Jesse Livermore was one of the most successful speculator . During his lifetime, Livermore gained and lost several multi-million dollar fortunes. Most notably, he was worth $3 million and $100 million after the 1907 and 1929 market crashes, respectively. $100 million in 1929 was close to billion of today or more. He did not lose all his money in market, lot was lost in divorce and colorful lifestyle. He committed a suicide.
Livermore started as a day trader and slowly evolved in to swing and position trader. He struggled for 10 years before discovering his setups. At the very end of his life he wrote a small book "How to trade in Stocks" . By that time he was a successful speculator for 40 years. The book crystallizes his method.
The book has many setup ideas. Today we will explore setup ideas from this book. Almost all the setups Livermore used were swing trading or position trading setups and many of you who are working people should study his setup ideas on position trades.
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2 comments:
According to DollarTimes, $100 million in 1929 would be the equivalent of $1,282 million in 2011.
thanks
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