Best trading book by far!

[NewToTradingTrader]

Reminiscences of a stock operator

Such an amazing story but more than that it really helps you understand the mindset of a successful trader and what it really takes to get to that point

 

[mnmnmmnnmnmn]

it's the classic... but lots of the stuff in there are outdated and are not proper for the current market any more.

 

[Rhody Trader]

One could ask the question whether a "successful trader" would blow himself up that many times and die penniless.

 

[pedro01]

One could ask the question whether a "successful trader" would blow himself up that many times and die penniless.

or rather - commit suicide penniless.

It's a great book, but it is a work of fiction based on the life of Livermore. That needs to be considered when attempting to emulate the results on $1 spread bets.

It's a good read - perhaps for when you get down in the dumps about trading but if you are a newbie, read it & think you are going to turn $3000 into a million in a few weeks, you are set to lose your $3000.

 

[Rhody Trader]

A better book by far (IMHO) is Market Wizards.

 

[pedro01]

Lairs Poker is quite revealing

 

[rathcoole_exile]

Reminiscences of a stock operator

Such an amazing story but more than that it really helps you understand the mindset of a successful trader and what it really takes to get to that point

typical newbie guff, same as stochastics, "forex is great" etc - how about an original idea for a change ?

 

[pedro01]

typical newbie guff, same as stochastics, "forex is great" etc - how about an original idea for a change ?

More milk for table 2 !

Meaow.....

Touche :whistling

 

[rols]

Choosing Livermore as a role model for trading is a bit like choosing Adolf Hitler as a role model for vegetarians.

Why do aspiring traders use Livermore as an example? The man was clinically depressed much of his life and ended it by blowing his brains out. Sounds great doesn't it?

In the Squibb building at 745 Fifth Avenue, at the age of 63, Livermore entered the Sherry-Netherland Hotel on November 28, 1940, at 4:30 in the afternoon.

Sitting on a stool at the end of the cloakroom, he withdrew a .32-caliber Colt automatic pistol, placed the barrel of the gun behind his right ear and pulled the trigger, dying instantly.

The police revealed that there was a suicide note of eight small handwritten pages in Livermore's personal notebook. It was addressed to his wife.

“My dear Nina: Can’t help it. Things have been bad with me. I am tired of fighting. Can’t carry on any longer. This is the only way out. I am unworthy of your love. I am a failure. I am truly sorry, but this is the only way out for me. Love Laurie”.

He also had some bad luck and poor judgement.

Through unknown mechanisms, he yet again lost much of his trading capital, accumulated through 1929. Thus, on March 7, 1934, the bankrupt Livermore was automatically suspended as a member of the Chicago Board of Trade. It was never disclosed to anyone what happened to the great fortune he had made in the crash of 1929, but he had lost it all.

Who in their right mind would marry a women whos last four husbands had commited suicide?

On March 28, 1933, Livermore married the 38 year old Harriet Metz Noble in Geneva, Illinois; there was no honeymoon. It was Harriet's fifth marriage, and all four of her previous husbands had committed suicide.

Anybody still wanna be like Jesse Livermore???

 

[WallStreetHero]

the best book for beginners is 'A beginners guide to day trading online' by Toni Turner.

 

[forker]

you want a good book on trading... pickup a book about how casinos make their money..

 

[mnmnmmnnmnmn]

it totally depends on what type of investor you think you are, like long term, short term, risky, value? they're all different. Lot ppl recommend CANSLIM for start. Do a search on Amazon to see what kinda books you want. Lots valueable comments on varieties of books.

 

[Crap Buddist]

People who like this book [Reminiscences of a stock operator] may like to read my short Blog called "P!ss Take Of A Stock Operator" whereby I highlight the not so subtle differences between system traders & discretionary types, operating in todays markets.

Thank you .

"Discretionary traders have a love of trading, system traders have a love of money."

P!ss Take From A Stock Operator journals some of the subtle differences between the two.

Link to Blog for your conveniance http://www.trade2win.com/boards/blogs/crap-buddist/4624-you-do-know-market.html