Jesse Livermore was an early innovator in the trading world as one of the first traders to create a trading plan and a system. He basically invented price action trading and trend following in the early 20th century. He had higher highs and lower lows than most people can even imagine, he both became wealthy […]
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This is a Guest Post by Alex @MacroOps which was originally posted at: Lessons From A Trading Great: George Soros Remember the scene from the 90’s classic, The Sandlot, where “Smalls” loses his father’s Babe Ruth autographed baseball to “The Beast” and the other kids question him in disbelief, saying: Smalls: I was gonna put the
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This is a Guest Post by Alex @MacroOps which was originally posted here: Lessons from a Trading Great: Jesse Livermore “Boy Wonder”, “Boy Plunger” and the “Great Bear of Wall St.” are a few of the monikers Jesse Livermore was known by. Livermore was immortalized in the trading classic Reminiscences of a Stock Operator by
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Here are seven books written by Market Wizards that appeared in Jack Schwager’s best selling book: How to Make Money in Stocks: A Winning System in Good Times and Bad by William J. O’Neil Pit Bull: Lessons from Wall Street’s Champion Trader by Marty Schwartz Panic-Proof Investing: Lessons in Profitable Investing from a Market Wizard
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#1 Livermore’s wealth was built primarily from big position trades that lasted for weeks or longer. He made his big money holding a trend not scalping or day trading. Which was very difficult in those days with commission costs and speed of execution. “Money is made by sitting, not trading.” #2 Livermore pioneered the idea
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