Lessons from World’s Greatest Stock market Trader – Jesse Livermore
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This is a beginners guide to invest in shares (stock market) in India.
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Jesse Lauriston Livermore was one of the most successful and legendary traders of the 20th century. He had a brilliant mind, High emotional IQ, extraordinary analytical skills, unique intuition, and was a mysterious and stock market genius.
A truly self-made man who was one of the world’s richest person starting with a few dollars from his youngest age. Born in 1877, Jesse Livermore started trading at the age of 14 and had a net worth of around $100 million at his peak.
Like most notable traders, he is most known for his big calls, shorting the stock market prior to the Panic of 1907 and the 1929 Great Depression.
He invested and traded securities much more successfully using his own invented unique trading principal and methods first time in that era than other market participants.
Jesse Livermore was a self-taught stock trader and commodities trader utilizing his own investing style and approached the markets with the attitude of a businessman operating a business.
He was ahead of his time, making millions trading on others’ emotions. His timeless powerful lessons of trading principles, psychology, and risk management that worked 100 years ago are still valid today.
Livermore was raised from dirt to riches and unfortunately ended up in bankruptcy and suicide because he frequently violated his own principles and rules and usually lost money as a result.
One must read his unofficial biography in the book “Reminiscence of a Stock Operator” first published in 1923 and written by journalist Edwin Lefebvre which still ranks as one of the best business books of all the time. If you work on a trading floor and haven’t read Reminiscences, you’re probably in the minority. That’s how much this book has shaped the trading community. This book is devoted to Livermore’s experiences and a larger part of the book deals with trading wisdom and rules. The views and lessons of Livermore mentioned in the book continue to be relevant to every new generation of investors and traders.
Later on, in 1940, Livermore had written and published a book “How to Trade in Stocks” a book for people wishing to learn stock trading which is also extremely popular among investors worldwide even today.
Some observers have regarded Livermore as the greatest trader who ever lived, but others have regarded his legacy as a cautionary tale about the risks of leverage to seek large gains rather than a strategy focused on smaller yet more consistent returns. Watch the video to know more about the story of this great share market trader and how he earned profits from trading.