Livermore?

[kimo'sabby]

Livermore is doing my head in!

What was his secret? What did he have?

It's personal....and he's laughing at me....and you.

What was the Livermore secret?


How many chances do you need to get it right? When you get it right....how right are you? Do you believe in yourself?


You've got to believe, do you believe?


Or are you a wimp, non-believer, not confident of your trading skills?


What should you believe?

 

[kimo'sabby]

You make a trade, i make a trade.....where does it all end?

 

[kimo'sabby]

How to read a 5 min chart? Look/mark the hourly increments? All TFs are tied in, mark the verticals, you've got the H1s.

It's not rocket science.

How do the H1s move after an H1 inside bar?

Revert to the 5mins/1mins, take the 1min pin at old support/new low....obvious stuff....all TFs are correlated.

Sell on the lower TFs.


This is all happening, why? Not because of technicals....but because of real market liquidity. The real market is the cause.

 

[LazyManForex]

Okay, I only lost two bucks.

 

[LazyManForex]

Sorry, the two bucks was a reference to a Livermore story I base most of my money management off of.

-The laziest man at LazyManForex-

 

[kimo'sabby]

Why do people need? 5 min/1min and then a higher screen? It's ridiculous!

This is what a person needs...minimum/maximum.

Dom, then one screen above depending. 2 screens max!

2 screens max, for any strat. Anything above is for retards.

One market one screen is the norm.

 

[kimo'sabby]

Someone like oilydaytrader will use about three screens for crude.....why? Because he's a ****in' nob that's why.

 

[Jason101]

Sorry, the two bucks was a reference to a Livermore story I base most of my money management off of.

-The laziest man at LazyManForex-

Which story is that Lazy man?

 

[Jason101]

How to read a 5 min chart? Look/mark the hourly increments? All TFs are tied in, mark the verticals, you've got the H1s.

It's not rocket science.

How do the H1s move after an H1 inside bar?

Revert to the 5mins/1mins, take the 1min pin at old support/new low....obvious stuff....all TFs are correlated.

Sell on the lower TFs.


This is all happening, why? Not because of technicals....but because of real market liquidity. The real market is the cause.

I think Livermore only become consistently profitable after he was well away from the 5min time frame. And even passed swing trade time frames.

 

[kimo'sabby]

I think Livermore only become consistently profitable after he was well away from the 5min time frame. And even passed swing trade time frames.

Wrong! Anyone on the make knows all mate.

 

[Jason101]

Wrong! Anyone on the make knows all mate.

It’s been a while since reading up on him.
You may be right. It may be time I had a re-read, I can never get board of him.

 

[kimo'sabby]

It’s been a while since reading up on him.
You may be right. It may be time I had a re-read, I can never get board of him.

We can't take him on, mate.

How the f*ck can we honestly deliberate about the guy?

He did, we wonder....and that's about it.


My point being, you back what you know....or you shy away.

It's not really my point, it's more Livermores point.

 

[kimo'sabby]

I wrote for luck...
They sent me you..

 

[kimo'sabby]

Twisted stuff.

Small becomes big...and big becomes small.

Only in the world of trading.

 

[Jason101]

We can't take him on, mate.

How the f*ck can we honestly deliberate about the guy? .

True

My point being, you back what you know....or you shy away.

It's not really my point, it's more Livermores point.

It's not like he had a 2% rule hey.

 

[wackypete2]

Didn't he have clinical depression, and die a poor man by committing suicide?
Nope, I don't want to be like him.

He won countless millions from the markets and gave it all back several times. I don't understand how that makes him a great trader. For all his intelligence and market savvy he wasn't too smart.

Peter

 

[bedsit]

I think Livermore only become consistently profitable after he was well away from the 5min time frame. And even passed swing trade time frames.

Consistency is relative.

 

[counter_violent]

Didn't he have clinical depression, and die a poor man by committing suicide?
Nope, I don't want to be like him.

He won countless millions from the markets and gave it all back several times. I don't understand how that makes him a great trader. For all his intelligence and market savvy he wasn't too smart.

Peter

There's a lesson in that though. When everything is behaving as it should then go for it. When it stops working for whatever reason...then recognise it and cease throwing money at it. Rinse and repeat.

For what it's worth, I believe he was a very smart cookie.

 

[wackypete2]

There's a lesson in that though. When everything is behaving as it should then go for it. When it stops working for whatever reason...then recognise it and cease throwing money at it. Rinse and repeat.

For what it's worth, I believe he was a very smart cookie.

Smart enough to make 100 million $$, yes. But not smart enough to keep from losing it all back.

I agree with the lesson though.

He was more of a gambler. His problem was he went "all in". When he was right, yipee!!, when he was wrong...oh well...

Peter

 

[arabianights]

Livermore's secret was to take a **** load of risk and go bankrupt every so often, and to be luckier than the thousands of other people doing exactly the same thing.

Anyone can do it.