trade in Stocks," was published, though it was never as popular as Lefevre's work. “No man can always have adequate reasons for buying or selling stocks daily — or sufficient knowledge to make his play an intelligent play,” he said to Lefevre. And in the same year, Livermore shot himself in the coatroom of the Sherry Netherland Hotel in New York. Central Park Plaza at the pond in New York. The Sherry Netherland is the second-tallest building in the picture.Wikimedia Commons According to Rubython, his wife's $7 million fortune had lulled him into a sense of comfort and killed the desperation to win he had in his youth. He felt as if he was losing himself. He left nearly no money to his children. Jesse Livermore Jr. later committed suicide. Jesse Livemore Jr. arrives at a New York hotel, November 28, 1940, where his father, 62-year-old onetime "boy wonder" of Wall Street and then went bankrupt, was found shot to death.Associated Press What little he had allocated to their trust funds had devalued over the years. Jesse Livermore Jr. would also fall into the habits of his alcoholic mother and kill himself in 1975 after shooting his beloved dog while drunk and attempting to shoot a police officer. As did Jesse Livermore Jr.'s son. In the wheat pit of the Board of Trade of the city of Chicago, 1920.Library Of Congress "There is nothing new in Wall Street. There can't be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again," Lefevre wrote. Though his money didn't last, his wisdom stayed with generations of traders, and his mistakes became the encouragement and lessons for traders today. Jordan Kessler, son of trader Glenn Kessler, uses his father's mobile phone and badge on the floor of the New York Stock Exchange, November 28, 2014.REUTERS/Brendan McDermid "If a man didn't make mistakes he'd own the world in a month. But if he didn't profit by his mistakes he wouldn't own a blessed thing," Leferve wrote. The text above was written by Lucinda Shen and published on the website BusinessInsider.com The original link is http://www.businessinsider.com/the-life-of-jesse-livermore-2015-7 Jesse-Livermore.com Interesting links: http://www.jesselivermore.com/ http://www.businessinsider.com/wall-street-reading-list-2015-6?op=1
An diesem Buch kommt kein echter Börsianer vorbei. Einer der ganz grossen Spekulanten aller Zeiten beschreibt das wechselvolle Auf und Ab mit Aktien und Termingeschäften. Eines der besten Bücher, die über die Börse geschrieben wurden. Das Wertpapier Erstmals 1923 erschienen, gilt Lefèvres Geschichte über Jesse Livermore, einem der genialsten Spekulanten aller Zeiten, längst als Börsenklassiker schlechthin und als eines der meistgelesenen Investmentbücher der Welt. Capital-Urteil: Ein Lehrstück und eine packende Lektüre über das Abenteuer Börse. Capital
\"Although Reminiscences...was first published some seventy years ago, its take on crowd psychology and market timing is a s timely as last summer's frenzy on the foreign exchange markets.\" --Worth magazine \"The most entertaining book written on investing is Reminiscences of a Stock Operator, by Edwin Lefèvre, first published in 1923.\" --The Seattle Times \"After twenty years and many re-reads, Reminiscences is still one of my all-time favorites.\" --Kenneth L. Fisher, Forbes \"A must-read classic for all investors, whether brand-new or experienced.\" --William O'Neil, founder and Chairman, Investor's Business Daily \"Whilst stock market tomes have come and gone, this remains popular and in print eighty years on.\" --GQ magazine First published in 1923, Reminiscences of a Stock Operator is the most widely read, highly recommended investment book ever. Generations of readers have found that it has more to teach them about markets and people than years of experience. This is a timeless tale that will enrich your life--and your portfolio.
Jesse L. Livermore was a famous stock trader in the early 1900s who began his career at 14 with no formal education.
The Richard Wyckoff Theory of accumulation and distribution focuses on supply and demand for a stock, cause and effect, and the law of effort for a stock.
Trong thế kỷ 20, có một nhân vật đã nổi tiếng với sự tinh tế và tài năng phi thường trong thế giới khốc liệt của thị trường tài chính là Jesse Livermore. Ông
This is why top entrepreneurs and professionals recommend Reminiscences of a Stock Operator
