From Trade Like Jesse Livermore:
"Profits always take care of themselves but losses never do." - Jesse Livermore
Jesse Livermore is considered by many to be the greatest stock trader who ever lived. He pocketed $3 million in a single day when he predicted the crash of 1907 and made $100 million as America rolled into the Depression.
Although he began his career in 1892, the ideas and practices he displayed are as valid today as they were when he was first implementing them - and making millions.
In Trade Like Jesse Livermore, author and Livermore expert Richard Smitten explores the technical aspects of Livermore's trading success, and shows you how to use these techniques to achieve the success Livermore once did. Smitten skillfully outlines Livermore's methods of dealing with what he considered the three essentials of successful stock market trading: timing, money management, and emotional control.
Trade Like Jesse Livermore covers every aspect of Livermore's trading principles and timing techniques, from discerning market behavior and trends such as top down and tandem trading to paying close attention to indicators such as one-day reversals and spikes. This book also explores Livermore's money management strategies, including avoiding cheap stocks, establishing a profit target, and setting stops before trading.
With Trade Like Jesse Livermore as your guide, you can learn how to trade without fear or greed so you can begin to trade more profitably.
I don't know about you, but whenever I hear about anyone making $3 million in a single day (In 1907 dollars, I wonder what that would be worth in today's purchasing power, one hundred years later?) I'm interested in learning how he did it. That was just a warm-up for the 1929 Crash when he made $100 million in one day (the most profitable trading day in his life) when everyone else was wiped out. And then finding out that the strategies and tactics he used are just as valid today as they were then? Are you kidding me? Where do I sign up?
Do your trading career a big favor and buy Trade Like Jesse Livermore.Case closed.
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