How accurate are the teachings- Reminiscences of a stock operator?

[Nowler]

Hey folks,

As I approach the midway point of the book, I wonder... how accurate/true is this story?

Obviously it's based on Livermore, but it's not written by him, nor does he seem to have been directly involved in the writing of it.
So while it's an entertaining read, when I come across what otherwise would be a learning curve or educational advice, I remind myself, that this wasn't Livermore talking...
It was some journalist...

Livermore was the the legendary trader, not Lefevre.
If Livermore consulted with him, then fine, but this is essentially the opinion of a journalist, not the thoughts of a legendary trader

Entertaining nonetheless

 

[fibo_trader]

Hey folks,

As I approach the midway point of the book, I wonder... how accurate/true is this story?

Obviously it's based on Livermore, but it's not written by him, nor does he seem to have been directly involved in the writing of it.
So while it's an entertaining read, when I come across what otherwise would be a learning curve or educational advice, I remind myself, that this wasn't Livermore talking...
It was some journalist...

Livermore was the the legendary trader, not Lefevre.
If Livermore consulted with him, then fine, but this is essentially the opinion of a journalist, not the thoughts of a legendary trader

Entertaining nonetheless

Good boy!

Did you notice that Livermore was exactly your age, 32 when in his prime? Prime defined as 18-35. You have 3 years left in your prime, boy. Books ain't going to get the job done, YOU gots to do it yourself. Drop the sweetness and light miss-goody-2shoes angelic demeanor and start applying, "I have the ability to make things go right"

Step 1: Get some Capital together, clown. Your 24K salary is not meant for the risks of trading. Its meant for your family (rent, food etc.,) Gambling with the milk money and then coming to a forum and spilling your heart out like a softie ain't going to solve nothin.

Make it go right, Now, boy!

 

[fibo_trader]

Hey folks,

As I approach the midway point of the book, I wonder... how accurate/true is this story?

sorry, forgot .................................. Accurate! Very accurate. Well worth following and implementing. But you will need big kahunas. Your leg pillow and guard pillow in bed while you sleep to ward off The Evil One named Fibo will not help

 

[Pat494]

The poor guy blew up his fortune once too often and topped himself.
Might be some hint encapsulated in that fact.

 

[Nowler]

The poor guy blew up his fortune once too often and topped himself.
Might be some hint encapsulated in that fact.

Indeed

 

[Nowler]

The part I'm at now is when he "cornered the cotton market". He took some massive risks thus far, and knowing how it all ended, he continued to.

 

[fibo_trader]

The part I'm at now is when he "cornered the cotton market". He took some massive risks thus far, and knowing how it all ended, he continued to.

Good boy!

Now try to calculate the size of his kahunas from reading this ...... and then pause for a moment and contemplate how you, just before you started to conquer the Natural Gas Futures market by going to the gunfight with a pencil, decided to relinquish your kahunas recently but stopped just short of too late.

You wicked, wicked, boy

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[Jason101]

To my mind, each trader has to match their own emotional responses to market participation and life interactions to a trading style that proves to be profitable. So the emulation of other great traders such as JL is probably futile. But may act as a guide to understand one's own market actions and reactions. So it may prove to be counter productive to copy to closely unless your make up is very closely aligned.