This is the best an only book you should ever read about trading... I read this 2-3 times a year and each time I do something else just falls into place or a new angle on an existing concept presents itself.
The detail and information in this book is as sound now as it was in 1923 when it was written.
Yes he blew his head off in the Sherry Netherland Hotel where he was having an affair with the hat check girl. His last words were supposed to have been "my life has been a waste of time". I still think it was the best trading book in existence until Jack Schwager came along - you'll still see a copy in every major dealing room for newbie education and I don't know a successful trader who hasn't read it. His life was a cautionary tale about getting emotionally involved with the outcome of one's trading.
Its quite a while since I read this book & from memory did not Jesse Livermore blow his brains out in the end because he could not handle being wrong? I dont think that anyone is sucsessful despite their apparent successes if they fail to live with their successes & failures. Having experienced the darkest of depression personally brought on by ambition & driveness & having considered suicide & pulled back from it & having friends who have died prematurely for various reasons including suicide & seeing the mess left behind I just cannot agree that a book about a trader who killed himself can be classed a great trading book apart from being an example of what we can becme if we're not careful. Surely books about Soros despite his huge ego - probably as large as Kissingers, are far more useful as guides to us live traders
This is in a story format. However, within this story there are a variety of hidden gems which you can use to your advantage in trading.
It's story or even a sort of biography of a very successful trader starting from a very young age to his peak. He goes through the ups and downs of trading, how he tackled them, what he learnt from them and how he got back up after being wiped out of millions. Again, a refreshing read from the normal theory books on trading out there. You just need to find and pick out the trading gems or tip hidden within this book
I think this book is essential reading for anyone who is trading or thinking of trading the markets. Widely held to be a fictionalized biography of Jesse Livermore, this is not only a hugely enjoyable and compelling read, but presents a lifetime of experience of trading markets.
Although other books talk about trading psychology, this book is full of anecdotes which are practical demonstrations of these principles. All the way through I recognised aspects of my own trading behaviour, even though I have been trading less than a year.
A lot has changed in the mechanisms of the markets since this book was written in the early 20th century, but most of the human aspects portrayed have remined exactly the same.