Jesse Livermore
Review & Customer Comments on Finance
and Trading Guru Jesse Livermore...
Jesse Livermore
(1877-1940) was one of the greatest stock
traders of the 20th century who managed to
leave a lasting legacy. His lifetime
of investing knowledge is encapsulated in
his books and memorable quotes regarding
human nature and the stock market.
Traders of all levels read Livermore's
books because the things he discussed are
timeless. He focused on the
fundamentals of trading such as recognizing
trends, managing risk, and maintaining
emotional discipline.
There is also quite a lot to be learned
from the handful of times that Jesse
Livermore lost and recouped multi-million
dollar fortunes. According to him each
loss was the result of not adhering to his
set of trading rules.
This goes to show that even the most
successful and profitable traders can be
swayed by temptation and bad judgment.
This is why it's crucial to set your own
goals and parameters for stock trading and
do your best to stick with them.
Probably the most important thing that a
novice trader can learn from Jesse Livermore
is about the need to constantly learn and
develop yourself. Albeit, Livermore had
a great mind for numbers but he also emphasized
the need for study and dedication.
This can be summed up in a popular quote
from Livermore's book, How To Trade In
Stocks, “The game of speculation is the most
uniformly fascinating game in the world. But
it is not a game for the stupid, the
mentally lazy, the person of inferior
emotional balance, or the get-rich-quick
adventurer. They will die poor. ” - Jesse
Livermore.
The other reason that he remains a
popular figure in the trading community is
because he was a great student of patterns
in the market. He believed that due to
the consistency of the human element in the
markets situations would continue to repeat
themselves. One of many reasons why
people study his materials.
It's important to realize that there is
no one guru or program out there with all
the answers. It's up to you to learn
as much as you can through a variety of
resources in order to understand the big
picture of trading. I would recommend using
Jesse's strategies in
conjunction with additional trading software in an
ongoing educational process.
One great tool that I personally recommend is Trend TV where you can view educational training videos from some the world's top analysts.
This is the type of information you'll get at seminars where a seat could cost thousands of dollars.
It's surprising that most people don't know about such a great resource that
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