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Jesse Lauriston Livermore was one of the very first traders to have become famous for his incredible risk taking, his gregarious method of. The most fabled trader of all time is probably Jesse Lauriston Livermore. In fact, Reminiscences of a Stock Operator, a thinly veiled fictional. Jesse Lauriston Livermore was born on July 26, , and started his trading career at the age of 14 as a “chalk boy”, posting quotes for stocks.

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Jesse, the savvy stock trader he was becoming, used an old investing technique applied by day traders of his time to analyze the price and volume of a particular stock in order to execute trades: It took me five years to learn to play the game intelligently enough to make big money when I was right.

Livermore cornered the cotton market in following the end of the First World War.

The wheat showed me a profit and I sold it out. All he knew was that when he got a gut feeling he was wise to follow it. They will die poor. He also was one of the few people who did well in the crash of Metz Noble was from a prominent Omaha family who made a fortune in breweries.


She either drives everyone to the brink or she knows a good hitman. There is nothing new in Wall Street. The game of speculation is the most uniformly fascinating game in the world.

Things have been bad with me. LossAverageMind. The World’s Greatest Stock Trader.

Jesse Livermore suicide

Never buy at the bottom, and always sell too soon. A loss never troubles me after I take it.

While there, Jesse starts learning to read the tape and discovered that he could speculate at the many bucket shops unauthorized office for speculating in stocks around town.

All through time, people have basically acted and reacted the same way in the market as a result of: Nobody can catch all the fluctuations. But I do not tell people to buy or sell any particular stock.

Livermore eventually lost the great fortune he had accumulated through Llivermore believed that prices were never too high to begin buying or too low to begin selling – a view which remains contrarian to this day.

It always was my sitting. It was only interception by President Wilson after a call from the Secretary of Agriculture asking him to the Whitehouse that stopped his move. Speculation is a hard and trying business, and a speculator must be on the job all the time or he’ll layriston have no job to be on.

Jesse Lauriston Livermore – Wikipedia

TapeInvestingPrudent. Retrieved 14 February Things have been bad with me. There is some speculation that this partnership between the two men was not their first collaboration. Jesse had purchased some very expensive antique furniture. But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get-rich-quick adventurer.

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It never was my thinking that made the big money for me. Always sell what shows you a loss and keep what shows you a profit. After around 6 months trading on Wall Street Jesse went bust. I never argue with the tape. A prudent speculator never argues with the tape. He was, however, requested by JP Morgan who had bailed out the entire New York Stock Exchange during the crash, to refrain from further short selling in the interests of the national economy.

During his youth Jesse was fascinated by numbers.

November Learn how and when to remove this template message. Of all the speculative blunders there are few greater than trying to average a losing game.