Trade Like Jesse Livermore
$16.41
| Author(s) | |
|---|---|
| Pages |
234 |
| Format |
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| Published Date |
2004 |
Trade Like Jesse Livermore explains the complete Livermore Trading System, developed by Jesse Livermore over his legendary 45-year career trading the stock market. This book explores the technical aspects of the Livermore Trading System, including Timing, Money Management, and a way to achieve Emotional Control. It deals with the details and secrets of the stock trading system that brought about Livermore’s amazing and unbridled success on Wall Street.
Introduction:
Trade Like Jesse Livermore explains a number of aspects of Livermore’s technical trading systems, such as:
- Recognizing and profiting from Pivotal Point Trading
- Continuation Pivotal Points and how to recognize them
- One- and three- day reversal signals—how to identify them and profit
- Tandem Trading—looking at two stocks, the stock and the sister stock
- Industry Group action and how it must be analyzed and understood before trading
- Top Down Trading techniques
- The importance of volume activity in trading a stock
- Stocks breaking out to new highs and what that can mean for a trader
- Break-outs from a consolidating base
- Trading only in the leading stocks in each group
- The dimension of time, an important element in trading the Livermore system
- The complete Livermore Money Management system
The Livermore Trading System can be applied to any trading time frame from 10 seconds to 10 years, and it can be used by the long-term trader as well as the day trader. Like an athlete preparing for a contest, Livermore considered it very important to prepare himself both psychologically and physically for a day of trading. These techniques are disclosed in this book.
Contents:
- Meet Jesse Livermore
- Timing is Everything
- Livermore Trading Discoveries
- Livermore Pattern Recognition Timing Keys: Pivotal Point Trading
- Perfecting Money Management
- Emotional Control
- How Livermore Prepared for His Day
- General Livermore Issues
- Livermore Quotes—Trading Truths
- Summary of Livermore Trading Rules
- Livermore Secret Market Key
Trade Like Jesse Livermore By Richard Smitten pdf
5 reviews for Trade Like Jesse Livermore
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Journey McLean (verified owner) –
I have read all of richard smittens books about jesse livermore. they are all very much the same. they have identical passages in different order. the trade like jesse livermore i reckon is the best or 2nd best after how to trade in stocks – due to the flow/order. i reckon first read reminiscences of a stock operator and then one of richards smittens books. richards smittens books is also about 60% repititive to reminiscences of a stock operator which i think is okay
Jeremias Luna (verified owner) –
If you thought you would learn the actual methods of how Jesse Livermore traded, you are WRONG.
Gives a quick outline of how Livermore traded, like ‘pivotal points’ but teaches you NOTHING about how to apply them.
Illustrations are very poor, just a few trend lines which any newbie could have drawn straight out from stockcharts.com
The only moderatesly useful point may have been the emphasis of the ‘time stop’ where Livermore states that if the stock doesn’t react in a few days, get out.
The “Livermore Secret Market Key” was a total scam, once again showing and teaching you NOTHING.
Repeats about 1/4 of the book in the summary by directly cutting and pasting.
If you would like to learn more of Livermore’s methods, go read Reminescences of a Stock Operator.
I’d rather have read that one more time than waste my time and money on this book. Huge buyer’s remorse!
Dayton Wilcox (verified owner) –
Not sure why all the negative comments. Maybe as traders we are all accustomed to complex strategies that make J.L.’s seem simplistic. But that’s the beauty of it. I like this book. And the charts in it. If somebody needs an explanation of what the pivot points are on the charts, well, then you shouldn’t be trading. Because it’s so obvious. I have read all 3 J.L. books (“Reminiscences” J.L.’s original “How to trade stocks” and this one and yes, there is some repetition. But that’s a good way to learn. Don’t be put off. Read this. It’s a good solid, proven strategy…And about the writing…? it ain’t literature!
Amelia Hansen (verified owner) –
If you read Reminiscences of a Stock Operator, then you know Livermore’s rules. As for the secret trading method (Smitten calls Pivotal Point Trading)…. it boils down to trendlines. That is it. The book is so similar to the books of William ONeill I was expecting an IBD subscription card to fall out: 1. Watch the top industry groups for market signals. 2. Watch the top two stocks in each market group. 3. Cut losses at 10% (IBD is 8%). 4. Watch for volume to be up at least 50%. 5. Do not average down. 6. Buy on breakouts to new highs. etc, etc, etc.
Charlie Whitaker (verified owner) –
Smitten uses Livermore’s own words from his book “How to Trade in Stocks”in the first part of the book, but then offers detailed analysis. I have read both books and both are excellent trading books for new traders and intermediates. The only weakness is there is considerable overlap between Smitten’s book and Livermore’s.